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Quad Candle System

  • #2,761
  • Edited 10:24pm Nov 11, 2018 1:20pm | Edited 10:24pm
Ideea #2

CHF-SGD manage to get back in again...

UPDATE: I'm back again at the initial entry price: 1.37091
Forex - It's finger lickin' good
  • #2,762
  • Nov 11, 2018 2:51pm Nov 11, 2018 2:51pm
Quoting Masterrmind
Quad Candle Dashboard (v1.03) A sneak peek ! {image} Thats probably about it in its raw form for v1.03 (to be released after some more testing but its good to go). Explanatory notes will be provided later outlining what the data represents in all the columns. v1.04: Future upgrades may have multiple alerts (sound, pop-up, email, smart phone) and improving presentation and usability. I'll also add in "buttons" for at least the symbol names so that preferred charts can be opened by a mouse click (simple enough). Note: There is only so far...
where i can get v1.03? my v1 won't work. error
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  • #2,763
  • Nov 11, 2018 4:19pm Nov 11, 2018 4:19pm
Hi MasterMind

Love your New Quad indicators but I am not seeing the MML lables for the Higher time frames 4H.... Daily...W1 etc

Thank you,

Jeff
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Happily Married to MY College Sweet Heart!
  • #2,764
  • Nov 11, 2018 5:08pm Nov 11, 2018 5:08pm
Quoting pipsandkfc
{quote} Thank you for your input. Actually, I feel I'm forced to trade all forex pairs, except the ones that involve unstable currency like RUB and TRY? I'm saying that because I must find 5-6 opportunities a month ideally and at least 3. So, I have to trade all pairs and get a good understanding of at least spreads, gaps and similar aspects. As per your advice indices and stocks require further knowledge that I wish to accumulate but I must stick to doing one thing well before progressing. I must grasp D1 trading then look how to add additional...
Regarding the correlations there are multiple sources available online or indeed indicators and dashboards available.

I suggest starting at myfxbook and perusing their correlation tables.

Go to Market >> Correlation

Click on the "More" tab to choose your own preferred list of symbols.

Choose Timeframe (1 Day, 1 Week or 1 Month)
Example for Monthly TF
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I recommend analyzing all 3 periods to form an opinion only.

Caution: Use the correlations as a general guide only do not rely on the correlations to remain fixed for the future, they will converge and diverge.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,765
  • Nov 11, 2018 5:20pm Nov 11, 2018 5:20pm
Quoting General Lee
{quote} where i can get v1.03? my v1 won't work. error {image}
What does the Alert say ?

1. Open the indicator settings window;

2. Go to the variable "Symbols"

3. In the value tab double click inside to highlight the listed symbols;

4. You need to locate an incorrectly listed symbol which is causing the error alert to occur.

Try XAUAUD first as it might be a non-symbol on your broker !

ps. v1.03 will not be released yet, as I have mentioned in a few posts back it is still being tested.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,766
  • Nov 11, 2018 5:22pm Nov 11, 2018 5:22pm
Quoting Masterrmind
{quote} What does the Alert say ? 1. Open the indicator settings window; 2. Go to the variable "Symbols" 3. In the value tab double click inside to highlight the listed symbols; 4. You need to locate an incorrectly listed symbol which is causing the error alert to occur. Try XAUAUD first as it might be a non-symbol on your broker ! ps. v1.03 will not be released yet, as I have mentioned in a few posts back it is still being tested. Masterrmind.............
will try mate
  • #2,767
  • Nov 11, 2018 5:40pm Nov 11, 2018 5:40pm
Quoting Masterrmind
{quote} What does the Alert say ? 1. Open the indicator settings window; 2. Go to the variable "Symbols" 3. In the value tab double click inside to highlight the listed symbols; 4. You need to locate an incorrectly listed symbol which is causing the error alert to occur. Try XAUAUD first as it might be a non-symbol on your broker ! ps. v1.03 will not be released yet, as I have mentioned in a few posts back it is still being tested. Masterrmind.............
done. so how to use this system...?
  • #2,768
  • Nov 11, 2018 6:48pm Nov 11, 2018 6:48pm
Quoting Jeff59FX
Hi MasterMind Love your New Quad indicators but I am not seeing the MML lables for the Higher time frames 4H.... Daily...W1 etc Thank you, Jeff {image}
Hi Jeff59FX,

Please delete that indicator completely.

