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Point O Chart Trading

  • #1
  • First Post: Jan 22, 2019 9:24am Jan 22, 2019 9:24am
I have gotten so used to trading with the Point O Bars version of offline charts and whenever I place my templates on Renko and Range Bar Charts I get different visuals but I have decided to do away with ALL time based charts and other types of of offline charts and focus on the POC.

My approach is that of a simple "Line in the sand" with "Dual Screens", a higher Brick Chart for direction and a lower Brick chart for entries. The cranky part of this approach is knowing when to breach the line.
The end product may just be ready though I try different things every day.

The Higher brick chart
Attached Image (click to enlarge)
Click to Enlarge Name: RM 75.png Size: 75 KB


The Entry chart
Attached Image (click to enlarge)
Click to Enlarge Name: RM 76.png Size: 80 KB


New developments
Attached Image (click to enlarge)
Click to Enlarge Name: RM 77.png Size: 55 KB
Let it turn and find your entry.
  • #2
  • Jan 24, 2019 4:14am Jan 24, 2019 4:14am
Still tweaking and studying the price movements using different brokers, and it's interesting to note that the differences in the charts structures are solely affected by the spreads of the different brokers. Most of the time the Bid price quoted are just the same the ask price varies a lot and the brokers charts print different bricks in the same period of time.
Let it turn and find your entry.
  • #3
  • Jan 24, 2019 4:16am Jan 24, 2019 4:16am
Quoting Intrepidpips
New developments {image}
Seems to be tradeable safely for now, just have not had the time to back-test it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: BOP 1.png Size: 63 KB
Click to Enlarge Name: BOP 2.png Size: 60 KB
Click to Enlarge Name: BOP.png Size: 82 KB
Attached File(s)
File Type: rar POC.rar   1.2 MB | 810 downloads
Let it turn and find your entry.
  • #4
  • Jan 24, 2019 4:51am Jan 24, 2019 4:51am
Quoting Intrepidpips
The cranky part of this approach is knowing when to breach the line.
Taking entries from near or bouncing off the line can cut your accounts to pieces. Basically it's Buy only above the Line and sell only below the line but the Higher Brick chart may be saying "Buy" while price is below the line in the Entry chart. The tool that helps with this decision is "Double Tops/Bottoms"
When a Double Top forms above the line in the Entry chart and the Higher Brick chart is saying "Sell" just obey.
Attached Image (click to enlarge)
Click to Enlarge Name: RM 81.png Size: 120 KB
Let it turn and find your entry.
  • #5
  • Jan 24, 2019 5:12am Jan 24, 2019 5:12am
Quoting Intrepidpips
{quote} Taking entries from near or bouncing off the line can cut your accounts to pieces. Basically it's Buy only above the Line and sell only below the line but the Higher Brick chart may be saying "Buy" while price is below the line in the Entry chart. The tool that helps with this decision is "Double Tops/Bottoms" When a Double Top forms above the line in the Entry chart and the Higher Brick chart is saying "Sell" just obey. {image}
The dual screens help you see through and see a bigger picture.
Attached Image (click to enlarge)
Click to Enlarge Name: RM 82.png Size: 123 KB
Let it turn and find your entry.
  • #6
  • Aug 13, 2019 7:20am Aug 13, 2019 7:20am
5 brick/1 brick combo looks interesting.
Attachment g
Attachment g

Still working on the exits.
Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 087.png Size: 72 KB
Let it turn and find your entry.
  • #7
  • Aug 13, 2019 10:17am Aug 13, 2019 10:17am
Tweaking the rules as I go forward.
Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 088.png Size: 254 KB
Let it turn and find your entry.
  • #8
  • Sep 13, 2019 3:06am Sep 13, 2019 3:06am
......................................

Looks so promising so surreal.

Now to really clarify my entries and it would be a wrap.
Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 140.png Size: 296 KB
Let it turn and find your entry.
  • #9
  • Sep 13, 2019 7:40am Sep 13, 2019 7:40am
Quoting Intrepidpips
Now to really clarify my entries and it would be a wrap. {image}

Great scalping technique during trending periods don't do well in range bound markets so I moved to the lowest combination of Bricks size possible which is 2 pips and 1 pip.

So now to decide on strict entry and exit rules going forward.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: POC TRD NEW 141.png Size: 195 KB
Click to Enlarge Name: POC TRD NEW 142.png Size: 81 KB
Click to Enlarge Name: POC TRD NEW 143.png Size: 202 KB
Let it turn and find your entry.
  • #10
  • Sep 13, 2019 10:52pm Sep 13, 2019 10:52pm
Quoting Intrepidpips
{quote} Great scalping technique during trending periods don't do well in range bound markets so I moved to the lowest combination of Bricks size possible which is 2 pips and 1 pip. So now to decide on strict entry and exit rules going forward. {image} {image} {image}
Hi,

Trading on 1 or 2 pips is not a good option. It always ends badly. It is better to use bars 6 pips, GN 12 pips. Big bars with better signal quality. But this is just my opinion, do it better for you.

regards

Attached Image (click to enlarge)
Click to Enlarge Name: eu13.png Size: 47 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eg13.png Size: 37 KB
if you're doing we all have results with all
  • #11
  • Sep 16, 2019 5:34am Sep 16, 2019 5:34am
Quoting jarfx05
{quote} Hi, Trading on 1 or 2 pips is not a good option. It always ends badly. It is better to use bars 6 pips, GN 12 pips. Big bars with better signal quality. But this is just my opinion, do it better for you. regards {image} {image}
Thanks for your feedback.

