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Daily chart trading - simple entry and exit criteria

  • #121
  • Sep 24, 2022 7:11pm Sep 24, 2022 7:11pm
Quoting disciplined
those loses are minor compared to profits. You have to leave open trades for days/weeks to be successful in this strategy. Sometimes price will get into a range after you get in, so patience is the only way. no these days I only trade us500. Nothing else. {quote}
Attached Image (click to enlarge)
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  • #122
  • Sep 25, 2022 6:35am Sep 25, 2022 6:35am
Quoting TheZenienss
{quote} {image}
Only considering this chart it does not like a good win/lose ratio to me. Am I wrong?
  • #123
  • Sep 25, 2022 2:29pm Sep 25, 2022 2:29pm
Quoting BataviaTrade
{quote} Only considering this chart it does not like a good win/lose ratio to me. Am I wrong?
The arrows are giving the signals exactly as OP mentioned on post #1

  1. Buy (BLUE ARROW) - Third candle closes above close of previous two candles (Ideally Third should be bullish and previous two bearish)
  2. Sell (SELL ARROW) - Third candle closes below close of previous two candles. (Ideally Third should be bearish and previous two bullish)


@BataviaTrade: I have the same thought!

  • #124
  • Sep 25, 2022 4:10pm Sep 25, 2022 4:10pm
When the 3 candles are combined, they end up a Key Reversal Bars, or possibly Bearish or Bullish Engulfing Bars

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #125
  • Sep 25, 2022 8:16pm Sep 25, 2022 8:16pm
Quoting pipibrasci
GBPUSD W1 Possible scenario. {image}
This would have been a super good run if I had caught this
  • #126
  • Sep 27, 2022 5:52am Sep 27, 2022 5:52am
Quoting Erebus
{quote} Thanks for that, as I expected, try this one (if you need it for MT5 that is) Still need to figure how to share for Tradingview I'll study the HELP section over the holidays {file}
I started testing 4_Bar.mq5 and it works. The 4BarFractalBreak.ex5 and TimeSeries.ex5 don't load on chart. Do they exist to make 4_Bar.mq5 work on chart?
If you're not architecting, you're building someone else's plan.
  • #127
  • Sep 27, 2022 8:17am Sep 27, 2022 8:17am
Quoting XMR
{quote} I started testing 4_Bar.mq5 and it works. The 4BarFractalBreak.ex5 and TimeSeries.ex5 don't load on chart. Do they exist to make 4_Bar.mq5 work on chart?
I don't know what they are or how they got in the zip folder.

The 4_Bar is all you need for the signals

Cheers
It takes a lot for me to IGNORE you, but you can try.
  • #128
  • Oct 4, 2022 9:14am Oct 4, 2022 9:14am
It definitely is working.. losses are part of the game.. as long as you are patient to run the profits until you see a reversal
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  • #129
  • Oct 5, 2022 4:29pm Oct 5, 2022 4:29pm
Another 4 Bar Strategy version which is very effective to my daily needs. Thanks for the 4 Bar Indicator and methodology, it does work.
Find your solution.
Attached Image (click to enlarge)
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  • #130
  • Oct 5, 2022 4:48pm Oct 5, 2022 4:48pm
Quoting disciplined
It definitely is working.. losses are part of the game.. as long as you are patient to run the profits until you see a reversal {image} {image}
Well done disciplined!
Just wondering when and why did you decide to just concentrate on the S&P500, and do you trade your exact rules or being a bit flexable?

Rover
  • #131
  • Oct 6, 2022 1:57am Oct 6, 2022 1:57am
I realised I was getting distracted with the number of forex pairs and needing to keep track of many (not my cup of tea).
I found that with S&P 500 I can take slightly larger leverage, ie the price movements resulted in decent profits (or losses) for my level of deposit (started off with 1k gbp)
I wait for trend reveral with 1-2-3 set up (ie first pullback), and subsequent trades 3 bar in the direction of trend.
After trade going in my direction, I move SL to BE

that’s about it

Trade only daily chart



Quoting rover99x
{quote} Well done disciplined! Just wondering when and why did you decide to just concentrate on the S&P500, and do you trade your exact rules or being a bit flexable? Rover
  • #132
  • Oct 6, 2022 4:55am Oct 6, 2022 4:55am
Hi. I'm starting to make an EA out of this strategy. Kindly check if my understanding is correct. This EA is scanning all 28 pairs for any 3 bar reversal. appreciate any feedback. thanks.
Attached Image (click to enlarge)
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  • #133
  • Oct 6, 2022 7:37am Oct 6, 2022 7:37am
Quoting cpfleger
Another 4 Bar Strategy version which is very effective to my daily needs. Thanks for the 4 Bar Indicator and methodology, it does work. Find your solution. {image}
Thanks Cpfleger. Please can you post the indicators?
  • #134
  • Oct 11, 2022 9:49am Oct 11, 2022 9:49am
Quoting cpfleger
Another 4 Bar Strategy version which is very effective to my daily needs. Thanks for the 4 Bar Indicator and methodology, it does work. Find your solution. {image}
Could you please share your template?
Just an opinion. Based on research
  • #135
  • Edited 4:06am Oct 27, 2022 3:24am | Edited 4:06am
Good day. I need a simple EA with Long/Short setup for night trading. The EA will open a position as soon as the spread falls below the set value. For example 4 cores. Maybe it already exists.
Attached File(s)
File Type: mq4 MT4-Simple-Candle-Open-EA.mq4   11 KB | 367 downloads
Please excuse the bad English via Google Translate.
  • #136
  • Nov 4, 2022 11:24am Nov 4, 2022 11:24am
I'm currently testing this with crypto charts. So far, the results are pretty good.

Current trade I'm in:

Entry was at 0.5 Fib Line in the chart and TP Target is around "3"
Attached Image (click to enlarge)
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https://twitter.com/BeauBuyer
  • #137
  • Nov 6, 2022 8:00pm Nov 6, 2022 8:00pm
Quoting rstranger
Hi. I'm starting to make an EA out of this strategy. Kindly check if my understanding is correct. This EA is scanning all 28 pairs for any 3 bar reversal. appreciate any feedback. thanks. {image}
Hi Stranger....thanks for your message.
Can you share your EA....
Have a nice day..
  • #138
  • Nov 8, 2022 2:48am Nov 8, 2022 2:48am
Quoting ixam23
I'm currently testing this with crypto charts. So far, the results are pretty good. Current trade I'm in: Entry was at 0.5 Fib Line in the chart and TP Target is around "3" {image}
SL got hit, as market got a big hit tonight.

-1R
Attached Image (click to enlarge)
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https://twitter.com/BeauBuyer
  • #139
  • Nov 8, 2022 2:50am Nov 8, 2022 2:50am
One Limit Order got filled on ADA yesterday:
Entry is 0.5 Fib, SL is above behind 0 and TP is at 3.
Attached Image (click to enlarge)
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https://twitter.com/BeauBuyer
  • #140
  • Nov 9, 2022 2:10am Nov 9, 2022 2:10am
Quoting ixam23
One Limit Order got filled on ADA yesterday: Entry is 0.5 Fib, SL is above behind 0 and TP is at 3. {image}
Profit taken at 0.3434 yesterday.

Profit is ~ 4.5R
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
https://twitter.com/BeauBuyer
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