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Third candle bounce

  • #241
  • Jun 12, 2024 3:02pm Jun 12, 2024 3:02pm
Quoting d5400
{quote} Puoi entrare pił in dettaglio sulle regole di queste candele verdi e rosse? Perchč le candele che ho evidenziato non erano segnate? {immagine}
In despite the kind effort of our programmer, I too don't feel well with this indicator. I suspect that the gentleman is not clear on the strategy setup.
  • #242
  • Jun 12, 2024 3:57pm Jun 12, 2024 3:57pm
By M15 refinement I mean M15 movements that cause daily candles to break. On Friday we had NFP. On Monday morning I entered a market order to fill the NFP gap. I closed that buy on FOMC day, but I entered a SELL limit order at the top of the gap. FOMC blew through it, so I averaged with another SELL. Closed after retrace. I don't use SL.
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  • #243
  • Edited 4:13pm Jun 12, 2024 4:01pm | Edited 4:13pm
Quoting d5400
{quote} Can you go into more detail on the rules of these green and red candles? Why the candles that I highlighted were not marked? {image}
Which pair?

I'll have a look tomorrow.
I coded the indicator and dash to the strategy on the first page.
Which timeframe?
  • #244
  • Jun 12, 2024 4:18pm Jun 12, 2024 4:18pm
Quoting Asw
{quote} Which pair? I'll have a look tomorrow. I coded the indicator and dash to the strategy on the first page. Which timeframe?
Can you give your rules in code? Are these the rules that you are using:

LONG:
if(Close[i] > High[i+1] && Close[i+2] > Open[i+2] && Close[i+1] > Open[i+1] && Close[i+2] < Close[i+1] && Low[i] < High[i+2] && Close[i]> Open[i])

SHORT:
if(Close[i] < Low[i+1]&&Close[i+2] < Open[i+2] && Close[i+1] < Open[i+1] &&Close[i+2] > Close[i+1] && High[i] > Low[i+2]&& Close[i]< Open[i])
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  • #245
  • Jun 12, 2024 4:28pm Jun 12, 2024 4:28pm
Quoting d5400
{quote} Can you give your rules in code? Are these the rules that you are using: LONG: if(Close[i] > High[i+1] && Close[i+2] > Open[i+2] && Close[i+1] > Open[i+1] && Close[i+2] < Close[i+1] && Low[i] < High[i+2] && Close[i]> Open[i]) SHORT: if(Close[i] < Low[i+1]&&Close[i+2] < Open[i+2] && Close[i+1] < Open[i+1] &&Close[i+2] > Close[i+1] && High[i] > Low[i+2]&& Close[i]< Open[i])


if(Low[i] < High[i+2])// Don't continue
if(High[i] > High[i+1] && Close[i+2] > Open[i+2] && Close[i+1] > Open[i+1] && Close[i+2] < Close[i+1] && Low[i] < High[i+2] )
Attached File(s)
File Type: ex4 ##3CB.ex4   28 KB | 323 downloads
  • #246
  • Jun 12, 2024 10:52pm Jun 12, 2024 10:52pm
Quoting Asw
{quote} if(Low[i] < High[i+2])// Don't continue if(High[i] > High[i+1] && Close[i+2] > Open[i+2] && Close[i+1] > Open[i+1] && Close[i+2] < Close[i+1] && Low[i] < High[i+2] ) {file}
We need to anticipate what we want to happen. We want High[i] > High[i+1] to happen, but we need to prepare for it when Low[i] < High[i+2]. So let's draw the line when we see Low[i] < High[i+2].

Anyway, your condition describes three soldiers: three candles in one direction. There are other patterns for 3cb, and other lines that third candle bounces off, not just high/low. We'll get to that later.
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  • #247
  • Jun 12, 2024 11:48pm Jun 12, 2024 11:48pm
gj. do not know as prefer to happen during market open.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #248
  • Jun 13, 2024 2:44am Jun 13, 2024 2:44am
Quoting Inthebox
gj. do not know as prefer to happen during market open. {image}
gj long result.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #249
  • Jun 15, 2024 6:44am Jun 15, 2024 6:44am
The pairs i will be watching on Monday.


