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Daily Chart 3-Candle

  • #941
  • Oct 24, 2018 10:21am Oct 24, 2018 10:21am
Quoting tony1200
http://prntscr.com/l9zglm nice setup http://prntscr.com/la01wr still pipin!
what would be your first target here? .8878?
  • #942
  • Oct 24, 2018 10:26am Oct 24, 2018 10:26am
Quoting tony1200
{quote} what would be your first target here? .8878?

Which pair is this Tony? At a glance I would say the high of the bearish bar that started that strong sell.
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  • #943
  • Oct 24, 2018 10:27am Oct 24, 2018 10:27am
just saw comment of swingman, very sad.
well hopefully people realize what they got here...its pure gold.
but the problem is that for many newbies the "best buy/sell levels" sounds too much complicated and hard work.
indeed the swingCandle indi (or 123 pattern from the first page) is very, very simple to understand.

i suggest start with this indi (or app, for the younger ones) and after a few weeks add the best buy/sell levels indi.
trading is like dancing, don't think and just listen to the music!
  • #944
  • Oct 24, 2018 10:31am Oct 24, 2018 10:31am
Quoting simoneg
{quote} Which pair is this Tony? At a glance I would say the high of the bearish bar that started that strong sell.
http://prntscr.com/la0ate

http://prntscr.com/la0c7x
  • #945
  • Oct 24, 2018 10:38am Oct 24, 2018 10:38am
Quoting birdland
just saw comment of swingman, very sad. well hopefully people realize what they got here...its pure gold. but the problem is that for many newbies the "best buy/sell levels" sounds too much complicated and hard work. indeed the swingCandle indi (or 123 pattern from the first page) is very, very simple to understand. i suggest start with this indi (or app, for the younger ones) and after a few weeks add the best buy/sell levels indi.
im working on the best buy best sells myself! a bit complicated atm!
  • #946
  • Oct 24, 2018 10:52am Oct 24, 2018 10:52am
Quoting tony1200
{quote} http://prntscr.com/la0ate http://prntscr.com/la0c7x
Any of the two Tony. I would place my tp at the higher one and see how price responds to the lower.
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  • #947
  • Oct 24, 2018 11:03am Oct 24, 2018 11:03am
Quoting simoneg
{quote} Any of the two Tony. I would place my tp at the higher one and see how price responds to the lower.
ok ….. when you backtest your system what were your findings? cause iv only seen a few losers on this thread,,,and many winners!


im looking for .8878....that's the daily best sell...
  • #948
  • Oct 24, 2018 11:47am Oct 24, 2018 11:47am
Quoting tony1200
{quote} ok ….. when you backtest your system what were your findings? cause iv only seen a few losers on this thread,,,and many winners! im looking for .8878....that's the daily best sell...
Sorry Tony, family time. I honestly have not recorded it like that to present figures but I have a good success with the system. Losers are relatively small and winners overlapping losers.
Maybe I should start posting my results...will see.
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  • #949
  • Oct 24, 2018 2:52pm Oct 24, 2018 2:52pm

New Version "sm3Candle SwingPoints_v3.1"


Here the Version with entry Levels for the SwingPoints.

Please test. Allerts in the next version.


The entry rules:


- For a bearish 3 candle setup, entry should be at the Highest Bullish Open Price of the 3 candles.

(If all candles are bearish then entry should be at the Highest Bearish Close price)


- For a bullish 3 Candle setup, entry should be at the Lowest Bearish Open price of the 3 candles.

(If all candles are bullish then entry should be at the lowest bullish close Price)

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily-SwingPoints-3.1.png Size: 43 KB
Attached File(s)
File Type: ex4 sm3Candle SwingPoints_v3.1.ex4   22 KB | 785 downloads
  • #950
  • Oct 24, 2018 3:19pm Oct 24, 2018 3:19pm
Quoting SwingMan
New Version "sm3Candle SwingPoints_v3.1" Here the Version with entry Levels for the SwingPoints. Please test. Allerts in the next version. The entry rules: - For a bearish 3 candle setup, entry should be at the Highest Bullish Open Price of the 3 candles. (If all candles are bearish then entry should be at the Highest Bearish Close price) - For a bullish 3 Candle setup, entry should be at the Lowest Bearish Open price of the 3 candles. (If all candles are bullish then entry should be at the lowest bullish close Price) {image} {file}

Awesome SwingMan! Will be testing.
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  • #951
  • Oct 24, 2018 4:11pm Oct 24, 2018 4:11pm
Hi swingman,

thank you for your effort. i noticed that on the screen shot some candles that are flagged number 3 don't refflect the scenario on Post 1 wich is in a bullish setup the 3rd candle close has to be higher than the first candle close and vice versa.
please see attachment
am i missing something ?

the second attachement shows the closing price of the 3rd candle above the closing price of the 1st one
does it mean that the setup is there as long as the closing is below the open price of the 1st candle for sell outlook ?

