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

  • #101
  • Feb 17, 2019 2:21pm Feb 17, 2019 2:21pm
Quoting ScorpioForex
{quote} 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 indicator is good for scanning pairs and you should use your own discretion to filter signals. Not criticizing anyone, just an observation.
Yep, I get that but as we have seen throughout the discussion on both threads, this is a very discretionary setup. To the point where no one would be able to make an algo out of it. Which to me means it's okay for maybe taking a quick scalp here and there to buildup the account.
I'd be keen to know if any serious trading firm would base their trading style on this in the manner the original OP has described it.

I actually used the setup inside my own trading plan and maybe it was a fluke that it worked that time, however, I would have taken the trade anyway, I just got a better entry with the use of the indicator. I think if we are honest and have a similar amount of chart time as each other, I reckon we could find multiple setups which had a good RR but didn't follow the exact methodology (though I still can't see any exact parameters within the original method) all the time.
  • #102
  • Feb 17, 2019 3:33pm Feb 17, 2019 3:33pm
Quoting Freefox
{quote} 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...
_______Beautifull - - - usually i nvr read Long post , this one i red every word = my sincere Respect m8 !
da n0o0b + $hit_Disturber
  • #103
  • Feb 18, 2019 7:43am Feb 18, 2019 7:43am
Hi All,

Just added new improved version of the indicator.

See the Version History in the Opening post for more details and to download it. (I will update all the full detailed documentation in the opening post later when I have time, but excited to get this new release to you the as the 'Discretionary Logic' is a lot improved and more intuitive.

But simplistically changes are - vastly improved the Discretionary Logic - I'm sure you'll find it even better at finding those patterns that don't have bodys 1&2 comparable in size but nonetheless are good potential engulfing patterns to trade from.

Plus major improvement is I have added a volatility percentage for calculating the 'Min Body' requirement for bars 1 & 2. Many thanks to Bruster400 for initially suggesting something along these lines in his post here:

Quoting Bruster400
Great work Freefox - and even more generous that you're prepared to support a thread about it!! Just a suggestion to be put on the pile I'm sure you already have... Your MinBody setting is designed to prevent the indicator picking patterns from small candles. By specifiying this in pips it means you have to set it for each timeframe AND for each currency. The user has to create an optimised setting for each pair and timeframe they use it on - and this could change over time as volitility changes. What if the indicator calculated the average size...
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #104
  • Feb 18, 2019 7:47am Feb 18, 2019 7:47am
Firefox

what a brilliant improvement(s) and I am going through the charts now and its awesome ... really.

So much work on your end and thank you ... Presidents Day and markets slow but excited now about tomorrow. Thanks a million
  • #105
  • Feb 18, 2019 8:36am Feb 18, 2019 8:36am
Quoting kieranmurphy
Firefox what a brilliant improvement(s) and I am going through the charts now and its awesome ... really. So much work on your end and thank you ... Presidents Day and markets slow but excited now about tomorrow. Thanks a million

Thanks very much.

I knew when I was testing it over the weekend and also in real-time this morning that the Discretionary Logic was working fantastic. Very pleased with it. - Picking up those patterns that intuitively don't follow the strict rules but are nonetheless important to identify as potential setups.

Plus the new volatility setting adjusts automatically for each time frame for the minimum move it is looking for - cuts out the minuscule moves on higher time frames we aren't interested in.

Of course everyone can change the parms to pick up what they want as full control and power is given to the trader.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #106
  • Feb 18, 2019 8:57am Feb 18, 2019 8:57am
Quoting Freefox
{quote} Thanks very much. I knew when I was testing it over the weekend and also in real-time this morning that the Discretionary Logic was working fantastic. Very pleased with it. - Picking up those patterns that intuitively don't follow the strict rules but are nonetheless important to identify as potential setups. Plus the new volatility setting adjusts automatically for each time frame for the minimum move it is looking for - cuts out the minuscule moves on higher time frames we aren't interested in. Of course everyone...
Hey FreeFox,

Did you find that certain parameters or certain timeframes were more likely to be more profitable than others? Trading manually with FXcyborg's method on 1hr+ TF seems to be pretty good for me, but I would be interested in hearing your recommendations for day trading to get in and get out without holding the position overnight. Thanks again for your work regarding this system.
Green pips to all
  • #107
  • Feb 18, 2019 10:15am Feb 18, 2019 10:15am
by no means is this supposed to muddy the water of the indicator.
However, I have been thinking
My problem with an indicator is that it is just that, an indication of a possible setup. With a discretionary set up, there is always going to be someone who takes every trade that the indicator shows, but has no understanding that the market is going to run through that level. On the occasion that the signal appears and the trader makes a decent trade, the jubilation is quickly destroyed when all of the next signals are taken and the account diminished.

