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Attachments: 4 Time Frame No Indicator trading
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4 Time Frame No Indicator trading

  • #1
  • First Post: Edited Sep 24, 2018 4:22pm Sep 9, 2018 9:43am | Edited Sep 24, 2018 4:22pm
Hello,
I am still testing this strategy and would welcome some feedback from more experienced traders please?

My strategy has the following components:
Monthly chart with red & blue candles.
Weekly chart with red & blue candles.
Daily chart with red & blue candles.
4 Hour chart with red & blue candles and this is the only chart which I trade from.
I swap easily between currency pairs by using the yellow buttons.

4 hour chart BUY setups to trade.
If the monthly, weekly and daily chart candles are all BLUE candles:
On the 4 hour chart, a red or blue candle will make a high, if the very next candle makes a higher high, then I draw a line from the first candles high to the second candles high. If the very next candle closes above the line, I enter a buy order trade 20 pips above the third candles high.

4 hour chart SELL setups to trade.
If the monthly, weekly and daily chart candles are all RED candles:
On the 4 hour chart, a red or blue candle will make a low, if the very next candle makes a lower low, then I draw a line from the first candles low to the second candles low. If the very next candle closes below the line, I enter a sell order trade 20 pips below the third candles low.

Thank you
Scchplendid
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4 TF No Indicator Trading BUY.png Size: 154 KB
Click to Enlarge Name: 4 TF No Indicator Trading SELL.png Size: 143 KB
  • #2
  • Sep 10, 2018 6:49am Sep 10, 2018 6:49am
Interesting entry method however so far that is all you have detailed. Entries are only a small part of a trading system. You need to have Money Management in place detailing your method of protecting your capital. How much will you risk per trade? Where will your stop loss (if any) be placed. What lotsize will you employ.
At what point will you take your profit? Are you intending to be constantly in the market reversing your position as each contrasting signal forms?
Good Luck
  • #3
  • Sep 10, 2018 8:14am Sep 10, 2018 8:14am
Thank you for your feedback Ray.
I am still thinking about all of those things however, I wanted to share what I am doing to see what others think.
One area which I notice is that, when a trade occurs on the 4 hour chart, the same pattern occurs on the 1 hour chart ahead of it.
What i mean is that when the first and second candles are aligned on the 4 hour chart, if you go to the 1 hour chart, the pattern reveals itself earlier and pips can be won during the 4 hour chart third candle creation, via the 1 hour chart, instead of after it. Hopefully that makes sense.
  • #4
  • Sep 10, 2018 9:11am Sep 10, 2018 9:11am
As far as my understanding, Time Frames DO NOT make any difference.
Market has NO time frame. I could be wrong.
  • #5
  • Edited 9:48am Sep 10, 2018 9:37am | Edited 9:48am
Asking random people on a forum about your strategy, when they themselves have not tested it.. Seems a bit odd.
Especially people you do not know.. who may be losers themselves. (most who reply will not be profitable themselves)

That being said..
Looks to me like its chasing a move after its already gone up a bit or a lot.. Most the time stuff like that doesn't work.
Market likes to move both ways most the time.. and trying to chase price is very hard thing to do.
Odd's highly favor 2 way markets that go up and down.. However big moves do happen when liquidity is thin.