USDJPY - buy limit


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AUDUSD - sell limit
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GBPUSD- sell limit
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EURUSD- SELL limit
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EURCHF - SELL LIMIT
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GBPJPY - SELL LIMIT
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And there are others also...
Help to be helped.
  • #250
  • Edited 7:13am Jun 15, 2024 6:59am | Edited 7:13am
Quoting Lazar83
The pairs i will be watching on Monday. USDJPY - buy limit {image} AUDUSD - sell limit{image} GBPUSD- sell limit {image} EURUSD- SELL limit {image} EURCHF - SELL LIMIT {image} GBPJPY - SELL LIMIT {image} And there are others also...
The line has to be marked on the high or the low of the candle, not at the close. Obviously, if the spike is short, there is not so much difference, but a long spike does it.
  • #251
  • Jun 15, 2024 7:09am Jun 15, 2024 7:09am
gj potential buy.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #252
  • Jun 15, 2024 7:21am Jun 15, 2024 7:21am
Quoting flashpaul
{quote} The line has to be marked on the high or the low of the candle, not at the close. Obviously, if the spike is short, there is not so much difference, but a long spike does it.
Yes, if high/low is near the close, the price may want to go there, but if the wick is large, the price may not reach the close.
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  • #253
  • Jun 15, 2024 8:23am Jun 15, 2024 8:23am
Quoting Inthebox
gj potential buy. {image}
But you could have been short a couple of candles before, right?
Don't give up on your dreams. Keep sleeping.
  • #254
  • Jun 15, 2024 8:53am Jun 15, 2024 8:53am
Quoting Artcool
{quote} But you could have been short a couple of candles before, right?
1. i do not see any rejection candle in h1 to short.
2. if you short, you are not following the higher time frame direction.
ITB - Seeing Orderliness amongst 'Randomness'
  • #255
  • Jun 15, 2024 11:34am Jun 15, 2024 11:34am
Quoting Inthebox
{quote} 1. i do not see any rejection candle in h1 to short. 2. if you short, you are not following the higher time frame direction.
I am not sure. I see a short on the daily with the same system.
Don't give up on your dreams. Keep sleeping.
  • #256
  • Jun 15, 2024 11:45am Jun 15, 2024 11:45am
Quoting d5400
{quote} Yes, if high/low is near the close, the price may want to go there, but if the wick is large, the price may not reach the close.
Yes that's my logic if lets say difference between wick high or low and body close is 10 pips, i will put it on body close because ( insert here any reason you can think of, but in short its a magnet for price). I am still experimenting, but in case of JPY pairs i would love to put as much distance as possible, since they will eat my sl easily if its a a crazy day.

Just for the record bunch of orders this week didnt reach the body close but they reached the wick high or low, and i missed those opportunities, so FlashPaul has right, on the other hand i want this to be boring as much as possible methodology and i don't want to be in the trade all the time and i dont want to feel the adrenalin rush.
Help to be helped.
  • #257
  • Jun 15, 2024 12:37pm Jun 15, 2024 12:37pm
It should be interesting to follow these weekly opportunity in D1 and H4.
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  • #258
  • Jun 15, 2024 2:46pm Jun 15, 2024 2:46pm
Quoting Artcool
{quote} I am not sure. I see a short on the daily with the same system.
This system also suggests looking for a refinement entry along with higher timeframe direction. Although we see a break short on the daily, the source of that movement can be quite far up the candle. So I actually would look to go long to that level.
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  • #259
  • Jun 15, 2024 4:32pm Jun 15, 2024 4:32pm
Quoting d5400
{quote} This system also suggests looking for a refinement entry along with higher timeframe direction. Although we see a break short on the daily, the source of that movement can be quite far up the candle. So I actually would look to go long to that level. {image}
Although the long term trend on this pair is currently obvious, it's not often the case in Forex. I like to make sure setups applied mechanically have a positive expectancy, even a slight one, and then apply a bias on it. Otherwise, it would be one of those thousands and thousands of systems here with subjective rules, changed every day that gives negative expectancy in real trading in live accounts.
If we would have to apply the long term obvious bias, there would be no added value to a simple stochastic oscillator or a MA crossover.
Don't give up on your dreams. Keep sleeping.
  • #260
  • Jun 15, 2024 7:26pm Jun 15, 2024 7:26pm
Quoting Artcool
{quote} I am not sure. I see a short on the daily with the same system.
then if your set up comes from d1, then one has to become aware that it is counter trend trade, when compared to one or two time frames higher.
nothing wrong with that as long as one is aware of this situation of a lesser probability trade, and being consistent with your own trade set up.
ITB - Seeing Orderliness amongst 'Randomness'
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