However, now that I have been using this indicator and testing it across different time frames, it is making it very quick to spot certain levels. Levels of some importance because of the nature of the setup.

The basis of the methodology is to show a level where price rejected. At best it shows where a turn in the market happened. Else it shows where there was another certain type of trading happened. Maybe a pause, maybe an accumulation or maybe distribution.

You can see the pauses in a nice long impulsive move.

The accumulation and distribution are those arrows which cluster together, as traders fight for a price. The accumulation and distribution phase is one which will kill an account if you take every trade based on this indicator. As you get chopped up.

So the exercise I did this morning was to go to the H1 chart and at every spot where an arrow appeared I placed a horizontal line at what would have been the trigger/entry. I only used the arrows from the start of the month.
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-02-18_1559_H1.png Size: 115 KB


Then dropping down to an m15 or m5 chart I just waited for the price to revisit the most obvious area on my chart and as soon as the red arrows started appearing I took the short.
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-02-18_1602_m15.png Size: 85 KB


My conclusion is that this methodology is great for drawing real support and resistance zones. Which may be far more useful than the original intended use, especially for those who are not grasping the original methodology. Drawing these zones on your chart will at least give you some context of a higher time frame, when scalping on the lower time frames.
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-02-18_1605_SR.png Size: 67 KB


GLA
  • #108
  • Feb 18, 2019 12:45pm Feb 18, 2019 12:45pm
Just to add my 2-bits worth:
Frefox, THANK YOU! V10 is a huge improvement.
Thanks for your work, thanks for sharing!
  • #109
  • Feb 18, 2019 1:31pm Feb 18, 2019 1:31pm
Quoting Freefox
{quote} 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...

Would of been nice if you took the respect to ask me first, had you of done, the indicator would of been perfect the first time around... c'est la vie - it's going to be a hard up hill battle without my help on this.
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #110
  • Feb 18, 2019 1:32pm Feb 18, 2019 1:32pm
Quoting NevFX
by no means is this supposed to muddy the water of the indicator. However, I have been thinking My problem with an indicator is that it is just that, an indication of a possible setup. With a discretionary set up, there is always going to be someone who takes every trade that the indicator shows, but has no understanding that the market is going to run through that level. On the occasion that the signal appears and the trader makes a decent trade, the jubilation is quickly destroyed when all of the next signals are taken and the account...
a majority of those setups are wrong.
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #111
  • Feb 18, 2019 1:39pm Feb 18, 2019 1:39pm
Quoting FXCyborg
{quote} a majority of those setups are wrong.
Yes they are.
It only shows the 3 candle pattern.
The indicator doesn't allow for a consolidation zone or a trend bias.
I don't think the indicator is a self contained Trading System. Just a guide to the naked eye to look at what might be happening around the time the 3 candle pattern emerges
  • #112
  • Feb 18, 2019 2:15pm Feb 18, 2019 2:15pm
Quoting NevFX
{quote} Yes they are. It only shows the 3 candle pattern. The indicator doesn't allow for a consolidation zone or a trend bias. I don't think the indicator is a self contained Trading System. Just a guide to the naked eye to look at what might be happening around the time the 3 candle pattern emerges
Then it's pointless in creating something that doesn't follow my method.
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #113
  • Feb 18, 2019 2:20pm Feb 18, 2019 2:20pm
Quoting FXCyborg
{quote} Then it's pointless in creating something that doesn't follow my method.
that would be pointless to you.
Others seem happy to have the opportunity to use it to scan the charts.
  • #114
  • Feb 18, 2019 3:03pm Feb 18, 2019 3:03pm
Quoting FXCyborg
{quote} isn't needed.
You have issue with the indicator (you have made that very plain for all to see) and keep making very vague unsubstantiated assertions that it doesn't work. But facts speak louder than these subjective claims you keep making with nothing to back them up. And I'll come back to facts and specifics later in my reply as to why a volatility option is a very useful addition. In the end the indicator clearly does work, no question about it - and those that are using it are not going to be put off by your comments when they see ample evidence to to the contrary.

But your statement that a volatility option 'isn't needed' doesn't hold up to any sort of close scrutiny. You no doubt intuitively do something similar without even thinking about it. Let me expand and explain by means of an example with factual information in rather than mere subjective unsupported claims.

Let's take for demonstration purposes the H4 chart for GBPJPY which is highly volatile and has an average H4 bar-range or around 59 pips (based on last 200 bars of history). If we have 2 bulls bars or a mere few pips each. Lets say each body is 2 pips each, and then an engulfing bar of say 3 pips. The movement in this pattern is minuscule and even though it meets the criteria for a 3-bar pattern it can be sensibly be ignored as there is no significant movement on that time frame.

