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Third candle bounce

  • #281
  • Jun 18, 2024 12:14am Jun 18, 2024 12:14am
Quoting okrim
{quote} I am monitoring 15 minutes tf indeed, now the price is ranging sitting on the level of the 2nd candle high, it would be interesting to see the price going lower piercing that level for a bouncing up, that could be an opportunity to go long, right? Amazing, it ls like a sniper Okrim {image}
you mentioned sniper. what is his main job? wait with patience.
wait for price to come to you, not chasing price.
analogy is a crocodile waiting under water for those thirsty preys to come to the river to have a drink
some times prey not thirsty hahaha.
ITB - Seeing Orderliness amongst 'Randomness'
  • #282
  • Jun 18, 2024 12:24am Jun 18, 2024 12:24am
Quoting fxpider
{quote} Well, a fake-out move could also be a possibility.
when situations have more things stacking in your favor, just take the plunge if your method back you up with success three quarter of the time. one quarter of the time hitting SL.
things like htf direction, ltf pattern appears, following the rules, time with market open (choice of entry: during market session is conservative, outside is considered aggressive).
ITB - Seeing Orderliness amongst 'Randomness'
  • #283
  • Jun 18, 2024 12:27am Jun 18, 2024 12:27am
Quoting okrim
{quote} I am monitoring 15 minutes tf indeed, now the price is ranging sitting on the level of the 2nd candle high, it would be interesting to see the price going lower piercing that level for a bouncing up, that could be an opportunity to go long, right? Amazing, it ls like a sniper Okrim {image}
your m15 triggered trade.
i trade the mtf engulfing method.
there is not much difference with the one in this thread.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #284
  • Jun 18, 2024 1:05am Jun 18, 2024 1:05am
Quoting Inthebox
{quote} your m15 triggered trade. i trade the mtf engulfing method. there is not much difference with the one in this thread. {image}
Are you already in? If so, which is your entry point?
Thanks!
  • #285
  • Jun 18, 2024 1:09am Jun 18, 2024 1:09am
Quoting okrim
{quote} Are you already in? If so, which is your entry point? Thanks!
yes. using many methods, including this one here.
will show after TP.
ITB - Seeing Orderliness amongst 'Randomness'
  • #286
  • Jun 18, 2024 2:02am Jun 18, 2024 2:02am
Just an example, i attatch GBPCHF 4hr TF, here we have a nice setup, right?
On 15 minute TF we see the price is finding resistance right at the level of the low of the second 4hr candle. Here could be a good point for open a sell trade?

Thanks!
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  • #287
  • Jun 18, 2024 2:31am Jun 18, 2024 2:31am
Quoting Inthebox
{quote} your m15 triggered trade. i trade the mtf engulfing method. there is not much difference with the one in this thread. {image}
m15 set up
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ITB - Seeing Orderliness amongst 'Randomness'
  • #288
  • Jun 18, 2024 6:07am Jun 18, 2024 6:07am
EURUSD 4hr TF
we have the third candle bouncing right now
I have entered based on 15m TF because the price is breaking the low of the second candle.
Let me know if i am right or wrong, thanks!
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  • #289
  • Jun 18, 2024 6:16am Jun 18, 2024 6:16am
Quoting Lazar83
{quote} Hi David, The entry was as described on the first page, the only difference was that i ignored setups if the wick of the first candle covered the second candle, and if the difference of the body and the wick was less then 15 pips on average i would place limit order on the closing of the first candle. But these were the small changes, all in all keep the rules from the first page as guidance. Everything else will come with practice and previous experience. The idea was to have mechanical system with minimum 2:1 ratio, and simple set and...
Hi, i coded the same EA and there is the result i have (2023/01/01 - Today) EURUSD Daily
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  • #290
  • Jun 18, 2024 12:23pm Jun 18, 2024 12:23pm
There is also my result with this system on GBPUSD Daily
(2023/01/01 - Today)

You can find the EA i've made here if you want to test by yourself.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture d’écran 2024-06-18 à 19.23.27.png Size: 13 KB
Attached File(s)
File Type: mq4 zeze.mq4   16 KB | 236 downloads
  • #291
  • Edited 3:21pm Jun 18, 2024 2:31pm | Edited 3:21pm
Hi David, this is my manual simulator results for the period of February 2023 till the February 2024 for EURUSD. Its similar to your results, and the only difference is in exits i think, and that makes a huge difference.
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Its very hard to code the ea for these type of strategies since, although my aim is to be mechanical 100%, i am tempted to close trades earlier, or simply ignore some signal because i dont like how the candle looks like on weekly.

For example this is my manual demo testing's in last 2 weeks(7 trading days) on all pairs i can see, with as much as possible realistic trading, or the ones which would mimic my live account. My full focus is on DD, and fixed risk of 0.5% per trade.
Attached Image (click to enlarge)
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I will test your ea, but can you summarize the entry logic, and maybe we can collectivly improve it at least for entries.
Help to be helped.
  • #292
  • Jun 18, 2024 3:14pm Jun 18, 2024 3:14pm
Quoting david79454
{quote} Hi, i coded the same EA and there is the result i have (2023/01/01 - Today) EURUSD Daily {image}
Hi,

What are the settings for this EA regarding money management? Is it coded with a set-and-forget approach?

