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Daily green/red candle

  • #4,401
  • Nov 21, 2020 4:55am Nov 21, 2020 4:55am
Quoting bojack34
Have you given thought to or maybe tried before.....only trading in the direction of the new candle color. For example, if the last candle to close was a new color ( lets say RED ) then on the next candle when you place your pending orders. Only place a pending order for a SELL. Since you trying to get in as early as possible on a change in a direction of trend. You should only place pending orders in that direction. This might take care of the break out of both sides. Honestly with this strategy you wouldn't want to enter a trade in the same direction...
yes
this is 1 of 3 ways to use greenred
there is in 1st page
  • #4,402
  • Nov 21, 2020 10:02am Nov 21, 2020 10:02am
Quoting dimdel
{quote} yes this is 1 of 3 ways to use greenred there is in 1st page
I must have missed it on first page.
  • #4,403
  • Nov 25, 2020 9:57pm Nov 25, 2020 9:57pm
What about picking a couple of pairs and focusing on those. Go back a few years and see what the biggest Daily Candle has been and use 150% (or what ever you want) as the SL. For example.......If the biggest candle in the last 3 years has been 200 pips and your using 150% for your SL then your SL would be 300 pips. Then use something very small in comparison as your TP. In the example if your SL is 300 pips....use 30 pips as your TP. If you risk 5% per trade you will make .5% per trade. If trading 5-6 pairs you can limit your self to the best 2 or 3 setups. If you're using SL's of 150% from the biggest candles in the past 3-5 years, there's a good chance your SL won't be hit. I understand your RR is horrible. It's just a thought.
  • #4,404
  • Nov 27, 2020 1:25am Nov 27, 2020 1:25am
Quoting bojack34
What about picking a couple of pairs and focusing on those. Go back a few years and see what the biggest Daily Candle has been and use 150% (or what ever you want) as the SL. For example.......If the biggest candle in the last 3 years has been 200 pips and your using 150% for your SL then your SL would be 300 pips. Then use something very small in comparison as your TP. In the example if your SL is 300 pips....use 30 pips as your TP. If you risk 5% per trade you will make .5% per trade. If trading 5-6 pairs you can limit your self to the best 2...
hi bojack
good idea
I agree with your thinking but this produces a different (perhaps profitable) system ...but still different
I trade with the momentum of 1-2 previous candles
  • #4,405
  • Dec 7, 2020 2:29am Dec 7, 2020 2:29am
Quoting dimdel
{quote} i agree but my opinion is 1st you start withs x if x isnd profitable then you try to find a filter/s i know there are many many startegys, indicators,etc but i dont want more stess in my life i have spend many hours front in pc end,finito daily , once a day a look ,for 10-30 minutes and i am trying with real account-no demo if dont work then ok i will let all the profits for you boys
i would like to know how to work when the market is range ?
  • #4,406
  • Dec 7, 2020 1:51pm Dec 7, 2020 1:51pm
Quoting hr.trader
{quote} i would like to know how to work when the market is range ?
hi
as far as i know
no one knows when the market is sideways or trending
( the chart give only the past, so if you see range marke you dont know if is the last day of range
also if you see trend you dont know if is the last day )
You will usually find out later, but you have already given the order
so
i trade like trend market and at the end of the day i smile or no
  • #4,407
  • Dec 7, 2020 2:00pm Dec 7, 2020 2:00pm
Hi,
I suggest to add Heat Map to your order to be powerful.

Good strategy
if there is market there will be opportunities
  • #4,408
  • Edited Dec 12, 2020 7:49am Dec 11, 2020 8:31pm | Edited Dec 12, 2020 7:49am
Hey Dimdel.....here's a little spin on the Red/Green strategy that I thought about one night. Most people won't look at this twice because of the horrible r:r.

Using the Daily Candles trade every time a new color appears but only in the direction of the new color......we will use the Hi/Low of the previous candle as our SL and we will use 1/10 of that as our TP. If yesterdays candle is Green (Long) and then today's daily candle closes Red (Short), then tomorrow I will have a pending order on the Low of todays Red candle.......and if tomorrow the pending order isn't triggered then you cancel the order and wait for a new signal. If the new signal is the very next candle, trade it normally. I know most people will say it's stupid because of the 10:1 RR. You can also use 80% of the previous candle as your SL instead of all 100% of the candle. It too had very good results. This will improve the RR.

