Bionic Chart - The easiest forex navigation

Hi Bionics,
If you have, can you give us the mt5 version of BionicCandle indicator, thank you very much.

im not sure what you saying, even here in ff you see, that tradingview is mor common.
also the design and architecture of tradingview is state of the art. Mt is a plattform for stealing money. You see it on all the fake brokers.
go to the forum of mq und start a discussion about brokers, this will be canceld.
tradingview look that the brokers are serious.
and as long you not a algo trader, that is the plattform you should choose.

Hello Celal, the Bionic Candle is currently only available for the MT4. Greetings Michael

Important message to everyone visiting our thread for the first time.

First of all, we are pleased that you would like to take part in this exciting exchange. So that you get the most important basics, please have a look at my first post in the interest of all members:

https://www.forexfactory.com/thread/...rex-navigation

Thank you and we look forward, to a constructive exchange with you. Greetings Michael

Hello Michael,
I can't quite understand why the candle at Point F is the new Key-Candle. I thought a Key-Candle has to broke a former swing high and low.
We had a strong yellow candle which I marked as a new Zone to the right (but missed the entrys at Point F).

Hello T2W, first of all, welcome to our blog. It is perfectly normal for zone creation to be a little tricky at the beginning. Please have a look at my last video: "Work with the bionic candle"

https://www.forexfactory.com/thread/...rex-navigation

There you will find my detailed explanations, of how I draw the zones.

Kind regards Michael

Hello Michael,
thank's for the advice. I found the mistake, it's very well explained in this video, starts at 06:10 min.

Pullback in the Bionic candle


Hello dear Bionic Traders,


Actually I wanted to produce a video for this post, but then decided against it because I can explain it better with pictures.



While the normal candle chart consists of three different structures (2 wicks & 1 body), the bionic candle is made up of two bodies.

Point A
In the case of a bullish candle, the price starts at the open, runs to the low, then to the high and back to the close. This process takes place in 85% of the cases, whereby the price of course moves in zig-zag lines. It is noticeable that the Bionic candle pays no attention to the open, although the open can of course also be made visible with the MT4.

Point B
With the bearish bionic candle, too, it initially looks as if the price is going from low to high and back to close. The pullback is the final decisive movement within a candle. For this reason, this pullback was highlighted in the Bionic candle. Although the open is the first movement within the candle, it is the furthest behind in terms of time after the candle has ended. Now some will argue that with the open one is able to identify possible gaps. This is not at all relevant to me, because if you look at a 4 tickchart you will find that there are many more gaps within an M1 candle that you cannot see at all due to the actual candle structure. And that's exactly why we will deal with the tick charts in more detail at a later point in time. As you have probably seen, I have highlighted the pullbacks in my charts in color, while the candle body is colored gray. This is simply because the pullback gives me significantly more information than the body of the candle itself. First of all, the size of the pullback determines the strength of the candle. The smaller the pullback, the stronger the candle.


If we now compare the bullish candle A with candle B, we see a stronger bearish objection at candle B. Of course, you cannot read any information from the pullback of an individual candle as to whether the next candle will go up or down. But the more information that comes together within a short period of time, at similar price levels, the easier it is to make an assumption.



In this chart, I put the pullbacks under a lot, and we just want to focus on that for now.

Point A
We see stronger bearish pullbacks on the high, after which the price moves down.

Point B
At the low we see stronger bullish pullbacks, after which the price moves up.

Point C
We see stronger bearish pullbacks on the high, after which the price moves down.

Point D
At the low we see stronger bullish pullbacks, after which the price moves up.

I could go on forever now, but maybe you will have a look for yourself, the points I have marked and how the price reacts to them. Now we come to the points in my histogram, which is an image of the pullbacks.


Point V
The price is going up and we can see that the further the price goes up, the stronger the bearish objections become. Shortly before the high, the bearish objections become stronger and stronger at tight price levels. That would be a sign for me to be a little more careful with long trades.

Point W
Here the same game only in reverse. The stronger the bullish objections get, the more cautious one should be about making another short trade.


Here you can see the monthly chart of the EURUSD only with the pullbacks.

Basically, I would like to recommend that you do not trade on this information. However, the pullbacks are able to give you a better overview of the overall situation. Of course I have created another template for you so that you can implement this representation more easily.

I wish you a successful trading day and look forward to your feedback.

Kind regards Michael

Important message to everyone visiting our thread for the first time.

