KABIR IS ALMIGHTY GOD. RIGHT WAY OF WORSHIP=ROI, WRONG WAY OF WORSHIP=LOI
Swing Low as it has all four defined parameters like: bar A, bar B, highest high(hh) after A & bar C.
Construction of Swing Low:
(i) A=lower high-(lower low & lowest low/equal low)bar during downtrend.
(ii) B= always HL-HH bar with reference to bar A with close at or above the high of A
(iii) Now we mark the highest high bar(hh) after A
(iv) Draw the horizontal line through top of hh after A
(v) Draw the horizontal line through bottom of low of A also.
(vi) If high of recent bar in history left of A is above the top of horizontal line, then bar C is confirmed and Swing Low is Validated. [OR]
If low of recent bar in history left of A is below the bottom of horizontal line, then bar C is not confirmed and Swing Low Failed.
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Below Example 1 (hh becomes high of B only)
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Below Example 2(hh becomes different than high of B)
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Below Example 3(for knowledge purpose when will the Swing Low fails)
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Construction of Swing Low:
(i) A=lower high-(lower low & lowest low/equal low)bar during downtrend.
(ii) B= always HL-HH bar with reference to bar A with close at or above the high of A
(iii) Now we mark the highest high bar(hh) after A
(iv) Draw the horizontal line through top of hh after A
(v) Draw the horizontal line through bottom of low of A also.
(vi) If high of recent bar in history left of A is above the top of horizontal line, then bar C is confirmed and Swing Low is Validated. [OR]
If low of recent bar in history left of A is below the bottom of horizontal line, then bar C is not confirmed and Swing Low Failed.
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Below Example 1 (hh becomes high of B only)
++++++++++++++
Below Example 2(hh becomes different than high of B)
++++++++++++++
Below Example 3(for knowledge purpose when will the Swing Low fails)
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KABIR IS ALMIGHTY GOD. RIGHT WAY OF WORSHIP=ROI, WRONG WAY OF WORSHIP=LOI
- #13
- Edited 10:13pm Nov 18, 2023 10:47am | Edited 10:13pm
BY GRACE OF GOD. BACKTESTED TOTAL 11 TRADES ON 1MIN ON PARTIAL DAY OF 14 NOV 2023 ONLY. ALL ARE WIN WITH RISK TO REWARD AS 1:1. FREQUENCY OF OCCURANCE OF TRADES ALSO REASONABLE. ONE CAN LOOK AND OBSERVE IF INTERESTED TO BACK TEST ITS REALIBILITY AND IMPROVEMENT FURTHER. LETS BENIFICIAL TO ALL OF TRADERS & CODERS.
Thanks & Regards
Thanks & Regards
KABIR IS ALMIGHTY GOD. RIGHT WAY OF WORSHIP=ROI, WRONG WAY OF WORSHIP=LOI
- #14
- Edited Nov 19, 2023 6:44pm Nov 18, 2023 8:25pm | Edited Nov 19, 2023 6:44pm
BY GRACE OF GOD,
DEAR TRADERS & CODERS PLEASE HAVE THE SPECIFICATION AND SEE THE ATTACED CHART OF BUY AND SELL SETUP INADDITION TO BACKTESTED 11 TRADES POSTED IN POST 13, IF INTERESTED LETS DISCUSS HERE.
BELOW IS THE SPECIFICATION FOR BUY SIDE:(LOOK ALL 13 BACKTESTED TRADE SETUPS WIN WITH RISK TO REWARD 1:1 SO THAT SPECIFICATION CAN BE EASY TO UNDERSTAND BUT DO NOT GIVE UP)
THANKS.
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BUY SETUP SPEFICCATION:
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1= Identify any recent simple swing high(i.e. recent highest high/equal high with either side bars high must be lower than the highest high/equal high bar.
i. here simultaneously we project the horizontal arrow line to the right through high of 1 also.
2=once current price breakouts upside of horizontal arrow line, then immediately we mark lowest low/equal low bar after 1.
i. make sure "current breakout bar" must not be the confirmed lowest low/equal low after 1.
ii. here simultaneously we project the horizontal arrow line to the right through low of 2 during "current price breakouts upside".
3=after 2, we look for current price breakouts downside of horizontal arrow line, then immediately we mark highest high/equal high bar above 1.
i. here "current breakout bar" to downside of horizontal arrow line can also be validated as highest high/equal high bar if occurs.
ii. make sure no presence of further simple swing highs b/w the price levels 1 & 3.
4=current price breakouts downside of horizontal arrow line from 3.
i. here we want 4 as fresh breakout to low of 2 and counting starts assumed from minimum second bar onwards after 2.
FIBO TIME LEVELS:
a. Now add three equal fibo time levels 0,1,2 and keep description nil just to see three vertical lines.
b. place low of fibo level 0 at low of price 2,
c. place high of fibo level 1 at high of price 3.
d. third vertical line automatically places at equal distance.
(here the third vertical line we assumed as T2)
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NOW IF T2 ON OR BEFORE 4 AND NO EXITS OF SELL SETUP ENTRY BEFORE 4 WHILE WE LOOK FROM HIGH OF 3, THEN
NOW IF T2 ON OR BEFORE 4 AND NO EXITS SWING HIGH FROM P BELOW 1 & FROM 2 TO BELOW 3, THEN
BUY LIMIT =@BID PRICE BELOW 2 i.e. ON 4 ITSELF.
