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4 Time Frame No Indicator trading

  • #41
  • Sep 18, 2018 5:08am Sep 18, 2018 5:08am
Quoting Scchplendid
{quote} Hi, Thank you for sharing your feedback and charts. 5 winners is good to hear too! I am keen to keep things as simple as possible and look forward to hearing more about your dashboard as I have tried to find something similar without much success. There are plenty of dashboards on the internet but none with a simple is it a red or blue candle formula.
Hi Scchplendid,

I think what you are looking for is this indicator which shows the color of the current candle bar in different time frames.

Try it out. It is not an indicator that I wrote and hence All credit should go to the coder who has written the code.
Attached File(s)
File Type: mq4 signalTable candle.mq4   9 KB | 772 downloads
File Type: mq4 SignalTableCandle Ram.mq4   9 KB | 746 downloads
  • #42
  • Sep 18, 2018 8:11am Sep 18, 2018 8:11am
Quoting DemandSupply
{quote} Hi Scchplendid, I think what you are looking for is this indicator which shows the color of the current candle bar in different time frames. Try it out. It is not an indicator that I wrote and hence All credit should go to the coder who has written the code. {file} {file}
Thank you for sharing, I will try it out this week.
  • #43
  • Sep 20, 2018 3:03pm Sep 20, 2018 3:03pm
Well, interested!
What's actual for now: M,W,D,H4 or W,D,H4,H1?
Just an opinion. Based on research
  • #44
  • Sep 21, 2018 2:46am Sep 21, 2018 2:46am
Quoting since80808
Well, interested! What's actual for now: M,W,D,H4 or W,D,H4,H1?
Hello,
I have looked this week at trading just W, D, H4 and H1 and I think that it does not work as well as M, W, D, H4.
As tempting as it has been to take the trades based on the H1 3 candle setup, a quick look at the monthly chart, after the trade had failed, confirmed this e.g. if the monthly candle is not the same colour as all of the other timeframes, the likelihood of failure increases.
  • #45
  • Sep 22, 2018 5:02am Sep 22, 2018 5:02am
hello i found this approach very interesting and i'm already testing...
my questions:
1. for the higher periods D1,W1,MN1 do we use always the current (means offset=0) ?
2. is there a need to have a minimum-diff (angle) between the 2 H4 HH ?
thanx
  • #46
  • Sep 24, 2018 2:24am Sep 24, 2018 2:24am
Quoting Oshadiif
hello i found this approach very interesting and i'm already testing... my questions: 1. for the higher periods D1,W1,MN1 do we use always the current (means offset=0) ? 2. is there a need to have a minimum-diff (angle) between the 2 H4 HH ? thanx
Hi Oshadiif, Yes, for the higher time frames that is correct. I have not yet experienced any reasons to not enter a trade that is fully setup based on the angle of the line between the 2 4H candles.

I am trying to do some real time examples this week. see below the AUDNZD potential setup which, based on my UK time zone, means that I will be watching for the third candle to close, above the line at 10:00 am, ahead of placing a buy order 20 pips above the high of the third candle.

Note: I have the 1H chart open also as I am still investigating whether I can enter the trade, based on the same 3 candle setup, and if M, W, D 4H charts are all the same colour candles, on the 1H chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 TF No Indicator Trading BUY 4.png Size: 122 KB
  • #47
  • Edited 10:03am Sep 24, 2018 3:12am | Edited 10:03am
Here's an example (real time) of what I am investigating via the 1H chart.
See screenshot in post 51
  • #48
  • Sep 24, 2018 3:24am Sep 24, 2018 3:24am
Here's one of the 1H trades, as per my post above but with a lot more detail.
My next move, at 09:30 am UK time zone, will be to move my stop loss up to my buy order entry point.