Here's the basic setup....

Attached Image (click to enlarge)
Click to Enlarge Name: 4.png Size: 79 KB


Here was the quick visual backtest that sparked my interest.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 110 KB
  • #4,409
  • Dec 20, 2020 12:24am Dec 20, 2020 12:24am
Quoting bojack34
Hey Dimdel.....here's a little spin on the Red/Green strategy that I thought about one night. Most people won't look at this twice because of the horrible r:r. Using the Daily Candles trade every time a new color appears but only in the direction of the new color......we will use the Hi/Low of the previous candle as our SL and we will use 1/10 of that as our TP. If yesterdays candle is Green (Long) and then today's daily candle closes Red (Short), then tomorrow I will have a pending order on the Low of todays Red candle.......and if tomorrow the...
ok i will test it
but in any case this is a diff strategy
thanks
  • #4,410
  • Dec 20, 2020 1:39am Dec 20, 2020 1:39am
a proposal
trading in forex with calm background music many times the decisions are calmer and more correct
listen to my own composition ,playing ,recording
and maybe help you as much as I do myself

https://www.youtube.com/watch?v=1i9x9QvQA6s
  • #4,411
  • Jan 11, 2021 8:56pm Jan 11, 2021 8:56pm
Quoting bojack34
Hey Dimdel.....here's a little spin on the Red/Green strategy that I thought about one night. Most people won't look at this twice because of the horrible r:r. Using the Daily Candles trade every time a new color appears but only in the direction of the new color......we will use the Hi/Low of the previous candle as our SL and we will use 1/10 of that as our TP. If yesterdays candle is Green (Long) and then today's daily candle closes Red (Short), then tomorrow I will have a pending order on the Low of todays Red candle.......and if tomorrow the...

Hi Bojack and Dimdel . . . happy new year!

Kind of interesting with the exceptional strike rate. Wondering if you experimented with slightly larger TPs than the 10%? Alternatively, possibly a SL lower than 80%. This isn't going to get near to 1:1, but maybe a 20 or 25% TP is possible. Doing a little checking. Anyway, thanks for your thoughts.

I think there is something here worth pursuing, but it is a serious mod of Dimdel's excellent Red-Green.

I did see something related to this once where the trader was pulling in 2-5% a day though at a lower TF. Had his R:R at 4:1 and it steadily worked.
  • #4,412
  • Jan 11, 2021 9:09pm Jan 11, 2021 9:09pm
Quoting Forest-Sea
{quote} Hi Bojack and Dimdel . . . happy new year! Kind of interesting with the exceptional strike rate. Wondering if you experimented with slightly larger TPs than the 10%? Alternatively, possibly a SL lower than 80%. This isn't going to get near to 1:1, but maybe a 20 or 25% TP is possible. Doing a little checking. Anyway, thanks for your thoughts. I think there is something here worth pursuing, but it is a serious mod of Dimdel's excellent Red-Green. I did see something related to this once where the trader was pulling in 2-5% a day though at...
I wish someone could turn my idea of the red/green strategy into an ea. It would be very easy. Straight forward rules. I believe there is some merit to it. If I had more time I would forward test it.
  • #4,413
  • Jan 17, 2021 9:44am Jan 17, 2021 9:44am
Dimdel hi neighbour i have been using your method for 1 year. But my profit is not big as much as yours because legal leverage is 1:10 in Turkey so i cant risk more than %4 for every Day. But anyway the method is working. İf you need help for backtesting or something like that you can send message to me. Good luck my firiend. By the way that is not Greek coffee that is turkish coffee
Attached Image
  • #4,414
  • Jan 17, 2021 12:34pm Jan 17, 2021 12:34pm
Quoting raskolnikov
Dimdel hi neighbour i have been using your method for 1 year. But my profit is not big as much as yours because legal leverage is 1:10 in Turkey so i cant risk more than %4 for every Day. But anyway the method is working. İf you need help for backtesting or something like that you can send message to me. Good luck my firiend. By the way that is not Greek coffee that is turkish coffee {image}
Hello. How much you risk per trade?
  • #4,415
  • Jan 17, 2021 1:55pm Jan 17, 2021 1:55pm
Quoting joao10
{quote} Hello. How much you risk per trade?
Hi. There are 5 pair in my basket i risk %4 every Day. For example lets assume There are 4 trade opportunity i risk %4/4 = %1 each pair or there are 1 trade opportunity i risk %4/1 = %4 for the pair. Total risk of my running trades is always %4. I can not risk more because 1:10 legal leverage in Turkey.
  • #4,416
  • Edited 10:59pm Jan 24, 2021 7:23pm | Edited 10:59pm
greetings to dimdel and everybody else......
I did some manual backtesting EU for the period 2/1 - 27/4/2020 for the daily red/green system with high/low +/- 10 pips.....every number checked on the 15m TF after entry.......
2 losing trades avoided by +/- 10 pips to high/low and quite a few trades not triggered......1 losing trade on 20/2 with trade triggered 11/12 pips above the high of the candle....
from my small test it seems that trades will survive retraces after entry if SL = 65% of candle size....
anybody up for a little puzzle??? how would you manage your trades after entry to get the best result with these numbers??? when to BE - how to exit etc.