I'd find out what your good at.. and try to design a system around that.
Maybe you have caught a few big trends and its your thing, or maybe it isn't.
But its best to build a system around something your having success with then to
try to be something your not.
I don't know you, so these are questions only you can answer.
The only system that will work is one designed by and for yourself.
  • #6
  • Sep 11, 2018 12:12am Sep 11, 2018 12:12am
Carry on bro,,,,interesting
  • #7
  • Edited 4:49am Sep 11, 2018 4:16am | Edited 4:49am
Its also work H1 chart, combination of w,D1,H4=H1
  • #8
  • Sep 13, 2018 10:59am Sep 13, 2018 10:59am
Quoting loveandpeace
As far as my understanding, Time Frames DO NOT make any difference. Market has NO time frame. I could be wrong.
That is an interesting understanding which I'll take on-board, thank you.
  • #9
  • Sep 13, 2018 11:06am Sep 13, 2018 11:06am
Quoting bloodpoodle
Asking random people on a forum about your strategy, when they themselves have not tested it.. Seems a bit odd. Especially people you do not know.. who may be losers themselves. (most who reply will not be profitable themselves) That being said.. Looks to me like its chasing a move after its already gone up a bit or a lot.. Most the time stuff like that doesn't work. Market likes to move both ways most the time.. and trying to chase price is very hard thing to do. Odd's highly favor 2 way markets that go up and down.. However big moves do happen...
I am sorry if it seems odd. I shared what I am doing in the spirit of collaboration only. This may be somewhat naive however, I have learnt a lot from reading various forum posts on this site where people have bothered to share their trading activities.
  • #10
  • Sep 13, 2018 11:10am Sep 13, 2018 11:10am
Quoting fxmir
Its also work H1 chart, combination of w,D1,H4=H1
Thank you for your feedback. I am going to test the W,D1,H4 and trade via the 1H charts next week.
I am still unsure whether or not the monthly candle (being of the right colour) is required.
  • #11
  • Sep 13, 2018 11:57am Sep 13, 2018 11:57am
Quoting fxmir
Its also work H1 chart, combination of w,D1,H4=H1
I had more time today and had a look at a trade I did earlier.
In the attached picture, Monthly to H4 charts were all the same colour and yet, when I entered a buy at the close on the 1 hour chart shown, the move was over and the momentum fizzled out. So my trade is not looking very healthy. (see yellow line on 1 hour chart)

BUT

Given your previous comments, I checked out the 30 minute chart and, sure enough, the trade was there, and is shown with the yellow line, if I had entered 30 minutes before. Conclusion, the time frame I have been trading might be too high and I'll test this further tomorrow and next week.
Thank you FXMIR!
Attached Image (click to enlarge)
Click to Enlarge Name: 4 TF No Indicator Trading BUY 2.png Size: 110 KB
  • #12
  • Edited 12:43pm Sep 13, 2018 12:31pm | Edited 12:43pm
Quoting Scchplendid
{quote} I had more time today and had a look at a trade I did earlier. In the attached picture, Monthly to H4 charts were all the same colour and yet, when I entered a buy at the close on the 1 hour chart shown, the move was over and the momentum fizzled out. So my trade is not looking very healthy. (see yellow line on 1 hour chart) BUT Given your previous comments, I checked out the 30 minute chart and, sure enough, the trade was there, and is shown with the yellow line, if I had entered 30 minutes before. Conclusion, the time frame I have been...
Something you could consider, is that you could continue to use the higher time-frames, however you wait for the last candle to colour the opposite way. Then drop down to your lower set-up and wait for that candle to turn back in your original direction, so in effect, you are trading the pullback in a trend (I get the feeling that's easier to trade than to explain, lol).

I'll have a look see when / if I get the time and report back.

Edit: Or simply enter on a pullback to the yellow line on the H4.
  • #13
  • Sep 13, 2018 1:14pm Sep 13, 2018 1:14pm
Quoting lemercenaire
{quote} Something you could consider, is that you could continue to use the higher time-frames, however you wait for the last candle to colour the opposite way. Then drop down to your lower set-up and wait for that candle to turn back in your original direction, so in effect, you are trading the pullback in a trend (I get the feeling that's easier to trade than to explain, lol). I'll have a look see when / if I get the time and report back. Edit: Or simply enter on a pullback to the yellow line on the H4.
That's an excellent suggestion Lemercenaire, thank you.
I have wondered if the pullback to the line provides another opportunity to enter the trade.
  • #14
  • Sep 13, 2018 1:26pm Sep 13, 2018 1:26pm
Quoting Scchplendid
{quote} That's an excellent suggestion Lemercenaire, thank you. I have wondered if the pullback to the line provides another opportunity to enter the trade.
A pullback that fails to close back over the other side of your line-in-the-sand is a powerful ''go'' signal.
  • #15
  • Edited 2:36pm Sep 13, 2018 2:24pm | Edited 2:36pm
i like lets test
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  • #16
  • Sep 13, 2018 3:53pm Sep 13, 2018 3:53pm
UJ
D1
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W1
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M1
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H4 Higher High + uptrend
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conclusion:BUY
NICE TECHNIQUE
Profit growth tells you the trader ability.
  • #17
  • Sep 13, 2018 5:14pm Sep 13, 2018 5:14pm
[quote = Scchplendid; 11457703] Ciao, sto ancora testando questa strategia e gradirei ricevere qualche feedback dai trader più esperti, per favore? La mia strategia ha i seguenti componenti: Grafico mensile con candele rosse e blu. Grafico settimanale con candele rosse e blu. Grafico giornaliero con candele rosse e blu. Grafico a 4 ore con candele rosse e blu e questo è l'unico grafico da cui commercio. Mi scambio facilmente tra coppie di valute usando i pulsanti gialli. Grafico a 4 ore ACQUISTA le configurazioni da scambiare. Se le candele mensili, settimanali e giornaliere sono tutte candele BLU: Sul grafico a 4 ore, un rosso o blu ... [/ quote]

