Dance of the wick

Nice thread, GHBR! After watching the XAUUSD chart closely, it really seems that wicks are an especially strong confluence factor on Gold. Wicks are generally useful, but on XAUUSD they appear to work exceptionally well.

I recomend to trade first only really obvious setups like this one. Wait for signs of rejection and a rally inidcating buyers strenght. Then milk the test

Gold, we're making purchases and holding until 4563.00. After selling from 4556.78, we'll be trading at 4556.78.

Only scenario for trading middle of screen (continuation type resbecomes sup)

I know you said you only trade 1H —> 1m charts, but do you see the same setup being formed on other timeframes, like Daily —> 1H?

Same question for other symbols other than gold.

Lastly, how did you get a SL level of 30 pips? Experience or is there some maths involved based on movement?

No trades to share, can’t get the fucking gumps to survive lately lol but giving the M1 chart with H1 sync a test run on a tiny account the 11.2 pips are coming very easy. Only 1 loser over 10+ trades which was my own mistake. This is a great thread.

Ghbdr - solid thread - 3 q’s please

1
can you just confirm - a winning trade is one of the below

1. BE+1
2. you enter > get BE+1 in > runs onto target for 11.2 pips without coming back to take you out for BE+1
3. The 1/5 that you BE+1 that turns into a Gump

2
How many pips are you letting these go against you before you kill it
I’m between 40-60pips atm depending on how confident of the level I am - usually by 40 pips I know I’ve read it wrong

3
How many pips in profit before you move to BE+1?

I’m nearly there…i just need the risk framework to come to me that makes sense

Thanks in advance

I said in the first page. SL 30 pips , BE+1 at 11.2 profit

continuation

continuation type

been buying down here whenever the candles stopped in the area

yes mate. Nice level to milk

took a stab in the other direction

excuse me for messin with your sells

I share here the EA I programmed for this particular style with the help of the AI


This Expert Advisor (EA) is a semi-automatic and manual trading management assistant. Its main purpose is not to open trades on its own using a specific strategy, but to give you full control over your manual trades right from the chart using visual buttons, while automating your risk management (Stop Loss and Break Even) and protecting your account from overtrading.
Refer to the file named "EA_Manager_V7.mq4" when reviewing these functions and settings within MetaTrader 4.
1. On-Screen Button Panel (Visual Interface)
The EA draws a control panel with 6 buttons in the upper right corner of your chart. Each button executes an immediate action when clicked:

1. BUY (Cornflower Blue): Instantly opens a buy position using the default lot size and automatically applies the Stop Loss (if enabled).
2. SELL (Orange Red): Instantly opens a sell position using the default lot size and automatically applies the Stop Loss (if enabled).
3. BE (Green - Break Even): Manually moves the Stop Loss of all open positions on the current symbol to the entry price plus a small profit margin (Offset).
4. LC (Red - Loss Close): Instantly closes only the positions currently in negative profit on the current symbol. Winning trades remain open.
5. CB (Dodger Blue - Close Best/Smart): Smart individual close. It targets and closes the single position that currently has the lowest profit (either the one making the least money or the one losing the most).
6. CA (Yellow - Close All): Panic button. Instantly closes absolutely every open position on the current symbol.

2. Configuration Parameters (Inputs)
When you load "EA_Manager_V7.mq4" onto a chart, you will see the properties window. Here is the explanation for each input parameter:
--- Visual Settings (inf_0) ---

1. InpBtnWidth / InpBtnHeight (Default: 80 / 20): Controls the width and height of the panel buttons in pixels.
2. InpPosX / InpPosY (Default: 80 / 20): Controls the X and Y coordinates (offset distance) from the upper right corner.
3. InpSpacing (Default: 4): The vertical gap/spacing between the buttons.

--- Pip Multiplier (inf_calc) ---

1. InpPointMultiplier (Default: 10): A crucial setting to adapt the EA to 5-digit brokers. Setting this to 10 ensures that when you configure "10 pips", the EA processes it as 10 actual pips instead of 1 pip (10 points).

--- Break Even (inf_2) ---

1. InpAutoBE (True/False): When set to true, the EA automatically monitors every market tick to see if any position has reached the protection target.
2. InpBETrigger (Default: 10.0): The amount of pips in profit a trade needs to achieve before the EA moves its Stop Loss to Break Even.
3. InpBEOffset (Default: 2.0): The number of profit pips above/below the entry price where the new Stop Loss will be placed. This ensures you cover commissions or lock in a tiny profit.

--- Automatic SL (PERSISTENT) (inf_3) ---

1. InpAutoSL (True/False): When set to true, every trade opened (via the buttons or externally) will immediately receive an automatic Stop Loss. The EA enforces this persistently.
2. InpStopLossPips (Default: 30.0): The distance in pips at which your Stop Loss will be set from the entry price.

--- Overtrading Protection (inf_4) ---

1. InpEnableLimit (True/False): Enables or disables the account exposure protection against excessive active trades.
2. InpMaxTradesNoBE (Default: 3): The maximum number of open trades that are not yet protected by Break Even allowed simultaneously. If you exceed this limit, the EA will block new panel orders or close the unprotected trade.
3. InpDefaultLot (Default: 0.10): The volume/lot size applied whenever you open a trade using the BUY or SELL buttons.

--- Intelligent Partial Close (inf_5) ---

1. InpEnablePartial (True/False): Enables or disables the automatic partial profit-taking feature.
2. InpPartialTrigger (Default: 20.0): The profit target in pips required for the EA to trigger a partial close on a position.
3. InpPartialPercent (Default: 50.0): The percentage of the trade volume to close. Example: If you have a 0.10 lot trade and it hits +20 pips, the EA will close 50% (0.05 lots) and let the remaining 0.05 lots run. The script ensures this only happens once per order.

3. Special Features and Automations

1. Chart Junk Filter (CleanChartObjects): The EA includes a built-in background cleaner that automatically deletes the default arrow objects and text containing the # symbol that MetaTrader generates when opening or closing trades, keeping your chart clean.
2. On-Chart Status Comments: In the top-left corner of the chart, you will see real-time status messages. It will display "PROTECCION ACTIVA: Limite alcanzado." (Protection Active: Limit Reached) if you are blocked from trading, or "Gestion Activa - SL 30 pips" under normal operations.
3. Visual Button Lockout: If you hit your maximum allowed unprotected trades, the BUY and SELL buttons will automatically change color to Dark Slate Gray. This provides a clear visual cue that further manual trading is currently locked.

i forgive you and join you