Dual Candle Strategy

Dual Candle-stick Strategy

My 4HR Dual Candlestick strategy is based on dual candlestick patterns in which the second candle is completely contained by the high and low of the first candle. Using two indicators for this strategy are

Bollinger Band (20,2, close)
RSI (14, close, Levels 30,50,70)

Long position

1. The first candlestick must be bullish (green or white) and if the second candlestick (either green or red) is completely contained by the first,
2. Both appear between upper and middle bands of Bollinger bands and,
3. RSI above 50 level.

Then set a buy-stop order. Use the high and low of the first candle for the calculation of buy-stop order.

Mostly i find both candle of same color

1. If the first candlestick is bullish (green or white) and the second candlestick is also green or white,
2. Both appear between upper and middle bands of Bollinger bands and
3. RSI above 50 level.
4. Then use the high and low of the first candle and put it into Google Spreadsheet it will calculate Entry price , Stop-Loss and Take-Profit.

Short position

1. The first candlestick must be bearish (red or black) and if the second candlestick (either red or green) is completely contained by the first,
2. Both appear between lower and middle bands of Bollinger bands and
3. RSI below 50 level.

then set a sell-stop order. Use the high and low of the first candle for the calculation of sell-stop order.

Mostly i find both candle of same color

1. If the first candlestick is bearish (red or black) and the second candlestick is also red or black
2. Both appear between lower and middle bands of Bollinger bands and
3. RSI below 50 level.
4. Then use the high and low of the first candle and put it into Google Spreadsheet it will calculate Entry price , Stop-Loss and Take-Profit.

https://docs.google.com/spreadsheets...it?usp=sharing

Interesting, an Inside Bar strategy with Bollinger Bands. I'll have to test this out...

Dear sak.mandhai very simple system...are you using this method in live acc. or still in dimo acc. don't it work in lower time f. regards

Interesting will check it out

Interesting strategy.

Do you have any backtest/forward test results on a bundle of pairs/timeframes?

Many thanks

I find it amazing how traders here are coming very close, almost touching it, almost nailing it, with many of their ideas.

This dual candle thing now? Not the one here, in precise, but again, touching something big?

Like the other tread, where they have an absolute miracle indicator? Telling the exact moment of movement? And they trade it in a completely wrong way in there? They don’t even know how amazing their core indicator actually is? Nobody there have noticed it how their indicator shows in 8 out 10 times, the moment of the movement? Maybe even more than 8/10? Definitely more! For me is 10/10...

Similar thing here! Unbelievable...

If I was a banker, you would just heartbreak me, with ideas coming so close to something that will actually endanger my wallet?

[quote=sak.mandhai;13002127]Dual Candle-stick Strategy My 4HR Dual Candlestick strategy is based on dual candlestick patterns in which the second candle is completely contained by the high and low of the first candle. Using two indicators for this strategy are Bollinger Band (20,2, close) RSI (14, close, Levels 30,50,70) Long position The first candlestick must be bullish (green or white) and if the second candlestick (either green or red) is completely contained by the first, Both appear between upper and middle bands of Bollinger bands and, RSI above 50 level. Then set a buy-stop order. Use the high and low of the first candle for the calculation of buy-stop order. Mostly i find both candle of same color If the first candlestick is bullish (green or white) and the second candlestick is also green or white, Both appear between upper and middle bands of Bollinger bands and RSI above 50 level. Then use the high and low of the first candle and put it into Google Spreadsheet it will calculate Entry price , Stop-Loss and Take-Profit. Short position The first candlestick must be bearish (red or black) and if the second candlestick (either red or green) is completely contained by the first, Both appear between lower and middle bands of Bollinger bands and RSI below 50 level. then set a sell-stop order. Use the high and low of the first candle for the calculation of sell-stop order. Mostly i find both candle of same color If the first candlestick is bearish (red or black) and the second candlestick is also red or black Both appear between lower and middle bands of Bollinger bands and RSI below 50 level. Then use the high and low of the first candle and put it into Google Spreadsheet it will calculate Entry price , Stop-Loss and Take-Profit. https://docs.google.com/spreadsheets...it?usp=sharing {image} {image} {image} {image} {image} {image}[/quote

Heres a good insidebar indicator with alerts and history of last insidebars....

I would like to know precisely if the value of RSI to be considered is taken from the 1st or 2nd candle, or both candles.

Thanks

I am using it on live account and also providing signal service with this system too

Time Frame is 4hr and i tested on this time frame

yes i have attached are the results of my signals service by using this system

I used first candle

hi, may i ask which thread you're talking about? Thanks in advance!

One of the biggest around in here. The thread owner is very rude (for a very good fool-specific reason). He is an immigrant and he is also a man of art...

[quote=sak.mandhai;13003997]{quote} I am using it on live account and also providing signal service with this system too Time Frame is 4hr and i tested on this time frame[/quot
thanks dear for your reply....when you watch this type of setup do you given some special attention to the setup which is perform closed to the middle BB ?

because when i go through the chart mostly end of the trend it has not going to the target. how are you manage this ?

[quote=sam1967;13004215]
Can you send me screenshot of pair you watch so i can easily explain you

[quote=sam1967;13004215]
I had posted my entry on tradingview.com

you can check there https://www.tradingview.com/u/forexfiverr16/

Thanks

Today i find this entry AUDNZD @ 1.07312 click here

Thanks for sharing your strategy, I have a question, if you have a bull candle followed by a bear candle inside the bull candle, and both are below middle line of Bollinger band, and rsi below 50, would you advice in shorting in such situation

If first candle is bull and second is bear and candle appear below middle band and RSI below 50 then wait for another setup

here is a signal

Pair EURUSD
Signal Sellstop
Price 1.12202
SL 1.13402
TP1 1.12002
TP2 1.11802
TP3 1.10702