Note:
1) There is a potential trade on the 4H chart still once that candle closes at 10:00 UK time zone.
2) On the 1H chart, I added a buy order once the third candle had closed over the yellow line and once re-checked that M, W, D, 4H chart candle colours were all the same. please remember that this is me testing 1H trades only, my core trading is still via m, W, D, 4h charts.
3) I also always check support and resistance levels on all of the higher time frames too
Attached Image (click to enlarge)
Click to Enlarge Name: 4 TF No Indicator Trading BUY 6.png Size: 105 KB
  • #49
  • Sep 24, 2018 3:36am Sep 24, 2018 3:36am
hiii guys i think above strategy is good but you know trading in big timeframes cannot maintain proper money management as markets are generally moves range bound so these high timeframes trade can lead to big lossses if stuck.........
  • #50
  • Sep 24, 2018 4:09am Sep 24, 2018 4:09am
Quoting Scchplendid
{quote} 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.
time goes fly. Its okay, developing a new technique is not an easy think. I appreciate it tho.
Profit growth tells you the trader ability.
  • #51
  • Sep 24, 2018 5:38am Sep 24, 2018 5:38am
Further update from post 48.
I moved my stop loss to break even at 09:30.
I have now moved my stop loss to lock in a further 20 pips
Half of my trade was closed with 20 pips profit earlier.
Notice how the trade on the 4h chart (20 pips above 3rd candle entry) has now kicked in.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 TF No Indicator Trading BUY 7.png Size: 102 KB
  • #52
  • Sep 24, 2018 6:12am Sep 24, 2018 6:12am
Quoting Scchplendid
Further update from post 48. I moved my stop loss to break even at 09:30. I have now moved my stop loss to lock in a further 20 pips Half of my trade was closed with 20 pips profit earlier. Notice how the trade on the 4h chart (20 pips above 3rd candle entry) has now kicked in. {image}
And what do you do if the angle is very very big?
Just an opinion. Based on research
  • #53
  • Sep 24, 2018 8:17am Sep 24, 2018 8:17am
Quoting since80808
{quote} And what do you do if the angle is very very big?
I haven't experienced a failed trade which I can associate with the angle of the line between the first and second candle Since80808.
personally, i do not think that the angle matters, what matters is:
a) The third candle must close above or below the line you add from the 1st and 2nd candle.
b) Monthly, Weekly and Daily support or resistance levels are not approaching.
  • #54
  • Sep 24, 2018 8:26am Sep 24, 2018 8:26am
Another update from posts 48 and 51 ref testing M, W, D, 4H in real time and then taking the trade on the 3 candle setup via the 1H chart.
Stop loss with the remaining half of my original trade size moved up to +79 pips - see green line on 1H chart.
Interesting to note that the original buy trade on the 1H trade was at 1.9631 - see orange line on 1h chart.
The 4H 3 candle setup which also appeared was at 1.9689 see pink line on 4H chart attached.
That's 58 pips (slightly less than 58 due to spread) made using the 1H trade before the 4H trade setup. i'll keep investigating this.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 TF No Indicator Trading BUY 8.png Size: 108 KB
  • #55
  • Sep 24, 2018 3:45pm Sep 24, 2018 3:45pm
Quoting Scchplendid
4h chart (20 pips above 3rd candle entry)
May be correct the 1st post?

And what is your current initial SL?
Just an opinion. Based on research
  • #56
  • Sep 24, 2018 4:26pm Sep 24, 2018 4:26pm
Quoting since80808
{quote} May be correct the 1st post? And what is your current initial SL?
That's a good call and I have updated it accordingly.
My SL is still the same as post 36 e.g. 20 pips.
  • #57
  • Oct 4, 2018 9:41am Oct 4, 2018 9:41am
Hello,
I'm not a programmer, but I managed to do EA. This strategy does not work. Do you have any idea how to improve this strategy?
Attached File(s)
File Type: ex5 4TimeFrame_001.ex5   68 KB | 372 downloads
  • #58
  • Last Post: Oct 7, 2018 7:08am Oct 7, 2018 7:08am
Hi, here versions with adjustable TP, SL.
Attached File(s)
File Type: ex5 4TimeFrame_003.ex5   68 KB | 460 downloads
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