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  • #21
  • Apr 15, 2019 3:41pm Apr 15, 2019 3:41pm
I also made a mistake and compare close with prev close of candle. In the new version close is compared with prev. candle high/low. Also add param "Show Arrow" to set if arrows should be hidden or shown. Wolf300, check if now is ok and let me know.
Attached File(s)
File Type: ex4 consecutive candles 1_02.ex4   13 KB | 487 downloads
File Type: mq4 consecutive candles 1_02.mq4   6 KB | 582 downloads
  • #22
  • Apr 15, 2019 3:59pm Apr 15, 2019 3:59pm
Quoting IceRice
I also made a mistake and compare close with prev close of candle. In the new version close is compared with prev. candle high/low. Also add param "Show Arrow" to set if arrows should be hidden or shown. Wolf300, check if now is ok and let me know. {file} {file}
Hey IceRice,

glad we are all human making some mistakes.

Just checked the new version, looks realy, realy good.

Good fun to develop such a nice priceaction system. This is gonna be profitable.

Let`s keep on working on that.

Thanks for your effort and coding !!
  • #23
  • Edited 4:27pm Apr 15, 2019 4:07pm | Edited 4:27pm
Here is the same pic like the one with arrows and dots drawn by hand.
New version of consecutive candles 1 02 drawing nicely dots and arrows.
Yellow arrows are those on the exact turning points (by hand)

I think you coded arrows to show change of direction when first dot shows criteria for the change, right?

Attached Image (click to enlarge)
Click to Enlarge Name: con illustration 3.png Size: 82 KB
  • #24
  • Edited 5:12pm Apr 15, 2019 4:52pm | Edited 5:12pm
Ok, we got it, indi works fine. Bulls and bears standing there with their pants down.

Now we can move on to some common "problems" like the smaller the timeframe, the more noise we see and more wrong signals of course.

Please join in with your ideas to solve some common problems, that would be nice.

Here is an example of the same situation in a M15 chart and a M30 chart. Smaller tf shows a beatiful candlestick for a change (long wick, small body)
and an arrow and dot to the downside. It realy looks like the bears are taking over and price will go down.

Check out the ellipse. Just a little bit of "noise" in the market. Then check out the M30 and...oops, no change yet.

Solution could be: Only trade M30, indi with mtf function, other supporting tools to avoid such situations. No trendline break, no touch of a MA. What do you think?

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

Attached Image (click to enlarge)
Click to Enlarge Name: con example 2.png Size: 27 KB
  • #25
  • Apr 15, 2019 5:27pm Apr 15, 2019 5:27pm
WOW ...

Thanks a lot Icerice and wolf ...

Stumbled upon something which is looking good ....

I suppose If I find anything interesting regards price action ... will surely let you know ...
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #26
  • Apr 15, 2019 5:58pm Apr 15, 2019 5:58pm
Quoting rpasupathy
WOW ... Thanks a lot Icerice and wolf ... Stumbled upon something which is looking good .... I suppose If I find anything interesting regards price action ... will surely let you know ...
Yes, consecutive candles indi shows priceaction, momentum and exits too, but from at least 50 people visiting your thread after last version of IceRice`s
indi, only 5 people got the indi downloaded.

Seems people do not see how bulls and bears can be beaten. Everybody is looking for the foolproof holy grail which doesn´t exist.

But let`s work out how we can make the most out of it.
  • #27
  • Apr 15, 2019 7:35pm Apr 15, 2019 7:35pm
You guys have done a great job here.
I have been watching with real interest, congrats on what you have done so far...keep up the good work. I feel this could be something great.

I would suggest that MTF is the way to go, nice example above Wolf300

Chris
  • #28
  • Apr 15, 2019 11:44pm Apr 15, 2019 11:44pm
I don't have anything to contribute. I'm paying attention.

I want to thank all of you making efforts and spent time.

FF is the best place to learn things. A lot of nice and generous people.