First of all, we are pleased that you would like to take part in this exciting exchange. So that you get the most important basics, please have a look at my first post in the interest of all members:

https://www.forexfactory.com/thread/...rex-navigation

Thank you and we look forward, to a constructive exchange with you. Greetings Michael

[quote=T2W;13770033]Hello Michael, thank's for the advice. I found the mistake, it's very well explained in this video, starts at 06:10 min. /quote]


Hello TW2, I'm very happy and I keep my fingers crossed for you. Every trader has the problem of trading in a market that does not give him a clear view of where the price will go in the future. The secret lies in the invisible price levels of the big players, which are simply postponed. As a result, the required algorithms can be adapted relatively easily to the new market situation and do not require any complex programming. The Bionic Candle was developed to identify these invisible price levels. What seems easy at first glance takes some practice. I wish you every success and we look forward to your feedback. Greetings Michael

Hello dear Bionic Traders,

also from my side, a warm welcome to all of you in this blog. Michael asked me a few weeks ago if I would like to participate as CO moderator in his biggest project at Forex Factory. At first I was a little reluctant, as I have no blog experience yet, but more in the area of the bionic candle. At this point I would like to introduce myself first.

My name is Wolfgang, I come from Germany and I am 48 years old. I started trading in 2017. First I traded stocks and then switched to the futures market. I've known Michael for a few years before I figured out what trading approaches he was pursuing. Since I was only making losses (and not a little) I wanted to find out more about it. Through him I got to know the Forex market and annoyed him for weeks that he supports me. As a mentor, he helped me over 300 hours via Skype, TeamViewer and Zoom, which finally brought me to breakeven after a year. I am not in the profit yet, but I am not losing any more and one of the main reasons for this can clearly be traced back to the Bionic candle.

I still do trading on a part-time basis, so unfortunately I don't have the time to deal more intensively with the market. Still, my goal is to make a living from it within 1-2 years. I also only trade the EURUSD and work with a similar workplace and strategy as Michael. That is why I am very pleased that we are bringing our experience together here. I firmly believe that we can all benefit from it in ways we can't even imagine right now. I'm very proud to be here, but give me some time here to familiarize myself.

Kind regards Wolfgang

Hi Wolfgang and welcome aboard.

Hello wolfgang, thank you for your explanation and I look forward to hearing about your experiences.

Hello lemercenaire, thanks for the warm welcome. I am also happy to be here. Kind regards Wolfgang

Hello Ingo, everything is still new to me here, but I'm also looking forward to a great exchange of experiences. Greetings from Bavaria

Welcome Wolfgang!

Hello Jeff59FX, thank you very much for that.
Kind regards Wolfgang

Hello dear Bionic Traders,



Here is a small update from the M15. In this upward movement at Point A, the shorts traders were initially taken out. Then the course ran into our created resistance zone. In the following sequence of movements to Point B, the short traders were again extremely removed from the market yesterday. So there were some good opportunities for a short trade today. The resistance zone at Point C has been approached exactly, and a pullback is currently taking place again. At the moment, massive bids are still being collected, from which one can conclude that the price will continue to decline in the medium term.

I wish you a successful trading day.

Best regards Michael

Hi Micheal

I cannot see how your bionic candles create a better view than ordinary japanese candles

Even the key candle blue and yellow are marking to many areas to be of use tbh

This can be less confusing marking these ares without your bionic candles i think

TL

Hello Tradelive, first of all thank you for your assessment after a total of 7 days. I myself have been working with the Bionic candle for over 3 years and have not yet found out all the information and advantages. That is why we have started a project here to get to know the Bionic Candle better together. The candle charts have been around since the 16th century and it is clear that they have a big head start. As I have already emphasized a few times in my blog, the bionic candle is initially a big change compared to the candle charts, which requires sensitivity, the will to succeed and of course perseverance. Of course, this changeover cannot be implemented within seven days, especially if you worked differently many years earlier. Of course, I accept if you are not able to cope with this candle at all, and I thank you very much for showing your willingness to participate in this project. But that doesn't mean that the Bionic candle doesn't work, just that it doesn't work for you. And that's perfectly fine, as every trader should always use whatever they can best survey the market with. There are also many people who cannot cope with the DoM or the T&S, even though other traders are trading with it profitably. I wish you continued success in the future and thank you again for your valuable time. Greetings Michael