You can actually trade the 2/1 successfully, it only requires that you don't loose more thas you win and cover your transaction costs like in any other kind of trading.

Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 147.png Size: 71 KB

Call it zero percent margin of error.

It gets better when you use the Higher Brick Chart to filter your entries on the Lower Chart (the 1 pip Bricks)
Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 148.png Size: 245 KB
Let it turn and find your entry.
  • #12
  • Sep 16, 2019 5:37am Sep 16, 2019 5:37am
I was able to catch a bit of the action at FO and LO.

I had to run some errands so I missed the remaining moves.
Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 149.png Size: 230 KB
Let it turn and find your entry.
  • #13
  • Sep 16, 2019 6:10am Sep 16, 2019 6:10am
I doubt that I have the patience to trade the 2/1 combo. on a slow day it's like watching paint dry.

Best would be to speculate which pairs would have higher flows and pitch your tent there.

Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 152.png Size: 60 KB

This would help in that regard.


So looks like GBPUSD would have yielded the goods using the 5/2.5 combination with this approach.
Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 150.png Size: 249 KB
Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 151.png Size: 240 KB


Let's see how it works out tomorrow.
Let it turn and find your entry.
  • #14
  • Sep 16, 2019 6:25am Sep 16, 2019 6:25am
Quoting Intrepidpips
{quote} Thanks for your feedback. You can actually trade the 2/1 successfully, it only requires that you don't loose more thas you win and cover your transaction costs like in any other kind of trading. {image} Call it zero percent margin of error. It gets better when you use the Higher Brick Chart to filter your entries on the Lower Chart (the 1 pip Bricks) {image}
your money, your business decisions

Attached Image (click to enlarge)
Click to Enlarge Name: tp.jpg Size: 190 KB
if you're doing we all have results with all
  • #15
  • Sep 19, 2019 1:10pm Sep 19, 2019 1:10pm
Quoting jarfx05
{quote} Hi, Trading on 1 or 2 pips is not a good option. It always ends badly. It is better to use bars 6 pips, GN 12 pips. Big bars with better signal quality. But this is just my opinion, do it better for you. regards {image} {image}

I think 20/5 is the best for high ADR pairs, will work on it, thanks.
Let it turn and find your entry.
  • #16
  • Sep 19, 2019 1:31pm Sep 19, 2019 1:31pm
Quoting Intrepidpips
{quote} I think 20/5 is the best for high ADR pairs, will work on it, thanks.

Something like this.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: POC TRD NEW 153.png Size: 213 KB
Click to Enlarge Name: POC TRD NEW 154.png Size: 200 KB
Let it turn and find your entry.
  • #17
  • Edited 8:53am Sep 20, 2019 8:05am | Edited 8:53am
Quoting Intrepidpips
{quote} I think 20/5 is the best for high ADR pairs, will work on it, thanks.

I'm sure you'll find the right balance between brick size and signal quality. Of course there will be bad signals but it is not a problem. Important is the power of big swing. It allows you to make up for the loss and earn...

Attached File(s)
File Type: ex4 Keltner Channel Pro.ex4   62 KB | 665 downloads
if you're doing we all have results with all
  • #18
  • Sep 20, 2019 11:29am Sep 20, 2019 11:29am
Quoting jarfx05
{quote} I'm sure you'll find the right balance between brick size and signal quality. Of course there will be bad signals but it is not a problem. Important is the power of big swing. It allows you to make up for the loss and earn... {file}

Thanks for sharing, I loaded the indicator on my charts and found it's much like a Keltner Channel indie with a JMA in it where there are signals for when the JMA crosses the Upper or lower channel.
Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 156.png Size: 261 KB

This crossing most times happen to be after 4 consecutive brick movement in up or down direction.

Seeming to be more reliable on the lower brick chart.
Attached Image (click to enlarge)
Click to Enlarge Name: POC TRD NEW 157.png Size: 245 KB


What do you think?
Let it turn and find your entry.
  • #19
  • Sep 22, 2020 10:39am Sep 22, 2020 10:39am
Quoting Intrepidpips
{quote} Seems to be tradeable safely for now, just have not had the time to back-test it. {image} {image} {image} {file}
I use this graphic model here in Brazil, included in the exchange's trading software here, how do I upload to mt5 to trade forex?
  • #20
  • Dec 2, 2020 1:38pm Dec 2, 2020 1:38pm
Quoting hgmaster
{quote} I use this graphic model here in Brazil, included in the exchange's trading software here, how do I upload to mt5 to trade forex?

I'd suggest you try the MT5 website, they offer Renko chart builders for MT5 there.
Let it turn and find your entry.
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