date/green or red/20-day ATR/candle size/retrace after entry/max profit/days in trade
2-1/R/46/61/26/28/1
7-1/R/50/64/8/44/3
10-1/G/50/44/35/33/4
16-1/R/49/44/0/126/9
30-1/G/45/35/13/46/1
3-2/R/47/58/3/244/11
21-2/G/43/80/43/339/7
5-3/G/63/125/43/241/2
10-3/R/76/184/69/209/2
17-3/R/103/234/36/310/4
23-3/G/135/192/81/310/4
30-3/R/161/134/38/232/5
7-4/G/167/143/22/16/3
15-4/R/153/134/5/30/1
22-4/R/132/82/53/66/3



1
  • #4,417
  • Jan 25, 2021 9:49am Jan 25, 2021 9:49am
Quoting raskolnikov
{quote} Hi. There are 5 pair in my basket i risk %4 every Day. For example lets assume There are 4 trade opportunity i risk %4/4 = %1 each pair or there are 1 trade opportunity i risk %4/1 = %4 for the pair. Total risk of my running trades is always %4. I can not risk more because 1:10 legal leverage in Turkey.
Hello. Tell me, what method did you use during this year, each candle or just with a new color? thanks
  • #4,418
  • Jan 27, 2021 8:16am Jan 27, 2021 8:16am
Quoting yonnie
greetings to dimdel and everybody else...... I did some manual backtesting EU for the period 2/1 - 27/4/2020 for the daily red/green system with high/low +/- 10 pips.....every number checked on the 15m TF after entry....... 2 losing trades avoided by +/- 10 pips to high/low and quite a few trades not triggered......1 losing trade on 20/2 with trade triggered 11/12 pips above the high of the candle.... from my small test it seems that trades will survive retraces after entry if SL = 65% of candle size.... anybody up for a little puzzle??? how would...
hi yonnie
try this

put 2 orders
the 1st TP 161 fibo
the 2nd trsl 161 fibo and let profit run

in any case you risk total the same % , just split it at 1 or 2 or ...... orders
  • #4,419
  • Jan 27, 2021 8:18am Jan 27, 2021 8:18am
Quoting iDentist
{quote} Hello. Tell me, what method did you use during this year, each candle or just with a new color? thanks
hi
depend

H1 BETTER WITH COLOR CHANGE
D1 BETTER EACH CANDLE
  • #4,420
  • Jan 28, 2021 3:26pm Jan 28, 2021 3:26pm
Quoting raskolnikov
{quote} Hi. There are 5 pair in my basket i risk %4 every Day. For example lets assume There are 4 trade opportunity i risk %4/4 = %1 each pair or there are 1 trade opportunity i risk %4/1 = %4 for pair. Total risk of my running trades is always %4. I can not risk more because 1:10 legal leverage in Turkey.
Nice to hear that some idea works for such a long time! Now I forward test one more "Next Candle Strategy" so please may I ask some questions?
1. Do you use D1 or H1?
2. Do you use every new candle or color change?
3. What are your 5 pairs?
4. Do you trail a part of position or use 1 position only?
Thank you for your ideas and all the best to you anyway!
Just an opinion. Based on research
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