Best Regards,
Lin
  • #29
  • Edited 3:00am Apr 16, 2019 2:38am | Edited 3:00am
Thank you cfudge, thank you Lin4X

Ok, as IceRice, the coder of this nice priceaction, no lagging, no repainting, bulls and bears pants down in real time - indi (did I forget something?)

... is planing to make a Robot out of this, we should put together a few things further.

Here is a simular situation like yesterday, GBPUSD M15. Check out the ellipse please.

As version one of the indi is coded to show higher highs and higher closes than previos closes, we got a huge portion of priceaction already.
Version two is the original idea showing higher highs and higher closes than previous candles highs, we got the rest of momentum in realtime.

So I put them together, turned off the arrows of version one showing only the dots in a different color. Then on top of it, the original version two
with blue arrows and dots, all red for the downside.

"Alligator" a standard indi from Bill Williams, a genious of priceaction supported by a few indis. Alligator is set to 50, 21, 8 , all three 0 shift)

Last a interesting zigzag (can find it free in mt4 market tab) which draws mtf support and resistance levels instead of a zigzag line (I know, all zigzag have to repaint, as PA pushes them to the real turning point, but it is a start), you have to refresh it from time to time.

Have a look.

Attached Image (click to enlarge)
Click to Enlarge Name: con example 3.png Size: 92 KB


As you can see, we do have some support, to check the fake turning point in the ellipse.

MA 21 is above 50 and MA 8 is above 21 and all is sloping up, showing some momentum.

The red candle does not even touch MA 8 which pro traders call the "trigger line"

I know, price turns even no MA is touched as MA are the most lagging indis.

A click on M30 to check this situation when it occurs is the best help I guess.
  • #30
  • Apr 16, 2019 4:05am Apr 16, 2019 4:05am
Quoting wolf300
Thank you cfudge, thank you Lin4X Ok, as IceRice, the coder of this nice priceaction, no lagging, no repainting, bulls and bears pants down in real time - indi (did I forget something?) ... is planing to make a Robot out of this, we should put together a few things further. Here is a simular situation like yesterday, GBPUSD M15. Check out the ellipse please. As version one of the indi is coded to show higher highs and higher closes than previos closes, we got a huge portion of priceaction already. Version two is the original...
Filters do not work. S/R is not real. Don't use it. KISS.
  • #31
  • Apr 16, 2019 4:19am Apr 16, 2019 4:19am
Quoting Anusragger
{quote} Filters do not work. S/R is not real. Don't use it. KISS.
I know kiss is most of the time best, but some filters will support at certain situations.

Do you mean, just hit it, when priceaction (alerts tell so) and just go ?
  • #32
  • Apr 16, 2019 4:33am Apr 16, 2019 4:33am
Quote
Ok, we got it, indi works fine. Bulls and bears standing there with their pants down.

Nice to hear that we have developed final version of indicator and can do next step.

Quote
I think you coded arrows to show change of direction when first dot shows criteria for the change, right?

Yes, this is for visualization of turning points.

Quote
Ok, as IceRice, the coder of this nice priceaction, no lagging, no repainting, bulls and bears pants down in real time - indi (did I forget something?)

... is planing to make a Robot out of this, we should put together a few things further.

Let's all try to write an EA specification for our indicator. Any idea is welcome.
I think the idea of wolf300 with MAs is a good direction.

I will try to prepare the first version of EA till the end of this week.
  • #33
  • Apr 16, 2019 4:47am Apr 16, 2019 4:47am
Quoting IceRice
{quote} Nice to hear that we have developed final version of indicator and can do next step. {quote} Yes, this is for visualization of turning points. {quote} Let's all try to write an EA specification for our indicator. Any idea is welcome. I think the idea of wolf300 with MAs is a good direction. I will try to prepare the first version of EA till the end of this week.
Hi IceRice,

looking forward to the next project.

