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need simple indicator for Daily green/red candle 2 replies

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Daily green/red candle

  • #4,321
  • Feb 26, 2020 1:05pm Feb 26, 2020 1:05pm
Hi, What pairs are you using this strategy on? I am going to have a look at trying out this stratgey
  • #4,322
  • Feb 29, 2020 12:51pm Feb 29, 2020 12:51pm
Quoting akamrp
Hi, What pairs are you using this strategy on? I am going to have a look at trying out this stratgey
hi
main pairs with smallest spread
  • #4,323
  • Mar 3, 2020 4:38am Mar 3, 2020 4:38am
Quoting dimdel
{quote} hi main pairs with smallest spread

dear dimdel , 1st thank you so much for the sharing of you trading method, so dear as per your method if we are consider the 4 h time frame do you put pending order based on the recently closed 4 h candle to the same direction ( ex. if it's a sell candle you put sell order / or if it's bull candle u put a buy order ) is correct ?

when you free time please reply..

regards
  • #4,324
  • Mar 3, 2020 8:48am Mar 3, 2020 8:48am
Quoting sam1967
{quote} dear dimdel , 1st thank you so much for the sharing of you trading method, so dear as per your method if we are consider the 4 h time frame do you put pending order based on the recently closed 4 h candle to the same direction ( ex. if it's a sell candle you put sell order / or if it's bull candle u put a buy order ) is correct ? when you free time please reply.. regards
exactly
  • #4,325
  • Mar 3, 2020 12:16pm Mar 3, 2020 12:16pm
Quoting dimdel
{quote} exactly

thanks dear...do you consider the main trend of the price when you put the orders ? because i have mostly realize when one candle perform the next candle mostly go opposite direction ??? in that case we can loss the trade ? don't know am i wrong ? what do you think about ?

regards
  • #4,326
  • Mar 3, 2020 2:15pm Mar 3, 2020 2:15pm
Dimdel, what would you recommend to filter out bad positions?
  • #4,327
  • Mar 11, 2020 5:02pm Mar 11, 2020 5:02pm
Quoting foff00
Dimdel, what would you recommend to filter out bad positions?
I have tried this on 15m chart with a 1hr and 15m filter using 21ma weighted /weighted close. It seems to work really well, I will be trying on higher timeframes.
  • #4,328
  • Mar 12, 2020 12:46am Mar 12, 2020 12:46am
Quoting Spikehunter
{quote} I have tried this on 15m chart with a 1hr and 15m filter using 21ma weighted /weighted close. It seems to work really well, I will be trying on higher timeframes.
too noise in small TF
i prefer D1/H4
  • #4,329
  • Mar 12, 2020 4:23am Mar 12, 2020 4:23am
Quoting dimdel
{quote} too noise in small TF i prefer D1/H4
Agreed there is a lot of noise, I am still testing and I am trying out different filters some of which are, I think, novel and some are based on existing indicators with variations. What you have described as an entry procedure is in general working for me and I would thank you for that. I read a book years ago which took indicators and tried different ways of using them e.g. Bollinger Bands on RSI. I also had a conversation with a trader some months ago who said he only worked with Probability. I have quite a bit of Options trading experience and there you have historical and implied Volatility. I am looking at that based on ATR.

For foof00 present my filter is 15m MA Linear weighted MA with weighted close etc. I then calculate the speed that this MA is moving based on how fast it should be moving. A simple MA would keep you out of most "bad trades" I guess or use RSI>60 <40 is also a good one.

I hope those who read this thread realise its real value.
  • #4,330
  • Mar 12, 2020 5:03am Mar 12, 2020 5:03am
Quoting Spikehunter
or use RSI>60 <40 is also a good one. I hope those who read this thread realise its real value.
You left out critical detail: which PERIOD to use. Do not make an assumption that everyone will use MetaTrader's default 14. Personally, I never use 14.
To free Gazans of Hamas, use whatever it takes.
  • #4,331
  • Mar 12, 2020 5:38am Mar 12, 2020 5:38am
Quoting DrDave
{quote} You left out critical detail: which PERIOD to use. Do not make an assumption that everyone will use MetaTrader's default 14. Personally, I never use 14.
I believe you and I have had pleasant conversations before.