Download the new indicator from within the QCS_MT4 zip folder located in Post 1.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,769
  • Nov 11, 2018 6:57pm Nov 11, 2018 6:57pm
Quoting General Lee
{quote} done. so how to use this system...?
Please peruse all the material and information in Post 1 at your leisure.

After you have done so then feel free to ask questions to assist in filling in any gaps or areas of concern.

The Quad Candle System is traded on the D1 TF for the most part so this trading is for the longer term type traders who possess great patience.

If you are after a quick buck as in scalping type trading then this thread is probably not suited to you.

The QCS is a structured trading methodology which seeks to gain highly confluent entries into the market after sufficient analysis across the technical, economic, fundamental and political fields have been completed.

Note that the Quad Candle Dashboard is simply a tool to highlight symbols worthy of additional analysis, a time saver only and certainly entries must not be taken based purely on the signals that it generates !

Welcome to real trading !

Masterrmind.............
Master your Mind then Master your Trades
  • #2,770
  • Nov 11, 2018 7:06pm Nov 11, 2018 7:06pm
Hi Mastermind

Thank you for the rapid response! It Now works Great! I was wondering if this New Quad going to replace the older templates and Indicators in the folder Marked "MASTERRMIND-QUAD-MML SYSTEMS" ?

Thanks again

Cheers,
Jeff
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Happily Married to MY College Sweet Heart!
  • #2,771
  • Nov 11, 2018 7:22pm Nov 11, 2018 7:22pm
Quoting Masterrmind
{quote} Please peruse all the material and information in Post 1 at your leisure. After you have done so then feel free to ask questions to assist in filling in any gaps or areas of concern. The Quad Candle System is traded on the D1 TF for the most part so this trading is for the longer term type traders who possess great patience. If you are after a quick buck as in scalping type trading then this thread is probably not suited to you. The QCS is a structured trading methodology which seeks to gain highly confluent entries into the market after...
aah ok. thanks mate...
  • #2,772
  • Nov 11, 2018 8:28pm Nov 11, 2018 8:28pm
Quoting Jeff59FX
Hi Mastermind Thank you for the rapid response! It Now works Great! I was wondering if this New Quad going to replace the older templates and Indicators in the folder Marked "MASTERRMIND-QUAD-MML SYSTEMS" ? Thanks again Cheers, Jeff {image}
Yes it will.

There will be a few zip folders such as:

QCS_MT4
QCS_MT5

QuadCandleDashboard_MT4
QuadCandleDashboard_MT5

The QCS folders will contain all the indicators the templates and any scripts.

The QuadCandleDashboard folders will be reserved for only Dash updates and various templates.

ps. Some useful indicators may be taken from the older QUAD-MML zips (to be deleted soon).

Masterrmind.............
Master your Mind then Master your Trades
  • #2,773
  • Nov 11, 2018 10:30pm Nov 11, 2018 10:30pm
EUR-GBP opened with a gap so I guess it's best to wait to see if we can get a better entry price as per rule: gaps must be filled?
NZD-JPY in monitoring mode
Forex - It's finger lickin' good
  • #2,774
  • Nov 11, 2018 11:06pm Nov 11, 2018 11:06pm
Quoting pipsandkfc
EUR-GBP opened with a gap so I guess it's best to wait to see if we can get a better entry price as per rule: gaps must be filled? NZD-JPY in monitoring mode
EG

Usually gaps get filled but not always.
Check out the flow of economic data this week and see if that provides any clues.

