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Consecutive Candles with Volume

  • #21
  • Feb 12, 2025 4:55pm Feb 12, 2025 4:55pm
SO...here we go. This is my group of charts that I will be testing on. Wish me luck...
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  • #22
  • Feb 13, 2025 5:05pm Feb 13, 2025 5:05pm
1st trades on copper and gold

SL would be just under the wicks of the last few candles...
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  • #23
  • Edited 10:56pm Feb 14, 2025 4:13pm | Edited 10:56pm
Here is a refresher video describing the rules again. I randomly picked USDSGD and went back 1 year...Enjoy!

Inserted Video
  • #24
  • Edited Feb 15, 2025 10:40am Feb 14, 2025 10:56pm | Edited Feb 15, 2025 10:40am
I just went through all the trades in the video and took them with 1:2 risk/reward and came out with 20 losers (-20R) and 17 winners (+34R) with a total of +14R.
So on this single pair, in one year, using the following % of a $5000.00 account per trade you get...
2% - $1400.00
5% - $3500.00
10%- $7000.00
Not sure if this is of any interest to anyone but it does show that we now have 3 different ways to close these trades and come up in profit every time.

We can close a trade when a new trade appears and close the last trade on the exit signal...we can close all trades on the exit signal...or we can ignore exit signals and use SL and TP with 1:2 risk/reward...all of which are profitable.

Encouraging...
  • #25
  • Feb 15, 2025 10:39am Feb 15, 2025 10:39am
I looked at the trades again (this is an ongoing process...as we all know LOL) with the idea of moving to breakeven at 1:1 and found 8 losing trades that would have closed at BE, no winning trades were hit at BE. Consequently the RR is higher. The new RR is 20 losers with 8 closing on BE (-12R) and 17 winners all closing in profit (+34R) with a total of +22R

So using the same % of $5000.00 account we can see the difference in profit this makes.
2% - $2200.00
5% - $5500.00
10% - $11000.00

Much more appetizing...
  • #26
  • Feb 15, 2025 10:52am Feb 15, 2025 10:52am
I have been wondering how the automation would work in an EA. The process of setting trades is the easy part and closing trades, with either method discussed above, is also straight forward. The hard part would always be a SL placement...I am thinking that there would need to be a user input of number of pips for each pair (for example on the USDSGD chart, in the last video) maybe 60 pips minimum would work, alternatively maybe ATR would be more efficient. Along with this user input there would be a parameter where the MAs or the dots would be an option if the ATR or the user input is not desirable.

If anyone has any ideas on this, as I think it is key to the success, it would be appreciated.

Thanks, Chris.
  • #27
  • Feb 15, 2025 10:59am Feb 15, 2025 10:59am
Quoting cfudge
I have been wondering how the automation would work in an EA. The process of setting trades is the easy part and closing trades, with either method discussed above, is also straight forward. The hard part would always be a SL placement...I am thinking that there would need to be a user input of number of pips for each pair (for example on the USDSGD chart, in the last video) maybe 60 pips minimum would work, alternatively maybe ATR would be more efficient. Along with this user input there would be a parameter where the MAs or the dots would be an...
As you mentioned, SL placement based on ATR% or ADR% would be ideal and user just need to input the % value in the settings
  • #28
  • Feb 17, 2025 8:17pm Feb 17, 2025 8:17pm
Here are the rules for an EA.
anyone following this system please take a look and see what you think.
If you see any glaring mistake or something missing please mention it here.
Thanks, Chris.

Rules for new EA

The indicators on chart are;

-- Consecutive Candles . (default settings)
-- Volume and Volatility. (default settings)
-- 21 Moving avg. Set to exponential and close. (allow user inputs)
-- 9 Moving avg. Set to exponential and close. (allow user inputs)

Entry rules;

-- When the Consecutive Candle indicator prints a candle with a green/red arrow and a dot or a candle with only a dot that is first stage of trade confirmation.

-- The second confirmation is a green/yellow bar in the Volume and Volatility indicator…no bar no trade…

-- The third confirmation has to have the 9EMA above the 21EMA for a buy and 9EMA below the 21EMA for a sell.

-- A trade is opened every time the above confirmation happens.

Trade Management;

-- A trade, once opened, needs to have a SL. This would be a user input in pips in % of acct. or $ amount. Or ATR (user input for ATR candle count)

-- The Exit Signal is a candle with a green/red arrow with a dot or a candle with just a dot and there is no bar in the Volume and Volatility indicator.

