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Quad Candle System

  • #3,981
  • Jan 22, 2020 7:30am Jan 22, 2020 7:30am
Quoting bubander
One more thing, related to indicator of the system: Errors occurred, zero divide. {image}
I'll fix that in the next update.

Its related to delayed data feed such as when a range shows as zero.

A line of code will fix it.

In the meantime simply reload the indicator again and you'll be good to go.

Masterrmind........
Master your Mind then Master your Trades
  • #3,982
  • Jan 22, 2020 7:35am Jan 22, 2020 7:35am
Quoting septell
Will Master Octive Indicator for MT4 expire after Mar. 20? How can I use this indicator after that?
Yes it will.

I will upload a newer version based on satisfactory thread participation.

I may also extend expiries significantly and send to those traders who have participated here whilst poor or non participating traders will have to make do with much much shorter expiry dates such as 1 month compared to 12 months.

Masterrmind........
Master your Mind then Master your Trades
  • #3,983
  • Jan 22, 2020 7:38am Jan 22, 2020 7:38am
Quoting bubander
{quote} It appears that the author will upload the new version of indicator here after expiration date (conditionally - until there is interest in the thread).
Correct !

Masterrmind........
Master your Mind then Master your Trades
  • #3,984
  • Jan 23, 2020 1:53am Jan 23, 2020 1:53am
Setup is (almost) forming on EURCHF, will wait for daily candle to complete for entering long.

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  • #3,985
  • Jan 23, 2020 2:01am Jan 23, 2020 2:01am
Quoting bubander
Setup is (almost) forming on EURCHF, will wait for daily candle to complete for entering long. {image}
Good to see you exercising patience.

Masterrmind........
Master your Mind then Master your Trades
  • #3,986
  • Jan 23, 2020 10:34am Jan 23, 2020 10:34am
Hi Masterrmind....
I decided to place a bearish trade USDJPY Love your system here!


Cheers,
Jeff
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Happily Married to MY College Sweet Heart!
  • #3,987
  • Jan 24, 2020 1:12am Jan 24, 2020 1:12am
Attractive setup for NZDCHF is forming. Kiwi is gaining across the board, it is time to enter a long trade with very nice R/R
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  • #3,988
  • Jan 24, 2020 3:34pm Jan 24, 2020 3:34pm
Quoting Masterrmind
QUAD CANDLE SYSTEM METHODOLOGY The QUAD CANDLE SYSTEM (QCS) is designed for trading the higher time frames only ! The QCS system is based around 4 by D1 candle formations with respect to the following: a) 2 bullish candles followed by 2 bearish candles looking to go short the market or b) 2 bearish candles followed by 2 bullish candles looking to go long the market ENTRY (Basic criteria) Enter short after the Short Quad Candle Pattern (SQCP) has completed and price is currently trading in the Upper Octive extreme zone....
Hi Masterrmind,

this insanely simple 4 candles pattern is so powerful?

Amazing!
K.
  • #3,989
  • Jan 24, 2020 7:43pm Jan 24, 2020 7:43pm
Quoting Kruspe
{quote} Hi Masterrmind, this insanely simple 4 candles pattern is so powerful? Amazing! K.
It certainly is 'powerful'.

Ofcourse, in the hands of the untrained it can be a different matter altogether.

The pattern is just 1 part of the puzzle, then you need to look at the candles that make the pattern and where that pattern forms in relation to chart structure and then you need a 'good' filtering system and excellent risk control.

Then its a walk in the park so to speak !

I look forward to your charts in due course and the potential setups you are considering.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,990
  • Jan 27, 2020 2:11pm Jan 27, 2020 2:11pm
Thank you for your replay Masterrming!

How about these pairs:

 

  1. GBPJPY
  2. GBPUSD
  3. GBPCHF


The pattern has already formed one D1 candle ago

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  • #3,991
  • Jan 28, 2020 2:47am Jan 28, 2020 2:47am
Quoting Kruspe
Thank you for your replay Masterrming! How about these pairs: GBPJPY GBPUSD GBPCHF The pattern has already formed one D1 candle ago {image} {image} {image}
All 3 symbols you posted show a Quad Short pattern.

