{quote} I think you get more turning points than continuations with this pattern
Is that pattern solid when it comes to turning points, or is it rare to trade ?
- #44
- Apr 16, 2019 9:08am Apr 16, 2019 9:08am
- Joined Apr 2013 | Status: Trader | 1,577 Posts
{quote} Hi mister Canada
- #46
- Apr 16, 2019 9:13am Apr 16, 2019 9:13am
- Joined Apr 2013 | Status: Trader | 1,577 Posts
{quote} I looked at your charts (quickly) and spotted more dead ends than runs
My comments are only about this, not the indicator.
Chris
- #48
- Edited 9:48am Apr 16, 2019 9:34am | Edited 9:48am
Hi IceRice,
here is a thing you could use pretty good in your EA.
It is about Post nr 7, one of many ways to trade this indicator.
Grid trading is priceaction too and should be easy to code in the EA (I hope, lol)
Ok, this is a 12 pip Grid (why 12 ? Price often likes 25 pip moves and my old grid indi can`t show 12.5 pip, so I set it to 12)
Since we are in a downtrend with "falling" arrows, (Blue AND Red arrows falling, see?) I set the sma 50 to price High, to "engulf" the price, so to speak.
So when pricaction triggers an alert, 12 pips should be possible, check it out.
Oh, for those who did not read the complete thread: Aqua and Gold dots are version 01 (higher highs, higher closes)
And Blue and Red dots and arrows are version 02 (original idea) (higher highs and higher closes than last high)
Just put 02 above 01.
here is a thing you could use pretty good in your EA.
It is about Post nr 7, one of many ways to trade this indicator.
Grid trading is priceaction too and should be easy to code in the EA (I hope, lol)
Ok, this is a 12 pip Grid (why 12 ? Price often likes 25 pip moves and my old grid indi can`t show 12.5 pip, so I set it to 12)
Since we are in a downtrend with "falling" arrows, (Blue AND Red arrows falling, see?) I set the sma 50 to price High, to "engulf" the price, so to speak.
So when pricaction triggers an alert, 12 pips should be possible, check it out.
Oh, for those who did not read the complete thread: Aqua and Gold dots are version 01 (higher highs, higher closes)
And Blue and Red dots and arrows are version 02 (original idea) (higher highs and higher closes than last high)
Just put 02 above 01.
Remember the big missed trades and what I said about sma 50 in post 40 ???
Check this out. The fat red MA coming down and got hit several times by price is SMA H4 set to close.
Damned, if I even put that thing on earlier.
Definitely a possible EA brick.
White is SMA 50 set to close standard for the actual timeframe.
Check this out. The fat red MA coming down and got hit several times by price is SMA H4 set to close.
Damned, if I even put that thing on earlier.
Definitely a possible EA brick.
White is SMA 50 set to close standard for the actual timeframe.
{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.
how are you do`in...
could the following be a good rule for your EA ?
A BUY trade will only trigger, if the last buy DOT AND ARROW was lower than the actual situation where priceaction criterias match.
A SELL trade will only trigger, if the last sell DOT AND ARROW was higher than the actual situation where priceaction criterias match.
That way only "back into trend" would cause trades. Like post 48.
What are you coding for the EA right now and what do you think about this idea?
{quote} Hi wolf300, Could you describe once again your priceaction criterias for buy & sell?
the pic should make it clear in addition to post 51.
Same pricechart we were talking about (avoiding wrong signal just because of one candle)
That way (without any other filter assumed) your EA will trade only confirmed trends after turning points.
It will follow the trend until the end (last one will be a loser of course because it runs into the turningpoints).
But if you put a grid into the robot, say 12.5 or 25 pip (flexible) trades should work out, because we have the two most important, of the famous FIVE preconditions (qualifications) for a successful trade.
TREND and MOMENTUM (momentum is core of our indi)
Disadvantage: Turningpoints will be ignored and in choppy market there will be wrong signals (just to make it clear)
- #58
- Apr 17, 2019 8:48am Apr 17, 2019 8:48am
- Joined Apr 2013 | Status: Trader | 1,577 Posts
Please check out the next extreme example for a downtrend. EA checks RED only for "last dot and arrow higher" Watch the yellow ellipse as reason for first EA valid trade. Then consecutive candles indicator just follows PA after second red dot and arrow. {image}
Chris
{quote} If you can get the EA to trade like this...then the world will surely end.
you are correct, that would blow up like crazy...
I am not a coder, but I am pretty sure IceRice can bring those rules into his EA.
Look what he coded so fast, and so clean. No lagging, no repaint, just pure PA when it happens.
I am very curious what he will put in his EA, MA`s or "falling and rising" dots and arrows, or maybe both.
Or the confirmation of a triggered trade by MTF signals, we will see.
But anyway, I am trading consecutive candles indi by hand already and it is good fun.