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Attachments: 3 Bar Fractal Break
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3 Bar Fractal Break

Quoting clemmo17
{quote} https://www.forexfactory.com/thread/...8#post12808528 This is the one I used for a while back when I was interested in this 4-bar pattern idea. You can see some of the results of my testing at https://www.forexfactory.com/thread/...0#post12858200. Note that it looks better than it actually is because the indicator requires a bar 3 break to close after the break before signalling. It is therefore quite laggy. Then I made another one that doesn't depend on as many rules - it just highlights every break....
hi clemm017,

I am curious about your comment "...The market is a pattern-eraser..".
What do you mean by this?
How did you come to this realisation?

If you are no longer trading patterns, what have you migrated to?
What were the parameters that lead you to any new frame of perception of the markets?

thanks
Quoting obiwandax
{quote} hi clemm017, I am curious about your comment "...The market is a pattern-eraser..". What do you mean by this? How did you come to this realisation? If you are no longer trading patterns, what have you migrated to? What were the parameters that lead you to any new frame of perception of the markets? thanks
There are so many market observers, using so many different forms of analysis, that any pattern that exists for more than 2 or 3 iterations (which is the minimum it takes to notice a pattern) will be exploited by someone. Once that happens, there will be some other observer (human or algo) who will trade against this as they know they can capture some traders offside. This is especially true in Forex. So the result is that barely 9% of market movement is really motivated by anything, the rest is random fluctuations, and that's what I trade now. I simply evaluate a probability of a trade succeeding and then trade it. I spend very little time looking for patterns or trying guess the motivations of market participants.
Quoting clemmo17
{quote} There are so many market observers, using so many different forms of analysis, that any pattern that exists for more than 2 or 3 iterations (which is the minimum it takes to notice a pattern) will be exploited by someone. Once that happens, there will be some other observer (human or algo) who will trade against this as they know they can capture some traders offside. This is especially true in Forex. So the result is that barely 9% of market movement is really motivated by anything, the rest is random fluctuations, and that's what I trade...
I think I understand your perspective.
I use indicators since I don't trust myself to take a manual trade, so trade the probabilities, as you do.
My experience also shows that taking aggregated trades smooths out my performances, so I don't allow a single spike to take me out.
I don't know if you have tried this, or have experience.

Trading is time-consuming, so I can see why you may have abandoned patterns, unless there is an EA that identifies them and sends an alert.

I can see how patterns on lower time-frames may not work, but wouldn't they still be valid on larger time-frames, 4hr and higher, because then the moves are driven by macro-economic conditions, rather than intra-day noise, which, I concede, is likely made up of algos and such like.
Quoting obiwandax
{quote} My experience also shows that taking aggregated trades smooths out my performances, so I don't allow a single spike to take me out. I don't know if you have tried this, or have experience.
This is vital. These days I find trading is about as time consuming as I want to make it. I still elect to spend most of my spare time on it, as I find it interesting.
---Can someone write Fractal Indicator that will send alerts for fractals just outside bolinger bands. i have 1 that works for all fractals. So just to add this option just fractal outside bolinger?
--- Also maybe little harder task is to write indicator that will alert only for fractals that are below price which is below some Moving average lines. Line 1 Line 2 Line 3. Also oposit just fractals that are above price which is above some moving average lines. Optional all or just those outside bolinger lines. This is for MT5. If possible for MT4 also. Maybe someone finds it ok for that platform.
---I would open new topic for this but i am new on forum and dont have permision to do that yet so..
---Sorry for writing. English is not my native.
Attached File(s)
File Type: rar fractal mt5.rar   228 KB | 62 downloads
Has anyone had success on getting the Source code for this indicator? or have access to whomever created it?? I found a small issue with it.

I like to remove the object description of the indicator because it clutters my chart and covers some candles (especially on lower TF), however, when i change it to "false" under inputs this action Turns OFF my entire chat object description of my chart as whole!!
I was wondering what happened to all my labels on the lines i had drawn manually, then i went into my chat Properties and found that the chart description there was somehow turned off (it had always been on), i realized it was caused by changing this indicators "show object description" to false.

Even trying to turn on my chat Properties "object description" back on doesn't work, each time i turn it on it unchecks the box automatically which is due to this indicators "Show object Description" being set to false
Attached File(s)
File Type: ex4 3_bar_fractal.ex4   62 KB | 215 downloads
Quoting dazjw2311
previous bar SL 2-1 risk reward but try whats suits your style https://i.imgur.com/48pf9T8.png {image}
Hello Daz please have you been able to construct a nice indicator for the strategy just like in your screenshot.Please kindly share
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