I'd like to see the results of making this strategy as mechanical as possible, setting a RRR of 1:2 and taking the entries the simplest way.
He bought? Dump it!
  • #293
  • Edited 3:31pm Jun 18, 2024 3:16pm | Edited 3:31pm
Regarding your ea, for now i can make 3 suggestions for now:
1. If trade is positive close at the end of DAY / input must be selectable. This way we can kill the order if it doesn't go anywhere.
2. Please check entry logic since i see on some cases that the first candle is bearish, second is bullish and the trade is open buy as per rules, or vice versa.
First 2 candles should follow rules, 2 bearish, we wait for the pullback on the third on to enter sell as per rules, or 2 bullish and we wait for pullback after which we can enter the buy. (please note that i am trading with limit orders in order to avoid spread/slippage)
For example first candle bearish, second bullish, trade shouldn't be placed.
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3. Risk must be 0.5%, this option should be unlocked for manual input.

My test results are bellow, and they are good as far as i can see , result wise, but i am not sure if the entry logic is correct.
All in all good work for a alpha version.

EURUSD 2020.02.01- 2024.06.18

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GBPUSD 2020.02.01- 2024.06.18
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Help to be helped.
  • #294
  • Jun 18, 2024 3:33pm Jun 18, 2024 3:33pm
Quoting Lazar83
Regarding your ea, for now i can make 3 suggestions for now: 1. If trade is positive close at the end of DAY / input must be selectable. This way we can kill the order if it doesn't go anywhere. 2. Please check entry logic since i see on some cases that the first candle is bearish, second is bullish and the trade is open buy as per rules, or vice versa. First 2 candles should follow rules, 2 bearish, we wait for the pullback on the third on to enter sell as per rules, or 2 bullish and we wait for pullback after which we can enter the buy. (please...

i appreciate your feed-back, I will add your option tomorrow and send it back here.

did you use my ea in the last image you sent to achieve this result ? If yes can you tell me wich broker do you use to check the data ?
  • #295
  • Jun 18, 2024 3:39pm Jun 18, 2024 3:39pm
No problem David, i used D1 for testing your EA on the last 2 pictures in my post , Darwinex broker, not a best solution but conservative as hell, so it keeps me on the safe path.
Just to be on the same page here is a template i am using for candle coloring ,found it here somewhere on the forum thread.

PS. I have a tendency to simplify things, maybe D5400 could add more useful inputs, since i am aware that this is very hard to code , developer, trader expectation wise.
Attached File(s)
File Type: zip !! Recent Candles.zip   < 1 KB | 290 downloads
Help to be helped.
  • #296
  • Jun 18, 2024 4:42pm Jun 18, 2024 4:42pm
Quoting Lazar83
No problem David, i used D1 for testing your EA on the last 2 pictures in my post , Darwinex broker, not a best solution but conservative as hell, so it keeps me on the safe path. Just to be on the same page here is a template i am using for candle coloring ,found it here somewhere on the forum thread. PS. I have a tendency to simplify things, maybe D5400 could add more useful inputs, since i am aware that this is very hard to code , developer, trader expectation wise. {file}
Nice results on a conservative timeframe. Looking forward to zeze progress.
1.02^200
  • #297
  • Jun 19, 2024 7:46am Jun 19, 2024 7:46am
Quoting Lazar83
Regarding your ea, for now i can make 3 suggestions for now: 1. If trade is positive close at the end of DAY / input must be selectable. This way we can kill the order if it doesn't go anywhere. 2. Please check entry logic since i see on some cases that the first candle is bearish, second is bullish and the trade is open buy as per rules, or vice versa. First 2 candles should follow rules, 2 bearish, we wait for the pullback on the third on to enter sell as per rules, or 2 bullish and we wait for pullback after which we can enter the buy. (please...

This looks great - I understand how you do your entry, but what about stoploss placement? Is it below 1 or 2 candle?
And do you have a fixed take profit or and end of day take profit?
  • #298
  • Jun 19, 2024 1:51pm Jun 19, 2024 1:51pm
Quoting Lazar83
No problem David, i used D1 for testing your EA on the last 2 pictures in my post , Darwinex broker, not a best solution but conservative as hell, so it keeps me on the safe path. Just to be on the same page here is a template i am using for candle coloring ,found it here somewhere on the forum thread. PS. I have a tendency to simplify things, maybe D5400 could add more useful inputs, since i am aware that this is very hard to code , developer, trader expectation wise. {file}
There is a V2.

I have changed the trade opening condition to open a trade only if the previous two candles are of the same color. I have also added the option to manually choose the risk.

For the 1. point you mentioned, I disagree. I will try to code it anyway, but I think it is unnecessary to close the trade if it is positive at the end of the day because those are usually the ones that hit the TP, unlike the others. So, I think it would be counterproductive and detrimental to profitability.

This ea use the logic behind the Flash setup mentionned in First page. EA only take the trade when price retrace to n-2 candle high and break n-1 candle high (for a buy)
Attached File(s)
File Type: mq4 zeze.V2.mq4   17 KB | 174 downloads
  • #299
  • Jun 19, 2024 2:00pm Jun 19, 2024 2:00pm
There is the V3 with the condition "true or false" if true, EA will close the trade at the end of the day if it's profitable, and don't wait till TP
Attached File(s)
File Type: mq4 zeze.V3.mq4   20 KB | 278 downloads
  • #300
  • Jun 19, 2024 2:09pm Jun 19, 2024 2:09pm
Result of zezeV2 2020.01.01 till today
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