High Level Accuracy Method – “3-bar pattern Indicator/Alert”

Freefox. I think you've done a great piece of work and we should all be very thankful. As you stated at the beginning this does not substitute for people using their brains, and it isn't a guaranteed signal or anything close to that - it is a trigger for us to look for the opportunity . I have changed some of your settings to my own personal preferences on different crosses and it works very well.
I think it is important that we should need to adjust and change settings from time to time, because the markets change - a lazy trader is a loser. As traders we should be on top of all our work and that also means bringing settings up to date when needed.
Personally i am finding that the M15 is the most reliable signal (maybe 40% without taking into account trend direction or accumulation) but that is not the case for all crosses.
Many thanks

Hey Freefox

just a nod of respect to you for your time, energy and professionalism. You didnt have to share this EA and kept it to yourself ... but you didnt. You need to give it away to keep it ... and you are doing that. Respect

On another front, FXCyborg's setups are really good and helping me a lot. But I was driven insane scoring pairs / timeframes. This indi is the Dogs B?llox ... and discretionary mode is great .... So again, huge respect for sharing ...

Hi Freefox,
I am so thankful for your great job , spending a lot of time and your special skills on this indicator, reviewed all posts in FxCyborg and here too,is it possible to have a this indicator for MT5 as well, or any method to transfer the data from MT4 to MT5,... Apologies as I am not too expert on coding ....

Hi,

Sorry, but won't be creating a version for MT5. Just enough keeping up with the one version.

Thanks for the positive comment and glad you're finding it useful.

You are 100% correct about the market changing and us not getting lazy. Some seem to think there is some sort of 'Holy Grail' indicator, just drop it on the chart and all the work done for us. If only ....

I think Bruster400's suggestion about building in a volatility setting will also be very helpful around adjusting the settings automatically for the the current pair/time-frame the indicator is attached to. The defaults settings as they are now are a reasonable base but like you say there is no substitute for dedicating time to understanding and mastering trading and doing the work for ourselves.

There is actually another missed set up on your screen shot, its right at the swing high prior to your first area you circled.

Please read the subsequent reply I made. It is entirely accurate what it is doing.

https://www.forexfactory.com/showthr...5#post11996375

And the one you incorrectly claim is missing appears on that image I included in that post - because it is all about what settings you use.

Again I say READ THE OPENING POST as to what control you have of the settings and based on those settings what will and will not be shown. This isn't hard!

Some are getting it as subsequent comments show and are fully understanding what the pattern detection is all about and thus can trade from it.

If you don't really grasp what patterns you should be considering for trading you will have no chance trading using this method.

Hi Freefox, can u add the entry line and breach line indicator

Hi,

No. As for reasons started earlier. This is just a tool to identify potential patterns of interest. It will identify a load on any given time frame based on the settings you are using.

It is up to the individual trader which one, given the overall context, are worthy of consideration. An automated indicator can't do that assessment for you - down to the individual trader to assess and draw what lines they see as key to trade from.

Thank you for the efforts,
A little demo of how I combined your indi with my own trading style. You gave me a great entry , so thank you

https://www.youtube.com/channel/UCsL...g_gmaWl8w/live

This one is live now and is on GBPAUD m5

Excuse me? I do have a life. lol I am allowed to take time off, am I not?

He has NOT improved this method actually. I see inconsistencies with it.

I did kindly ask ppl not to make an indicator unless contacting me first. Why? For the main reason taking the ability away for ppl to trade it manually. If they are not going to understand the method put to them, then they will not know how to use the indicator. This will make them pissed off and more time has been taken away from them to actually learn.

I have no minds about a person creating an indicator alert when a setup is found, but due to the above, I prefer the people to work with me first rather than pushing out an indicator that does not produce consistent found setups.. there are parameters that need to be put in place first which has not been done, and this will result in a lot of false positives.

isn't needed.

I think an indicator that shows a lot of false positives is good. I agree no one should really rely on an indicator and should trade naked if possible. However due to traders on the other OP forum not having a clear understanding of what levels to trade the pattern from, I would hope this indicator highlights which levels not to trade.
The indicator doesn't highlight or filter a previous consolidation period. Other than that it's awesome for the reasons I stated above.
An indicator can at least bring consistent alerts to what ever it is programmed to do. Where as most traders will see a set up where there is not one due to their eagerness to lose money.

Hi Freefox,

Your job is much appreciated and the method of FXCyborg is excellent as well

Could you please add the feature "If any paris has an alert, the indicator will pop up the notication even though we just load the indicator in 1 window"?

It will save us more time and make the computer faster.

The attached indicator also has the above suggested feature.

If anyone do not have an alarm indicator (attached file) when Price touchs your Zone, Trendline, you can use it.

Once again, thank you for your Contribution !!!

False positives helps you understand variations which in turn, will help you create a much unique trading system. Many people see false positives as randomness of the market, but it could.be someth ing much deeper.

Hi FXCyborg,

Thanks for popping by.

I entirely agree with you - I have not improved your method one bit and in my reply to pipsy7's post I actually said that. (But his sentiment was that he was very grateful of my contribution which I am thankful for his appreciation. An many, many, many others have expressed the same positive sentiments in spite of invalidated criticisms from a very small minority). I have done this entirely for free with the sole intention of helping the FF community and making your wonderful method easier for people to apply. It's far better to give encouragement to people than criticism (even when there is disagreement), particularly when it is unwarranted and unsubstantiated and that is my philosophy I adopt in all walks of life, not just trading. I am thankful for those that show appreciate for the hard work I have put in here. As I am sure you are thankful for those that show appreciation and support of your own great contribution.