Per favore, spiega meglio: vorresti dire candele attuali o candele precedenti?
Il mese scorso, la scorsa settimana, ieri o il mese corrente, la settimana e oggi?

Non so come funzioni: normalmente più veloce anticipa il più lento; il piccolo anticipa il grande. This does happens with whatever indicator. Also with the candles.

Quando segui il mese precedente, i giochi sono già stati fatti e un H4 veloce può iniziare una nuova tendenza.

Mi piacerebbe avere più spiegazioni e se possibile qualche screenshot.

Mi piace la grafica pulita.

Grazie in anticipo.
  • #18
  • Sep 13, 2018 6:12pm Sep 13, 2018 6:12pm
Potrebbe essere utile?

Coloured candles D1

Bar W1
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.PNG Size: 49 KB
Attached File(s)
File Type: ex4 M-Candles.ex4   12 KB | 692 downloads
File Type: mq4 M-Candles.mq4   8 KB | 816 downloads
File Type: ex4 M-CandlesSW1.ex4   9 KB | 755 downloads
File Type: mq4 M-CandlesSW1.mq4   4 KB | 808 downloads
  • #19
  • Sep 14, 2018 3:41am Sep 14, 2018 3:41am
Quoting flashpaul
[quote = Scchplendid; 11457703] Ciao, sto ancora testando questa strategia e gradirei ricevere qualche feedback dai trader più esperti, per favore? La mia strategia ha i seguenti componenti: Grafico mensile con candele rosse e blu. Grafico settimanale con candele rosse e blu. Grafico giornaliero con candele rosse e blu. Grafico a 4 ore con candele rosse e blu e questo è l'unico grafico da cui commercio. Mi scambio facilmente tra coppie di valute usando i pulsanti gialli. Grafico a 4 ore ACQUISTA le configurazioni da scambiare. Se le candele mensili,...
Hi, through the powers of Google translate, I think I understand what you are asking in your post. Thank you for the indicators also however, I personally prefer not to trade with them as I do not trust indicators.

Here is how this started:
For buy setups - If the monthly, weekly and daily candles (i use blue coloured candles) are all the same colour, I would wait for a 3 candle setup on the 4 hour chart.
Candle 1 on the 4 hour chart closes and it does not matter whether it is a blue or red candle.
Candle 2 on the 4 hour chart closes and if it has a higher high, I draw a line from the high of candle 1 to the high of candle 2.
if candle 3 then closes above the line which i have drawn, I submit a buy order trade 10 pips above the high of candle 3.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 TF No Indicator Trading BUY 3.png Size: 70 KB
  • #20
  • Sep 14, 2018 3:48am Sep 14, 2018 3:48am
Quoting voketexpert
UJ D1 {image} W1{image} M1{image} H4 Higher High + uptrend {image} conclusion:BUY NICE TECHNIQUE
Thank you for your inputs Voketexpert.
I do still think that I am trading on the wrong time frame though as sometimes the buying or selling seems to be over at the end of candle 3 on the 4 hour chart.
Taking the advice from earlier posts, I am looking at Weekly, Daily, 4H and 1 Hour times frames where the candle colour is the same ahead of waiting for the 3 candle setup on the 30 minute chart.
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