For a long setup considering a pullback to the downside to fill the gap a pending Buy Limit order could be placed @ 0.87280 to target the 90 handle.

Alternatively, apply a Buy Stop order @ 0.87891 to target the 90 handle.

Or place both pending orders and when 1 triggers simply cancel the other.

I'm not interested in EG at this stage although other traders might like to consider it.

Masterrmind..............
Master your Mind then Master your Trades
  • #2,775
  • Nov 12, 2018 1:04am Nov 12, 2018 1:04am
Quoting OAPDave
{quote} Your UJ is looking good ? {image} {image} {image}
Yes its started to head up the chart.

Whether or not it can make a break and stay above the 114 handle is the big question.

Next major obstacle after the 114 handle is at 114.500.

I'd be happy with it eventually tagging the 115 handle but lets wait and see and in any case its positive swap to the long side so price can range at current levels for as long as it likes if it wishes.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,776
  • Nov 12, 2018 12:26pm Nov 12, 2018 12:26pm
Quoting Masterrmind
{quote} EG Usually gaps get filled but not always. Check out the flow of economic data this week and see if that provides any clues. For a long setup considering a pullback to the downside to fill the gap a pending Buy Limit order could be placed @ 0.87280 to target the 90 handle. Alternatively, apply a Buy Stop order @ 0.87891 to target the 90 handle. Or place both pending orders and when 1 triggers simply cancel the other. I'm not interested in EG at this stage although other traders might like to consider it. Masterrmind..............
Thank you for the advice. I think I also have to stay out because to be in 2 trades at the same time means I should've planned split the risk among them? If I understood correct, when we say I'm risking a 3% of account it meanst that meansen trades have this % or each should be up to a maximum of 3 %?
Forex - It's finger lickin' good
  • #2,777
  • Nov 12, 2018 12:56pm Nov 12, 2018 12:56pm
Mastermind,

Interesting thread and I like the fact you are trading it live. Congrats!

Assuming that AUDCAD is a down candle at the end of today (in an hour), does this fulfill the requirements for a short trade?

Thanks
  • #2,778
  • Nov 12, 2018 4:23pm Nov 12, 2018 4:23pm
Quoting pipsandkfc
{quote} Thank you for the advice. I think I also have to stay out because to be in 2 trades at the same time means I should've planned split the risk among them? If I understood correct, when we say I'm risking a 3% of account it meanst that meansen trades have this % or each should be up to a maximum of 3 %?
Ideally you should have an assigned risk per trade and an assigned risk across the entire account.

At 3% if you were planning 3 entries then allocate approx 1% per entry noting that not every trade needs to be the same risk but total risk should certainly be capped.

It should be clear that perhaps 3% for a planned single entry setup might be ok but if 3 entries were planned then 9% across the account is considerably higher.

Assigned risk is always at the discretion of the trader.

Masterrmind.........
Master your Mind then Master your Trades
  • #2,779
  • Nov 12, 2018 4:37pm Nov 12, 2018 4:37pm
Quoting pakeha
Mastermind, Interesting thread and I like the fact you are trading it live. Congrats! Assuming that AUDCAD is a down candle at the end of today (in an hour), does this fulfill the requirements for a short trade? Thanks
AUDCAD [D1 TF]

This pair currently displays a Quad Short pattern.

Quad patterns do not consider current bar color.

After Quad pattern is confirmed and ALL analysis has been completed and the over-riding bias is to the short side then an entry some time during the current D1 bar should be made.

The trader has the choice to wait later (but within current D1 bar) for an entry if more intraday PA is to be considered including the use of lower TFs and to see what price does at major session open times.

Always attempt to gather as much confluence as possible including favorable PA on the day the entry is to be made.

Masterrmind.......
Master your Mind then Master your Trades
  • #2,780
  • Edited 5:02am Nov 13, 2018 4:37am | Edited 5:02am
I would be dangerous if I knew what I was doing
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