What I have provided as I have repeatedly said is a very useful tool to identify the potential patterns. And it does this extremely well, though always open to improvements. But it does not excuse the trader from then doing the hard work and then evaluating the trading context (using their brain as I said in my opening post) to decide if the pattern should be traded off, assessed using the rest of your method. In the end it is just a way of helping people with the first step quickly. But an extremely useful tool nonetheless with loads of features and flexibility built in.

You say there are inconsistencies with it - I beg to differ, and again people using it think otherwise and see the usefulness of it. There are some that have pointed out 'inconsistencies' (as you you call them) in your own application of your identification of these 3-bar patterns. I call it discretion. For example your stated requirement for both bodys of bars 1 and 2 to be comparable ideally. 'Ideally' is interpretive and a very subjective term. What does that mean - 50, 60, 70% the same or more? It is obviously imprecise and thus open to interpretation; thus at the core of your method is something that allows for discretion. Hence I have built that into my indicator - but again you can turn it off, to have a more stricter selection if you want to. But clearly you don't follow yourself the body size requirement when identifying all patterns to use - probably assessing based on experience and other context they appear in of whether they are 'good' or not. (People on your own forum thread have pointed out repeatedly this apparent arbitrariness of application. I'm not the only one, but I see great value in your methodology in-spite of that. Trading seldom offers precision in taking money from the markets

The indicator I have developed has this discretionary element built in so it can capture even those setups that are not 'strictly' according to your 'ideal' setups. Take for example your own opening post, the EURUSD 30M trade example - the bodys are in no way near comparable yet you chose to trade off it?? My indicator captured that (see my opening post where I took all your example trades and loaded my indicator on the same time period. Viola, captured them all spot on ) So those inconsistencies as you call them, are merely making a judgment call of if it follows the essence of what you want to trade off, just as you do through intuition and years of accumulated screen time and experience.

I posted in your own thread and I took every single one of your 6 trade examples in your opening thread post, extrapolated them and showed how the indicator picked them all up. ALL of THEM. I could do the same with any single trade example you put up. EVERY SINGLE ONE. I am confident in the indicator but like your method you have to then use the context and experience to get the best from it.

When I posted my analysis with detailed images of your 6 trades and how the indicator identified them all you immediate disliked the post and said they were not your trades without taking the time to see they were in fact precisely your own trade examples from your OP. (maybe the fact that the different colour scheme confused you on cursory looking?) I have those images posted in my own opening post as validation of the indicator on you own trades you selected as my post is no longer visible in your thread since you disliked it

I was disappointed in you disliking my post (first time in over 12 years of FF when all I was doing was contributing to your thread) and only trying to help others see the power of your method. But it is your thread and it is up to you and your motives how you want to control the things there. My post though got over a dozen likes and was the hottest post on FF that day It shows people saw the value in it before you made it invisible and are open minded in how an indicator can help.

I fully agree with you when you say if people rely exclusively on an indicator without really trying to understand the methodology behind it then they are going to get frustrated and not want to learn. They will fail. BUT the identification of the 3-bar patterns are not so much of the issue here - that is easy to do pretty much - an indicator just makes it quicker and easy allowing to people focus on the rest of the methodology and getting to grips with that (far more difficult task). You have already seen from your own thread many people are lazy and not willing to really read and fully understand things regardless of how many times you have said the same thing, and we can see your frustration as things develop. But those people that ARE willing to dig deep, understand and get to grips with the methodology are those people who understand the indicator and how it can become a powerful ally in their trading. The two can work together given a chance and should not be exclusive.

Like I say, the indicator is very robust flexible and reliable and able to identify any time you use a pattern to enter a trade off. You claim it produces inconsistent setups but rather than make an unfounded assertion I have provided evidence to the contrary. Does it identify patterns that we are not interested in - sure it does, but just as you ignore those patterns when you see them manually on your own charts based on other context, the trader ignores them when the indicator highlights them.

In the end as I have repeatedly said using the indicator is no excuse for not using your brain and applying the rest of the methodology for trade selection. It is just a tool to help in quicker identification and have pop up alerts when these occurs. Plus at nearly 1500 downloads clearly many people see the value in it, regardless of your own views. Sure most of those will struggle applying the method (just as in your own thread) because the patter identification is only the first step and can't be used in isolation.

By the way please don't read any criticism into any of the above ... these are just observations that not only myself have pointed out but others too. Plus where required I have back up statements with proof rather than just generalised assertions.

Finally, I reached out to you with a long private message (PM) telling you about the indicator and with an outline of the features. It is definately very close to the spirit of how you personally identify patterns (even allowing for discretion if you choose to turn on that feature), as it identifies every pattern that you have provided examples for. Not seen one it hasn't been able to identify yet!! I offered in my PM that if you wanted to add anything please let me know so that we can all work together in the FF community as others are doing so. That offer still stands.

Once again I thank you for making this method know to us all. Those who really commit to understating it fully I am sure will become better traders as a result. I know from personally having to code this indicator I have had to really think deeply about using the methodology and that has helped tremendously in using the indicator and applying the rest of the methodology to making green pips last week. Thank you. I hope the trading gods give green pips to all who are taking the time to use this great method and the indicator helps that quest.

exactly

IMO... you're 123 setup isn't consistent with FX's rules. Bulls aren't roughly the same size and bullish is bigger than both by a mile. Your entry point is actually looking better which means you should wait for the pullback from that support for entry. You likely just got lucky... but that's just me.

The indictor is good for scanning pairs and you should use your own discretion to filter signals. Not criticizing anyone, just an observation.