Thanks
Attached Images
  • #952
  • Oct 24, 2018 4:26pm Oct 24, 2018 4:26pm
Quoting whitefox
Hi swingman, thank you for your effort. i noticed that on the screen shot some candles that are flagged number 3 don't refflect the scenario on Post 1 wich is in a bullish setup the 3rd candle close has to be higher than the first candle close and vice versa. please see attachment am i missing something ? the second attachement shows the closing price of the 3rd candle above the closing price of the 1st one does it mean that the setup is there as long as the closing is below the open price of the 1st candle for sell outlook ? Thanks {image} {image}...
Hi whitefox,

This version reflects a filter which helps with fakeouts and weak setups. I will be updating in post#1 as soon as we are done testing and finalised.
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  • #953
  • Oct 24, 2018 4:46pm Oct 24, 2018 4:46pm
Quoting whitefox
Hi swingman, thank you for your effort. i noticed that on the screen shot some candles that are flagged number 3 don't refflect the scenario on Post 1 wich is in a bullish setup the 3rd candle close has to be higher than the first candle close and vice versa. please see attachment am i missing something ? the second attachement shows the closing price of the 3rd candle above the closing price of the 1st one does it mean that the setup is there as long as the closing is below the open price of the 1st candle for sell outlook ? Thanks {image} {image}...
Looks like it would be trading breakouts....this system seems not to give the retest to get in the direction .....
  • #954
  • Oct 24, 2018 4:53pm Oct 24, 2018 4:53pm
Quoting tony1200
{quote} Looks like it would be trading breakouts....this system seems not to give the retest to get in the direction .....
Great work.....hope it works out!
  • #955
  • Oct 24, 2018 5:14pm Oct 24, 2018 5:14pm
Did anyone notice that :
1. you had less failed trades?
2. that the update more easily yielded profit?
3. rejections were better identified?
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  • #956
  • Oct 24, 2018 5:28pm Oct 24, 2018 5:28pm
Quoting tony1200
{quote} Looks like it would be trading breakouts....this system seems not to give the retest to get in the direction .....
Are you sure Tony?
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  • #957
  • Oct 24, 2018 5:32pm Oct 24, 2018 5:32pm
SwingMan,

The BUY ENTRY LINE color does not work when I try to change it.
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  • #958
  • Oct 24, 2018 10:39pm Oct 24, 2018 10:39pm
Hi All, what does it mean best Buy or best Sell ? To put an Limit Order at this Line H4 Line, or what are the rules, Thanks in advance
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 194 KB
  • #959
  • Oct 25, 2018 12:29am Oct 25, 2018 12:29am
Quoting nschwegl
Hi All, what does it mean best Buy or best Sell ? To put an Limit Order at this Line H4 Line, or what are the rules, Thanks in advance {image}
successful trading consists simple of three elements (and one more)

1) detection of support&resistance (trendline, fibonacci, moving average, round numbers, etc...)
therefore we are working here with Best buy/sell Levels.

2) correct interpretation of Price Action (PinBar, CandlePatterns, recection pattern, etc...)
therefore we are working here with SwingPoints (or call it 3-Candle)

for 1) and 2) ready indicators on the page#1 exist to download and to help the trader in their decisionmaking.

3) proper money management
to make things easy to understand: i suggest to risk max. 1-2% per trade.

and overall the most important part is a balanced personallity, the psychological part of trading.
trading is not a job, its a calling! if you dont fall in love with charts, forget it! do something else!
and dont trade to get rich! with this attitude you will get poor soon.
when you like your charts, indicators and your live, richness will come automatically to you!
trading is like dancing, don't think and just listen to the music!
  • #960
  • Oct 25, 2018 1:43am Oct 25, 2018 1:43am
Quoting nschwegl
Hi All, what does it mean best Buy or best Sell ? To put an Limit Order at this Line H4 Line, or what are the rules, Thanks in advance {image}
if one does not read the whole thread, then one does not have the faintest idea of what "best buy and best sell" are, as they are not mention in post #1.
and so be it because it does not take much effort to read a few pages if one really wanted and interested to know and explore.
may be i can help you a little bit. start digging from post #441 onward. i think that was where it started.
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