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Weekly charts using wicks

  • #21
  • Oct 9, 2024 8:17am Oct 9, 2024 8:17am
Quoting jamesagnew
here is a live trade on usdcad {image}
sir your sl really big
  • #22
  • Oct 9, 2024 9:04am Oct 9, 2024 9:04am
stop loss 250 pips

take profit 750

exit on revere trade

2 candles in a row exit
  • #23
  • Oct 9, 2024 9:11am Oct 9, 2024 9:11am
Quoting majidmas
{quote} sir your sl really big
if you use the correct pip value pips dont matter

its $
  • #24
  • Oct 9, 2024 9:37am Oct 9, 2024 9:37am
Hmmm ...
If exit criteria is 2 candles of another color
but entry criteria is just 1 candle of another color,
then how to avoid (filter?) situations like this?
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Just an opinion. Based on research
  • #25
  • Oct 9, 2024 11:57am Oct 9, 2024 11:57am
Quoting jamesagnew
{quote} if you use the correct pip value pips dont matter its $
can you send more examples
  • #26
  • Oct 9, 2024 12:31pm Oct 9, 2024 12:31pm
If you dont understand by now then i give up lol
Attached Image (click to enlarge)
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  • #27
  • Oct 9, 2024 12:35pm Oct 9, 2024 12:35pm
It's correct?
Attached Image (click to enlarge)
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  • #28
  • Oct 9, 2024 12:37pm Oct 9, 2024 12:37pm
But it's incorrect
Why
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  • #29
  • Oct 9, 2024 1:05pm Oct 9, 2024 1:05pm
Quoting gringo2019
Screenprint defines the Indicators and the Template is also attached. {image} {file} {file} {file} {file} {file}
Hi @ gringo2019, please help me to understand the parameters :

what is " displaywickdistance " , "upper wick limit" . I'm getting confused. A pick with labels would help much

Thanks !!
Attached Image (click to enlarge)
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merda taurorum animas conturbit
  • #30
  • Oct 9, 2024 1:45pm Oct 9, 2024 1:45pm
set the numners to 40 , all of them
  • #31
  • Oct 9, 2024 4:32pm Oct 9, 2024 4:32pm
Quoting jamesagnew
If you dont understand by now then i give up lol {image}
you havent explained anything yet!! Why did you create a thread when you have no intention of sharing anything?
  • #32
  • Oct 9, 2024 4:38pm Oct 9, 2024 4:38pm
Quoting savvashad
{quote} you havent explained anything yet!! Why did you create a thread when you have no intention of sharing anything?

ffs

the entry is when there is a down candle with a number below the a green candle colour change enter long
  • #33
  • Oct 9, 2024 4:42pm Oct 9, 2024 4:42pm
Quoting jamesagnew
{quote} ffs the entry is when there is a down candle with a number below the a green candle colour change enter long
enter long when the new candle closes? Enter long when the candle is in play?? What if candle changes color? Stop loss and take profit?
  • #34
  • Oct 9, 2024 4:44pm Oct 9, 2024 4:44pm
After further studying the exit should be 3 lower closes if buying or 3 higher closes when selling

target is still 750 pips

but you might take a loss of maximum 250 pips or exit in the 3 reverse candles
  • #35
  • Oct 9, 2024 4:51pm Oct 9, 2024 4:51pm
Quoting jamesagnew
After further studying the exit should be 3 lower closes if buying or 3 higher closes when selling target is still 750 pips but you might take a loss of maximum 250 pips or exit in the 3 reverse candles
thank you! How did you determine the distance of the wick? I mean why 40 and not 50,60,70?
  • #36
  • Oct 9, 2024 4:55pm Oct 9, 2024 4:55pm
why 40 ?

why not lol
  • #37
  • Oct 9, 2024 5:09pm Oct 9, 2024 5:09pm
Quoting jamesagnew
why 40 ? why not lol
i mean is there any reason? This conclusion is based on any data, backtest results or something?
  • #38
  • Oct 9, 2024 5:39pm Oct 9, 2024 5:39pm
Gents,
If you the weekly TF, the settings do NOT have any impact except for the distance setting of the wick text.
See screenprint.
Attached Image (click to enlarge)
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  • #39
  • Oct 9, 2024 7:13pm Oct 9, 2024 7:13pm
Okay to bend the 50% of wick rule, I guess.

Also, color change entry seems way too late.

May as well just look for weekly break outs IMHO.

Good Luck, you need it.

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It takes a lot for me to IGNORE you, but you can try.
  • #40
  • Oct 11, 2024 2:34am Oct 11, 2024 2:34am
Quoting savvashad
{quote} i mean is there any reason? This conclusion is based on any data, backtest results or something?
And let me add: why 750|250?
And: 750 on which pair?
Just an opinion. Based on research
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