The bias for a Quad entry is therefore to the short side.

However, look at where this pattern unfolded within the Master Octive Trading Frame; its different for the different symbols is it not?

The GBPCHF symbol shows a Quad Short within the Lower Extreme Zone so confluence is therefore lacking, suggesting perhaps additional risk in this setup.

You could attempt to short this pair with a target just above the OPL_Base level after applying an harmonic 1 to 1 projection to the downside so you know where price 'might go too'.

Alternatively, if you were biased to the long side (as I currently am) then you could wait a few days and monitor PA within the Lower Extreme Zone and then consider taking a long entry (at relatively low risk).

I would be interested to see your setup and why you chose it.

Nice posts.

ps. do not forget to consider the impact on markets (if any) that the 'coronavirus' might have because when the market sees increased risk there will be a significant flow of money into the safe haven assets.

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #3,992
  • Jan 29, 2020 2:59am Jan 29, 2020 2:59am
Which Symbol to trade ?
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Masterrmind.............
Master your Mind then Master your Trades
  • #3,993
  • Jan 29, 2020 8:17am Jan 29, 2020 8:17am
USDJPY [QCS Master 10K]

Cycle 3

Long setup now in action.

Lots @ 0.04 (market), 0.06 (BuyStop), 0.08 (BuyStop) and 0.11 (BuyStop).

Additional information via myfxbook link in Post 1.

Masterrmind...............
Master your Mind then Master your Trades
  • #3,994
  • Jan 29, 2020 8:25am Jan 29, 2020 8:25am
I will start to discuss various aspects of trade management very very soon.

The 10K account will be a good example of this considering that 3 cycles of trades are now in place.

I may also update Post 1 with additional information pertaining to Trade Management approach.

Traders will soon see how important a reliable Trade Management EA is in adjusting stops across multiple entries.

The greater the number of cycles the more complex becomes the system.

A display panel showing floating PnL, lots in action, lots pending and available lots for extra trades would be useful would it not.

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #3,995
  • Jan 29, 2020 2:15pm Jan 29, 2020 2:15pm
Quoting Masterrmind
Which Symbol to trade ? {image} Masterrmind.............
Crosses with Pound, Brexit is two days away now. Long GBPCHF, GBPJPY
  • #3,996
  • Jan 29, 2020 3:51pm Jan 29, 2020 3:51pm
Quoting Masterrmind
{quote} All 3 symbols you posted show a Quad Short pattern. The bias for a Quad entry is therefore to the short side. However, look at where this pattern unfolded within the Master Octive Trading Frame; its different for the different symbols is it not? The GBPCHF symbol shows a Quad Short within the Lower Extreme Zone so confluence is therefore lacking, suggesting perhaps additional risk in this setup. You could attempt to short this pair with a target just above the OPL_Base level after applying an harmonic 1 to 1 projection to the downside so...
Hi Masterrmind,

thank you very much for your reply. I realize that entry in the extreme zones would be definitely better. I'm glad that you shared your opinion.

Keep up the good work!
  • #3,997
  • Feb 1, 2020 1:14am Feb 1, 2020 1:14am
January 2020 Account Updates

The following will be a brief summary of the current performance of the 2 real trading accounts.

Quad Candle System Master 1K
MT4

3 long entries at market were attempted on a less than favorable symbol, namely CADCHF but at lower relative risk.

Month of January 2020
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Although there have been 3 straight losses on this symbol (CADCHF) I will consider another long entry at market at a later time, due in part to price having dropped into longer term support zone (early Aug 2019).
Losses across the 3 losing trades was ~ -1.08% so in keeping with lower applied risk on a less than preferred symbol (CAD pairs can be nasty !).