TARGET=BID PRICE HIT@ HIGH OF 3
STOP=1:1
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REASON FOR FAILURE OF TRADE WRTO 13TRADES WIN:
DEAR TRADERS & CODERS PLEASE HAVE THE SPECIFICATION AND SEE THE ATTACED CHART OF BUY AND SELL SETUP INADDITION TO BACKTESTED 11 TRADES POSTED IN POST 13, IF INTERESTED LETS DISCUSS HERE.
BELOW IS THE SPECIFICATION FOR BUY SIDE:(LOOK ALL 13 BACKTESTED TRADE SETUPS WIN WITH RISK TO REWARD 1:1 SO THAT SPECIFICATION CAN BE EASY TO UNDERSTAND BUT DO NOT GIVE UP)
THANKS.
-----------------------------------------------------------------------------------------------------------------------------------
BUY SETUP SPEFICCATION:
-----------------------------------------------------------------------------------------------------------------------------------
1= Identify any recent simple swing high(i.e. recent highest high/equal high with either side bars high must be lower than the highest high/equal high bar.
i. here simultaneously we project the horizontal arrow line to the right through high of 1 also.
2=once current price breakouts upside of horizontal arrow line, then immediately we mark lowest low/equal low bar after 1.
i. make sure "current breakout bar" must not be the confirmed lowest low/equal low after 1.
ii. here simultaneously we project the horizontal arrow line to the right through low of 2 during "current price breakouts upside".
3=after 2, we look for current price breakouts downside of horizontal arrow line, then immediately we mark highest high/equal high bar above 1.
i. here "current breakout bar" to downside of horizontal arrow line can also be validated as highest high/equal high bar if occurs.
ii. make sure no presence of further simple swing highs b/w the price levels 1 & 3.
4=current price breakouts downside of horizontal arrow line from 3.
i. here we want 4 as fresh breakout to low of 2 and counting starts assumed from minimum second bar onwards after 2.
FIBO TIME LEVELS:
a. Now add three equal fibo time levels 0,1,2 and keep description nil just to see three vertical lines.
b. place low of fibo level 0 at low of price 2,
c. place high of fibo level 1 at high of price 3.
d. third vertical line automatically places at equal distance.
(here the third vertical line we assumed as T2)
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NOW IF T2 ON OR BEFORE 4 AND NO EXITS SWING HIGH FROM P BELOW 1 & FROM 2 TO BELOW 3, THEN
BUY LIMIT =@BID PRICE BELOW 2 i.e. ON 4 ITSELF.
TARGET=BID PRICE HIT@ HIGH OF 3
STOP=1:1
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REASON FOR FAILURE OF TRADE WRTO 13TRADES WIN:
KABIR IS ALMIGHTY GOD. RIGHT WAY OF WORSHIP=ROI, WRONG WAY OF WORSHIP=LOI
- #15
- Edited 6:36pm Nov 20, 2023 5:41pm | Edited 6:36pm
BY GRACE OF GOD, DEAR TRADERS & CODERS PLEASE HAVE THE SPECIFICATION AND SEE THE ATTACED CHART OF BUY AND SELL SETUP INADDITION TO BACKTESTED 11 TRADES POSTED IN POST 13, IF INTERESTED LETS DISCUSS HERE. BELOW IS THE SPECIFICATION FOR BUY SIDELOOK ALL 13 BACKTESTED TRADE SETUPS WIN WITH RISK TO REWARD 1:1 SO THAT SPECIFICATION CAN BE EASY TO UNDERSTAND BUT DO NOT GIVE UP) THANKS. ----------------------------------------------------------------------------------------------------------------------------------- BUY SETUP SPEFICCATION:...
RESPECTED TRADER & CODER.
SIMPLIED EVERYTHING IN ACTUAL CAHRT. ONE CAN LOOK AND CODE IT THIS TIME WITHOUT HAVING ANY DOUBT IN IT TO CREATE A TEMPLATE OF INDICATOR.
ATTACHED IS THE CHART. PLEASE LOOK AND READ IT CAREFULLY THE SPECIFICATION HOW SIMPLE IT IS.
MY HUMBLE REQUEST SOMEONE CAN HELP IN THIS FORUM AND CONTRIBUTE TEMPLATE OF INDICATOR TO PUBLIC IN MQL5 FORMAT.
THIS WAY WE CAN BENIFIT TOGETHER ALL OF US.
THANKS & REGARDS
KABIR IS ALMIGHTY GOD. RIGHT WAY OF WORSHIP=ROI, WRONG WAY OF WORSHIP=LOI
{quote} BY GRACE OF GOD RESPECTED TRADER & CODER. SIMPLIED EVERYTHING IN ACTUAL CAHRT. ONE CAN LOOK AND CODE IT THIS TIME WITHOUT HAVING ANY DOUBT IN IT TO CREATE A TEMPLATE OF INDICATOR. ATTACHED IS THE CHART. PLEASE LOOK AND READ IT CAREFULLY THE SPECIFICATION HOW SIMPLE IT IS. MY HUMBLE REQUEST SOMEONE CAN HELP IN THIS FORUM AND CONTRIBUTE TEMPLATE OF INDICATOR TO PUBLIC IN MQL5 FORMAT. THIS WAY WE CAN BENIFIT TOGETHER ALL OF US. THANKS & REGARDS {image}
I see you trading with
1/swing 123,
2/value area,Upload From Device (http://javascript<b></b>:void(0)
3/engulfing,
4/trend line, and we dont want to overload the chart so I would propose this template (tools are from various trader, credits due to the many generous and great coders on this forum)
plus Ctimer for close of current candle, not added in template bec Ctimer don't work on simulator