About MA in EA: Question is which one is best, the "triggerline" EMA 8 to catch faster the turns in price or a kombination of two or three MA`s ??

Did you think about making the versions 01 and 02 working in multi timeframe mode ? (That would be awesome) This could be a huge help trading the bulls and bears by hand.

Could be the core of an EA too. Like: If creteria match in M15 AND M30, then go make some money....

Or: If creteria of M15 "joins" those of M30, go. Like turning back into trenddirection for following the trend and/or confirming a turningpoint in trend.

Thanks again for your great job, well done !
  • #34
  • Apr 16, 2019 7:03am Apr 16, 2019 7:03am
Wolf300 and IceRice,
Please have a look at this EA i got from Arthur's web page. It shares your vision. I want you to study it in forward test and backtest. Its pips profiting efficiency is different from many others - you can test this with 1 pip TP and compare result with other EAs using same 1 pip TP.

It follows your idealogy in taking trades, aithough it uses HA smoothed indicator,....... You will learn one or two things from the EA.
Attached File(s)
File Type: ex4 PZ_HeikenAshiEA.ex4   63 KB | 452 downloads
  • #35
  • Edited 8:26am Apr 16, 2019 7:44am | Edited 8:26am
Ok, first trade with consec candles .

M15 confirmed by M30 alert. Went to M30 and waited till half hour closed (so functions are perfect, no lagging, no repainting)

A bit late to get in because of strong support in the market, but just to see how it works.

Attached Image (click to enlarge)
Click to Enlarge Name: con 1 trade.png Size: 71 KB


Attached Image (click to enlarge)
Click to Enlarge Name: con 1 trade m30.png Size: 81 KB
  • #36
  • Apr 16, 2019 7:54am Apr 16, 2019 7:54am
Ok, first money is made by strong priceaction con can indi.

Attached Image (click to enlarge)
Click to Enlarge Name: con 1 trade 1 win.png Size: 69 KB
  • #37
  • Apr 16, 2019 8:31am Apr 16, 2019 8:31am
Just a new perspective :

Possible to make an indicator which shows arrow when we have these conditions as shown on image below.

CONDITION : Whole candle body fits inside the previous candle wick.

Also add an alert as soon as condition done and candle closed.

Thanks
Attached Images
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #38
  • Apr 16, 2019 8:36am Apr 16, 2019 8:36am
Quoting rpasupathy
Just a new perspective : Possible to make an indicator which shows arrow when we have these conditions as shown on image below. CONDITION : Whole candle body fits inside the previous candle wick. Also add an alert as soon as condition done and candle closed. Thanks {image} {image}
Hi rpasupathy ,

is this pattern a priceaction-supporting turningpoint, or is it more about continution of the trend ?
  • #39
  • Apr 16, 2019 8:44am Apr 16, 2019 8:44am
Quoting rpasupathy
Just a new perspective : Possible to make an indicator which shows arrow when we have these conditions as shown on image below. CONDITION : Whole candle body fits inside the previous candle wick. Also add an alert as soon as condition done and candle closed. Thanks {image} {image}
I think you get more turning points than continuations with this pattern
  • #40
  • Apr 16, 2019 8:55am Apr 16, 2019 8:55am
First trade closed at the zigzag supportandresistance line. Fat winner.

But check this out. M30, see the "falling" arrows pointing back into trend-direction ? Nice priceaction, right "? Like " back to the future "....back to the trend
plays best into cards of "consecutive candles indi ".

What is almost pervert, is that the old (very old trader) was absolutely right, when he told me SMA 50 (the "real" ma because of "simple" means showing realy the last 50 bars).
He sait, that price sooo very often "respects" SMA 50, because marketmaker use them since decates, so...

White is the standard sma 50 set to close, so that you got it in the actual TF and blue/red are mtf sma 50 set to simple and price high, the other one price low.

Look at that...how often price pokes them...


Attached Image (click to enlarge)
Click to Enlarge Name: con check this out.png Size: 65 KB
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