All Time
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QCS Master 10K
MT5

Month of January 2020

One Long entry on USDJPY resulted in a loss ~ -0.28%
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All Time
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Summary Points:

Certainly not the best start to a new year putting in losses for the month of January on both accounts.

However, the losses were minimal with minor impact on account equity.

The 1K account (1 cycle active) may have adjustments made to the current pending orders on the CADCHF symbol.

The 10K account (3 cycles active) may have adjustments made to the current pending orders on the USDJPY symbol.

Additional information will be posted to the thread at the appropriate time.

Lets see how the month of February unfolds.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,998
  • Feb 1, 2020 3:11pm Feb 1, 2020 3:11pm
Hi Masterrmind, I like you quad candle system and will back test this to check it out.

Have you tried any other time frames with this strategy?

Do you use this on all pairs ?

What is a good way to determine a stop loss?

How do you filter out some bad trades?
  • #3,999
  • Feb 1, 2020 5:09pm Feb 1, 2020 5:09pm
Quoting akamrp
Hi Masterrmind, I like you quad candle system and will back test this to check it out. Have you tried any other time frames with this strategy? Do you use this on all pairs ? What is a good way to determine a stop loss? How do you filter out some bad trades?
Many of your questions can be answered by reading Post 1.

As with any system a good filter is usually required.

I use the Master Octive Trading Frame as a filtering system to enter Quad Short patterns occurring in the Upper Extreme Zone or Quad Long patterns in the Lower Extreme Zone.

Quad pattern entries can ofcourse be taken at anytime they occur at the discretion of the trader with thoughtout risk approach.

Regarding other TFs yes they can be traded.

I have locked the indicator to the D1 TF so traders focus on these charts as they are typically easier to trade.

Later I may use H1, H4 and W1 setups on the QCS Master 10K trading account but unlikely on the 1K account.

The system can be used on any symbol but a study should be conducted on symbols of choice to determine suitability.

Ideally a symbol exhibiting deep harmonic motion with long trending legs is the gem however, symbols showing this type of behavior recently may not continue to show this into the future meaning a trader needs to have a well thoughtout plan in place.

Postive swap strategies are very very useful in times when the market is ranging until the trend continues if it does.

Stops are applied initially as a function of the Octive Gap.

Octive Gap can be in the range 1 to 2.

On the D1 TF of the common 28 pairs the Octive Gap is 61 pips or 122 pips or on occasion 244 pips.

If your symbol shows an Octive Gap of 61 pips then the minimum SL can be 1 OctiveGap 61 pips from the entry price up to a maximum of 2 OctiveGaps or 122 pips.

Start with the Octive Gap then formulate your SL position.

It is good practise to have a stop level that clears the Quad Cluster. The Quad Cluster includes the Quad Pattern and any nearby bars meaning the SL will clear support or resistance levels as the case may be.

If a Quad occurs but a 2 Octive Gap SL still does not clear the SnR chart structure then either pass on the setup or apply a reduced risk on the setup.

Exits occur at stop out, minimum 1RR target, reverse Quad pattern (if in profit) or retested SnR chart structure or some high impact news or economic or political or biological or other such event.

Masterrmind........
Master your Mind then Master your Trades
  • #4,000
  • Feb 1, 2020 6:44pm Feb 1, 2020 6:44pm
Quoting Masterrmind
{quote} Many of your questions can be answered by reading Post 1. As with any system a good filter is usually required. I use the Master Octive Trading Frame as a filtering system to enter Quad Short patterns occurring in the Upper Extreme Zone or Quad Long patterns in the Lower Extreme Zone. Quad pattern entries can ofcourse be taken at anytime they occur at the discretion of the trader with thoughtout risk approach. Regarding other TFs yes they can be traded. I have locked the indicator to the D1 TF so traders focus on these charts as they are...

Thanks for a detailed answer, I will have a look at this. I am still new to forex, I have only started about 6 months ago. I will also backtest this on the 1 hour chart
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