I have spent many hours reading, researching, testing, building EA's and trading different ideas. There are many on here who just want to be spoon fed. I am not one and I am also not one with the spoon. If someone wants to learn how to trade then they also have to put in the work. What works for me may not work for them.

I never use defaults in fact I very rarely even use the standard indicators as I mentioned in my post. Indicators were built mainly pre computer times, are mathematically calculated for ease of use. I have moved on to use the tools that I personally have, computers and an ability to program. Something else I have had to learn, although I was a mainframe systems programmer back in the 70's.

I still use a version of TMA which we discussed, although for my purposes a standard weighted MA is very close using weighted prices.

I suggest that anyone trying this method of entry and requires a filter should go through all obvious indicators and try them with Fibonacci numbers for their settings. I would also suggest that before they use an indicator they actually learn what it does and what should be expected of it. Its all there on the internet, there is no excuse these days for not being able to research it. When I was learning to program if I asked my manage what should I do in a certain circumstance I was told "rtfm". Good advice.

Out of politeness and in the spirit of co-operation and the fact we have conversed before I use 13 on RSI and 21 on the w/w MA across all tf's as a standard starting point. I am only using 15m with this at the moment because it generates trades I can develop an advanced MM system with.
Good luck
  • #4,332
  • Mar 12, 2020 8:25am Mar 12, 2020 8:25am
Quoting Spikehunter
{quote} I believe you and I have had pleasant conversations before. I have spent many hours reading, researching, testing, building EA's and trading different ideas. There are many on here who just want to be spoon fed. I am not one and I am also not one with the spoon. If someone wants to learn how to trade then they also have to put in the work. What works for me may not work for them. I never use defaults in fact I very rarely even use the standard indicators as I mentioned in my post. Indicators were built mainly pre computer times, are mathematically...
HI SPIKE

well i agree with you
but personally i dont trust indicators
why?
because all indis tell me what just happened in the chart before
but tha same icon can see it with nude chart
also someone can tell ( yes but with stochastic i can see overbought etc.)
ok if anyone can watch clearly the prices , then he know the overbought area,
we use stochastic only to comfirm our view

just my opinion......
  • #4,333
  • Mar 12, 2020 12:36pm Mar 12, 2020 12:36pm
Totally agree
  • #4,334
  • Edited 4:19pm Mar 12, 2020 4:09pm | Edited 4:19pm
Today account up 5%. This is becoming a regular occurance to the extent I can now work on creating an efficient exit I did previously have something very similar following a pullback which didn't work as well and only broke even.
The other reason for 15m is get more bars in the day as I use daily atr as target tp. Price mostly not always sticks around here
  • #4,335
  • Mar 12, 2020 4:38pm Mar 12, 2020 4:38pm
227% in five days. You are the man, dimdel.
  • #4,336
  • Mar 13, 2020 8:16am Mar 13, 2020 8:16am
Quoting ChicagoRob
227% in five days. You are the man, dimdel.
  • #4,337
  • Mar 13, 2020 10:08am Mar 13, 2020 10:08am
Quoting dimdel
{quote}
I'm moving to 4 hour charts.
  • #4,338
  • Mar 16, 2020 1:37am Mar 16, 2020 1:37am
dax must go there

will see....

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  • #4,339
  • Mar 16, 2020 2:56am Mar 16, 2020 2:56am
Hi,
Can enyone explain me the explanation of ''TrSl'' and how and when can you use TrSl 150. Thanks.
  • #4,340
  • Mar 16, 2020 3:50am Mar 16, 2020 3:50am
Quoting Celal
Hi, Can enyone explain me the explanation of ''TrSl'' and how and when can you use TrSl 150. Thanks.
Is that short for Trailing Stop Loss. Possibly a 150 period time frame??
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