A 3 pip engulfing pattern is of zero significance on a GBPJPY H4 time-frame when we have a 59 pip range. Take a look at the attached image which shows such a pattern I am describing. The 3 bars are all virtually doji bars - in fact you can hardly see that movement on the image on bars 1 and two as it is that small, but there is up movement. So having a volatility parameter can filter out these totally insignificant patterns on any time-frame, hence why it has been added. But of course, like all the settings if you want to see them turn it off. Simple.
Attached Image (click to enlarge)
Click to Enlarge Name: doji.jpg Size: 32 KB
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #115
  • Feb 18, 2019 5:20pm Feb 18, 2019 5:20pm
Quoting NevFX
{quote} that would be pointless to you. Others seem happy to have the opportunity to use it to scan the charts.
What? Where is your logic at??? ... NO, its pointless TO EVERYONE actually.. If you're going to put my name on this and point ppl to my thread, then do the indicator properly... simple! Don't mislead others when my name is attached to it.

Do it right, or dont do it at all and stop wasting everyone's time here.
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #116
  • Feb 18, 2019 5:24pm Feb 18, 2019 5:24pm
Quoting Freefox
{quote} You have issue with the indicator (you have made that very plain for all to see) and keep making very vague unsubstantiated assertions that it doesn't work. But facts speak louder than these subjective claims you keep making with nothing to back them up. And I'll come back to facts and specifics later in my reply as to why a volatility option is a very useful addition. In the end the indicator clearly does work, no question about it - and those that are using it are not going to be put off by your comments when they see ample evidence to...
I have an issue for several reasons; respectfully...

1. you never asked me
2. you're misleading others
3. you dont know what you're doing when it comes to my method

you and like many other programmers, get this stuff all wrong, you're all smart guys, but you are all over analytical with this stuff - and one wonders why your stuff doesn't work first time around, its because you dont know what you're really doing...

your intentions may of been good, et al, but you're really wasting people's time here. I could of told you exactly how this method would work in a MQL4 format. I've worked with MANY coders in the 30 years I've been online. And you would of hand a working version in two sittings. But you chose the opposite.
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #117
  • Feb 18, 2019 8:15pm Feb 18, 2019 8:15pm
Quoting FXCyborg
{quote} I have an issue for several reasons; respectfully... 1. you never asked me 2. you're misleading others 3. you dont know what you're doing when it comes to my method you and like many other programmers, get this stuff all wrong, you're all smart guys, but you are all over analytical with this stuff - and one wonders why your stuff doesn't work first time around, its because you dont know what you're really doing... your intentions may of been good, et al, but you're really wasting people's time here. I could of told you exactly...
I assumed Freefox had contacted you about coding an indicator for your method, but I assumed wrong. The two of you are here to help us learn how to trade this High Level Accuracy Method With Little To NO Draw-down. I am sure that all members here appreciate the both of you for taking time out of your day to post here for our benefit. So, please, please, will the both of you please get together, work together in creating an indicator that meets your standards? Can't we all just get along, work together and make some pips.

kind regards,
davek
  • #119
  • Feb 19, 2019 1:39am Feb 19, 2019 1:39am
Every thread the FXCyborg goes on ends up like this.
Now we can either bait the bear and poke him or quietly go about our business.
I'm going to go about my business and lurk in this thread.
Thank you for the indicator and good luck.
  • #120
  • Feb 19, 2019 2:18am Feb 19, 2019 2:18am
Quoting FXCyborg
{quote} What? Where is your logic at??? ... NO, its pointless TO EVERYONE actually.. If you're going to put my name on this and point ppl to my thread, then do the indicator properly... simple! Don't mislead others when my name is attached to it. Do it right, or dont do it at all and stop wasting everyone's time here.
Just repeating the same old message with no substance behind it. I have always replied with facts and charts to back up my claims about the indicator and IT MOST CERTAINLY WORKS contrary to your repeated unsubstantiated claims that it does not. Others who are using it will be the judge and the countless who have expressed their approval and thanked me for providing it already

And just for further demonstration and proof (though I have given previously plenty), below is your trade setup from overnight posted on your own thread. And below it the indicator placed on the same chart. Viola! Picks it up exactly - just another demonstration that it picks up what you trade from.

PS. Even though the bodys of bars 1 and 2 are no way near comparable (only about a third of the size), so doesn't follow your ideal setup you are looking for yet using the inbuilt discretionary logic it still manages to identify those trades that you intuitively pick regardless of rigidly conforming to 'ideal setup criteria'. Once identified, over to the trader to then evaluate context and see if it should be traded.


Your example trade:

Attached Image (click to enlarge)
Click to Enlarge Name: exam01a.png Size: 111 KB


.. and identified by the INDICATOR AUTOMATICALLY

Attached Image (click to enlarge)
Click to Enlarge Name: exam01.jpg Size: 197 KB
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
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