-- A trade closes one of three ways…1/SL hit 2/Exit Signal candle prints 3/on close of a new candle that opens a new trade. The last 2 options would be user choice.
Attached File(s)
File Type: docx Rules for new EA.docx   11 KB | 235 downloads
  • #29
  • Feb 17, 2025 8:54pm Feb 17, 2025 8:54pm
Want to try to on TradingView, what's the logic of the consecutive candle indicator?
  • #30
  • Feb 17, 2025 9:49pm Feb 17, 2025 9:49pm
Quoting MachineLearn
Want to try to on TradingView, what's the logic of the consecutive candle indicator?
Search this thread
My last Humble Request
In Platform tech
https://www.forexfactory.com/thread/...humble-request
  • #31
  • Feb 17, 2025 10:52pm Feb 17, 2025 10:52pm
Just found this in "My Last Humble Request" thread...many props to IceRice...champion coder.

1.02 is the same version I am using here 1.04 has 1 extra option (evades me right now what it is)

Attached File(s)
File Type: mq5 consecutive candles 1_02.mq5   6 KB | 273 downloads

Attached File(s)
File Type: mq5 consecutive candles 1_04.mq5   11 KB | 284 downloads
  • #32
  • Edited 6:59pm Feb 19, 2025 6:23pm | Edited 6:59pm
There is a hell of a lot of downloading going on from the indicators on this site...anybody want to present something...some show and tell?????LOL
  • #33
  • Edited 5:25pm Feb 20, 2025 5:10pm | Edited 5:25pm
My XAUUSD trade has closed the other day on the exit signal...Copper trade still open.

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  • #34
  • Feb 20, 2025 5:53pm Feb 20, 2025 5:53pm
If someone could code a tradingview version and ID love to test and comment
  • #35
  • Feb 25, 2025 5:47pm Feb 25, 2025 5:47pm
Here are some trade updates (Daily charts).

I got in on 2 today, missed some others. I am working and miss entries on the daily by the time I get home.

There ia someone working on an EA ...stay tuned.

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Chris
  • #36
  • Feb 27, 2025 5:24am Feb 27, 2025 5:24am
Here my setup, seem to have a good trade. Will see further more
Attached Image(s) (click to enlarge)
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  • #37
  • Feb 27, 2025 6:31am Feb 27, 2025 6:31am
Quoting cfudge
2389 pips over 11 trades since the 9th 0f January 2025 to today. {image}
Just an uptrend.
MashineLearn asked you a real question: what is the concept? Not a video or numbers. System logic: entry, SL, TP - based on what?

Quoting adrilyss
seem to have a good trade
How is it seem if you don't set any stops or targets to calc any RR, WR or even think about MM?

Quoting cfudge
There is a hell of a lot of downloading going on from the indicators on this site...anybody want to present something...some show and tell?????LOL
What can we tell if we still eat the "Mistery of the arrows"?)))
Just an opinion. Based on research
  • #38
  • Feb 27, 2025 8:47am Feb 27, 2025 8:47am
Quoting adrilyss
Here my setup, seem to have a good trade. Will see further more {image} {image} {image}
Thanks for the input showing your trades. while these trades look promising and may bring profit they are not trades according to the rules. Namely the EMAs are not in agreement.

Chris
  • #39
  • Feb 27, 2025 8:49am Feb 27, 2025 8:49am
Quoting since80808
{quote} Just an uptrend. MashineLearn asked you a real question: what is the concept? Not a video or numbers. System logic: entry, SL, TP - based on what? {quote} How is it seem if you don't set any stops or targets to calc any RR, WR or even think about MM? {quote} What can we tell if we still eat the "Mistery of the arrows"?)))
You have been here long enough to figure this "mystery" out ...all the info for what you accuse me of not supplying is here on this thread.

Chris
Here is the first clue...2nd post on the link I gave you...

If you take a look at rpasupathy`s pic and make "sell candles" go like : Lower high than previous candles high and lower close than prev. candles low, alert triggers.

"Buy candles" like this : Higher high than previous candles high and higher close than prev. candles high, alert triggers.
  • #40
  • Feb 27, 2025 1:35pm Feb 27, 2025 1:35pm
Quoting cfudge
{quote} You have been here long enough to figure this "mystery" out ...all the info for what you accuse me of not supplying is here on this thread. Chris Here is the first clue...2nd post on the link I gave you... If you take a look at rpasupathy`s pic and make "sell candles" go like : Lower high than previous candles high and lower close than prev. candles low, alert triggers. "Buy candles" like this : Higher high than previous candles high and higher close than prev. candles high, alert triggers.
Ok, I see I missed a lot - my wrong.
All the best to the progress of this sys - I subscribe and try to test and feedback
Just an opinion. Based on research
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