Simple H4 Mobile Trading System

Quoting Trinquete

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If you wait for the close of the next candle, where you put the entry . or wait for the retrace? {image}

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Quoting Trinquete

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In this case, the next candle close above of the engulfing candle, showing a good setup of your analisis, but didn't retrace to take the trade. Can explain please, to understand where you take the trade? {image}

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Quoting josephkee

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Another engulfing that failed the test. I do not take this engulfing into my test. You see the bars that follows did not close below the low. You see prices goes the opposite. I do not have to find so hard to substantiate my case. You just need to looked back your charts and it is popping out before your eyes. {image}

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Quoting josephkee

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{quote} Hi Trinquette I simply enter on the next candle after the confirmation. Don't care about retrace etc. Pure and simple. This one reached fibo 200 even though I am late/ Hope it answers. If not post again.

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Quoting josephkee

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{quote} I enter after the confirmation bar to see that it really close above the engulfing bar in the example you brought up. If it does not, I ignore it. Please see chart. Hope it answers your question. Are you ok to test another pair? Or you can take my test and reconfirm if your figure is close to mine? Thanks {image}

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Quoting josephkee

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Another failed engulfing USDCHF. See chart You can see next to the failed engulfing is one that I took in. The bullish engulfing followed by confirmation and reached fibo 200. So my point is do not take engulfing that has no confirmation. There are so many that has so why take the risk. From yesterday test it is 94 wins and 21 loss out of just 4 pairs that is about 20% losses and 80% wins estimated? If that is the case out of 10 trades you will lose only 2. Set and forget and let it run till fibo 200. Backested usdchf from may 1 till today RESULT...

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Quoting TradeForexFx

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{quote} Replaces the previous indicator uploaded by me. (Post #1023). Updated for - Bar calculations - three types of engulfs, with three levels of colors - includes signals with or without MA condition - included minimum and maximum bar length for signals - Included Fibo TP and SL (based on the lookback bar) - Lookback desired number of bars for reviewing signals at those bars (0 for current bar, 1 for previous bar and so on) I am unable to add email alert, push notifications etc. TF {image} {image} {file}

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Quoting reisai

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{quote} So u take all trade that shows inside and outside engulfing candle?

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Quoting vianiah

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The strategy is interesting, made a couple of euros of it. The problem is what if you are busy and can't monitor all the charts, losing a great opportunity when it comes. So the solution is I made an EA that monitors all the pairs in the market, major, minors, exotic or metals, and send me a notification through my phone, so that I can verify it and trade it. Good job on the strategy. Note: Always consider also if there are news within that time, because anything can happen. Happy Trading. {image}

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Quoting josephkee

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Hi folks who want to take this trade when Monday comes. USDCAD sell H4 TF. It has every thing, below ema30, engulfing and a confirmation bar. Remember the backtest shows 24 wins only 6 losses. That's 75% probability you win. {image}

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Quoting ahgang

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{quote} Hello Mate Thanks for sharing your research and development.Btw, once engulfing bar happen, how many bars later consider valid take the trade?

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Quoting josephkee

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{quote} just came back from my jog. What do you mean inside and outside engulfing candle? An engulfing is aka outside bar, not sure what you men inside bar. In candlestick, inside bar is a complete different pattern, usually inside a mother bar. Please explain what you mean inside engulfing candle. This week, I am going to enter USDNOK sell as this chart show. I may win or I may lose. No 100%. But after doing the back test, its give me more confidence to just do it. You guys should do the same. At least you do the test yourselves you feel more confident....

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