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Power of Two System

  • #281
  • Jul 9, 2023 1:36am Jul 9, 2023 1:36am
Quoting AzteroiD
Question! This is where I struggle. Determining the 4H bias. As explained in the YouTube material we mark up current price - high or low then mark nearest fractal. The picture is from their free newsletter clearly showing external range. Although several fractals has been created later on. Are we only adjusting our range and bias when price interact with our external range? And how do we manage to determine our bias with a blank chart then. If we mark up current price and nearest fractal the range would be much smaller than shown in the picture....
Hello AzterioD,

Could you be as kind as to post the free newletter if it is in PDF or similar? I would like to see the chart more clearly but my old eyes can't read the text and details on it!

Kind regards,

OD
.
  • #282
  • Jul 9, 2023 4:03am Jul 9, 2023 4:03am
waiting if someone can make scanner for H4 and for M15 for entry
  • #283
  • Edited 8:45am Jul 9, 2023 8:35am | Edited 8:45am
Scott just uploaded a new video with lots of new juicy information to skim through and I'll be summarizing any new concepts over my next few posts. However, for those that are still confused on how to setup your 4 Hour Dealing Range, H4 External Range, HTF Bias, or whatever your like to refer to it as, just start the video at 2:00 minutes. He clearly explains what fractals to use and how to use them.

Please watch! Scott walks us through many setups, enough setups that you should really start to grasp the concepts!

Inserted Video
Can't go broke making profit
  • #284
  • Jul 9, 2023 8:44am Jul 9, 2023 8:44am
1% losses 3% wins

we don't panic after a 1% loss, we're mechanical. Instead of harping on wins and losses, lets look at percent profitable. Psychologically this will keep your morale high and your emotions in check

Notes - Inside Bars invalidate extended sweeps

Reminder - If you cant fit your entire 1:3 RR inside of dealing range its invalid setup
Can't go broke making profit
  • #285
  • Jul 9, 2023 9:26am Jul 9, 2023 9:26am
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2023-07-09_18-25-16.png Size: 49 KB

please admin check if I am right?
  • #286
  • Jul 9, 2023 9:28am Jul 9, 2023 9:28am
Quoting rehmatkhan00
{image} please admin check if I am right?
correct!

just make sure you’re trading in killzones and risking a maximum of 1% per trade and you’re on your way baby!
Can't go broke making profit
  • #287
  • Jul 9, 2023 1:02pm Jul 9, 2023 1:02pm
Quoting rehmatkhan00
{image} please admin check if I am right?
From what I understand. You can still go long up there in premium.

But if a fractal high is printed, then you can only go long in discount.
  • #288
  • Jul 9, 2023 1:11pm Jul 9, 2023 1:11pm
Quoting Paulscaff1
{quote} Thats a new one. Remember in the backtest video where we were making new dealing range highs, he said you can go either long or short. He actually took a long at the top of the range. He got stopped outbthen took the next short signal.
You can go long on a SFT in premium or discount
Can't go broke making profit
  • #289
  • Jul 9, 2023 1:32pm Jul 9, 2023 1:32pm
Quoting FireScape
{quote} correct! just make sure you’re trading in killzones and risking a maximum of 1% per trade and you’re on your way baby!
thank you very much for your kind reply
  • #290
  • Jul 9, 2023 1:33pm Jul 9, 2023 1:33pm
Quoting Paulscaff1
{quote} From what I understand. You can still go long up there in premium. But if a fractal high is printed, then you can only go long in discount.
yeah, I do understand but there was some doubts which I was trying to clear
  • #291
  • Jul 9, 2023 1:34pm Jul 9, 2023 1:34pm
Quoting FireScape
{quote} You can go long on a SFT in premium or discount
Aye sorry mate, I deleted that one just incase it causes confusion, my mistake.

Just watched the newest video.

So you dont need space in the dealing range when trading into a SFT.

But when trading back into a NFT you need the 3R space as a minimum.
  • #292
  • Jul 9, 2023 2:37pm Jul 9, 2023 2:37pm
Quoting Paulscaff1
{quote} Aye sorry mate, I deleted that one just incase it causes confusion, my mistake. Just watched the newest video. So you dont need space in the dealing range when trading into a SFT. But when trading back into a NFT you need the 3R space as a minimum.
All good and yep, SFT has a different set of rules, no 3R fitting, and no premium or discount zones
Can't go broke making profit
  • #293
  • Jul 9, 2023 3:47pm Jul 9, 2023 3:47pm
Quoting FireScape
{quote} All good and yep, SFT has a different set of rules, no 3R fitting, and no premium or discount zones
USDCHF- Would you technically see this as a NFT mate? Due to the fact that the next bar closed up.

Or use a bit of discretion and say its a SFT because it travelled so far from the fractal break?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 9 KB
  • #294
  • Jul 9, 2023 3:56pm Jul 9, 2023 3:56pm
Quoting Paulscaff1
{quote} USDCHF- Would you technically see this as a NFT mate? Due to the fact that the next bar closed up. Or use a bit of discretion and say its a SFT because it travelled so far from the fractal break? {image}
The distance price travels from a fractal doesn't impact our bias. There was 2 bearish candle closes beyond recent fractal low. This is a SFT to the downside with range extended to the low of the that last bullish candle.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 27 KB
Can't go broke making profit
  • #295
  • Jul 9, 2023 4:05pm Jul 9, 2023 4:05pm
Quoting FireScape
{quote} The distance price travels from a fractal doesn't impact our bias. There was 2 bearish candle closes beyond recent fractal low. This is a SFT to the downside with range extended to the low of the that last bullish candle. {image}
Ahh, see I was basing it on the break of the larger dealing range, with all other fractals being internal.
So my break started from the large down bar.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
  • #296
  • Jul 9, 2023 4:15pm Jul 9, 2023 4:15pm
Quoting Paulscaff1
{quote} Ahh, see I was basing it on the break of the larger dealing range, with all other fractals being internal. So my break started from the large down bar. {image}
Attachment g
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB
Can't go broke making profit
  • #297
  • Jul 9, 2023 4:22pm Jul 9, 2023 4:22pm
Quoting FireScape
{quote} 4495250 {image}
Yeah I can see thats internal mate, but if you zoom out thats just a small swing inside of a larger dealing range as shown on my screenshot
  • #298
  • Jul 9, 2023 4:37pm Jul 9, 2023 4:37pm
Quoting Paulscaff1
{quote} Yeah I can see thats internal mate, but if you zoom out thats just a small swing inside of a larger dealing range as shown on my screenshot
Oh I'm sorry, i didn't understand your question. You're right, I haven't seen such a large range.
Can't go broke making profit
  • #299
  • Jul 9, 2023 4:39pm Jul 9, 2023 4:39pm
This is just the beginnings of something to aid in this strat. This kind of Ea is difficult to test in the tester as it doesn't open or close any positions. At the moment all this should do is pop an alert when the most recent fractal is pierced. Put it on a 4 hour chart if you wish to help test it. The logic is likely to pop alerts on the most recent fractal of the time frame you are on at the moment. We can try to improve it over time.
Attached File(s)
File Type: mq4 Power Of Two.mq4   3 KB | 421 downloads
  • #300
  • Jul 9, 2023 4:42pm Jul 9, 2023 4:42pm
Quoting FireScape
{quote} Oh I'm sorry, i didn't understand your question. You're right, I haven't seen such a large range. After the large move down there was actually a NFT to the downside sweeping liquidity so it got quickly taken out.
No thats cool mate, just making sure the facts are right.
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