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  • #741
  • Oct 17, 2008 12:18pm Oct 17, 2008 12:18pm
Hi folks: I loaded "breakout alert ex4 EA", #645 and got the text on the screen but no box. Do we then have to load "BoxBreakout.ex4, #644 to get the box and will they both work together. I couldn't get them to work, but that could be me. Hopefully this will clear it up for everyone.Jim
  • #742
  • Oct 17, 2008 12:26pm Oct 17, 2008 12:26pm
Hi: Follow up to previous post, loaded the indicator and ea, it works, but don't have stop loss line. If someone has a better way to get it to work, I'm all ears. This way will work, but it won't have the stop loss level. Any suggestions?Jim
  • #743
  • Oct 17, 2008 1:12pm Oct 17, 2008 1:12pm
the indicator and ea are independent of each other.
download the latest indicator from the first post of my journal. that version will display the stop loss. but remember, right now it gets displayed only if entry is hit. im working on another version that displays the stop line all the time.

Quoting bigjim1958
Hi: Follow up to previous post, loaded the indicator and ea, it works, but don't have stop loss line. If someone has a better way to get it to work, I'm all ears. This way will work, but it won't have the stop loss level. Any suggestions?Jim
  • #744
  • Oct 17, 2008 1:15pm Oct 17, 2008 1:15pm
the way i think and which is what i've coded on to the indicator is
a candle becomes a pullback candle (for long) if it either stops making new high or if its a bearish candle (close below open)

can other folks confirm this?



Quoting loophole
So my question is about the pullback candle. For a long trade,
can a candle be the pullback candle if it makes a higher high that the candle before it but closes lower than the candle before it if?
  • #745
  • Oct 17, 2008 1:23pm Oct 17, 2008 1:23pm
.EX4 is all metatrader needs for both indicator and ea. you need mq4 only if u are going to be modifying the code. i have several indicators for which i have only .ex4 file. Even Nomo posted a sessions indicator thats only .ex4.

Quoting nyachty
Cheelu,

Thanks for the advice but what you advise is something I have tried several times to make work. If this is an indicator it cannot work as a ex4. It runs as an EA. There seems to be alot of confusion about it need to be loaded. Are you running indicators or Ea's.

As I said before I have used Metatrader for many years and I'm always learning something new everyday but how you described the installation, as an indicator ex4, does not make sense. It needs to be complied normally to run as a mq4 to be an indicator.

I know I'm not the only one having problems understanding this?

Thank you
  • #746
  • Oct 17, 2008 1:25pm Oct 17, 2008 1:25pm
Hi Nomo,

I apologize that your great thread is clogged up with my posts about indicator. If you want we all can discuss about indicators and EAs in a seperate thread or my journal, so that this thread remains focussed on just trading.
  • #747
  • Oct 17, 2008 1:32pm Oct 17, 2008 1:32pm
Quoting cheelu
the way i think and which is what i've coded on to the indicator is
a candle becomes a pullback candle (for long) if it either stops making new high or if its a bearish candle (close below open)

can other folks confirm this?
I was under the impression that a candle is a breakout candle (for long) if it's a bearish candle only. If it doesn't make a new high, but doesn't close below open, that is not considered a pullback candle, nomo?Jim
  • #748
  • Oct 17, 2008 2:05pm Oct 17, 2008 2:05pm
Quoting bigjim1958
I was under the impression that a candle is a breakout candle (for long) if it's a bearish candle only. If it doesn't make a new high, but doesn't close below open, that is not considered a pullback candle, nomo?Jim
sorry I was out for some time.

You'll be better of thinking of price instead of a candle. If the market breaks the box, no matter how it closes, is a breakout. On that moment is where the play starts.

Pullback has many colors. You could have a pullback many periods AKA candles in a row or you could have a pullback just right at the next period. In my experience (many forward testing included) if you have a breakout candle (now we can talk candles) let's say bullish and the next candle retraces (please read this carefully) and closes bullish(same color at the breakout candle) but doesn't violate the high of the breakout candle, that tells me that the market is not done yet going up. Same for shorts.

I'll rather wait for a clear signal.


hope it helps
  • #749
  • Oct 17, 2008 2:22pm Oct 17, 2008 2:22pm
Nomo, still not clear on the pullback candle. Assume a long trade. If the pullback candle closes below the breakout candle, but did make a higher high
that the breakout candle, does it still qualify as a pullback candle because it closed lower than the breakout candle?
  • #750
  • Oct 17, 2008 2:28pm Oct 17, 2008 2:28pm
Quoting nomoretoxic
sorry I was out for some time.

You'll be better of thinking of price instead of a candle. If the market breaks the box, no matter how it closes, is a breakout. On that moment is where the play starts.

Pullback has many colors. You could have a pullback many periods AKA candles in a row or you could have a pullback just right at the next period. In my experience (many forward testing included) if you have a breakout candle (now we can talk candles) let's say bullish and the next candle retraces (please read this carefully) and closes bullish(same color at the breakout candle) but doesn't violate the high of the breakout candle, that tells me that the market is not done yet going up. Same for shorts.

I'll rather wait for a clear signal.


hope it helps
Sorry my bad: I meant to say that a candle is a PULLBACK candle only if it closes opposite of the direction of the breakout, sorry for that. Also if people could distinguish between the first breakout, when price first breaks the box and the second breakout, it might make it easier for people to understand. Or I'm the class dunce, and you can send me the dunce cap if you like. ThanksJim
  • #751
  • Oct 17, 2008 2:38pm Oct 17, 2008 2:38pm
Quoting loophole
Nomo, still not clear on the pullback candle. Assume a long trade. If the pullback candle closes below the breakout candle, but did make a higher high
that the breakout candle, does it still qualify as a pullback candle because it closed lower than the breakout candle?

yes definitely qualifies....if it closes lower than the breakout candle...
  • #752
  • Oct 17, 2008 7:07pm Oct 17, 2008 7:07pm
Hi Nomo,

I understand now. a bullish candle with lower high is not a pullback candle. But any kind of bearish candle is a pullback candle right?

can a candle be considered as pullback candle
if its a bearish candle with higher high


Quoting nomoretoxic
sorry I was out for some time.

You'll be better of thinking of price instead of a candle. If the market breaks the box, no matter how it closes, is a breakout. On that moment is where the play starts.

Pullback has many colors. You could have a pullback many periods AKA candles in a row or you could have a pullback just right at the next period. In my experience (many forward testing included) if you have a breakout candle (now we can talk candles) let's say bullish and the next candle retraces (please read this carefully) and closes bullish(same color at the breakout candle) but doesn't violate the high of the breakout candle, that tells me that the market is not done yet going up. Same for shorts.

I'll rather wait for a clear signal.


hope it helps
  • #753
  • Oct 18, 2008 12:39am Oct 18, 2008 12:39am
Quoting cheelu
Hi Nomo,

I understand now. a bullish candle with lower high is not a pullback candle. But any kind of bearish candle is a pullback candle right?

can a candle be considered as pullback candle
if its a bearish candle with higher high
Hi Nomo,
I think we're more confused as a group then when you first introduced your method. Any help would be greatly appreciated. This is a great system, just have to get all of us up to speed.

Jim
  • #754
  • Oct 18, 2008 5:43am Oct 18, 2008 5:43am
Quoting cheelu
Hi Nomo,

I understand now. a bullish candle with lower high is not a pullback candle. But any kind of bearish candle is a pullback candle right?

can a candle be considered as pullback candle
if its a bearish candle with higher high
[/quote]Hi Nomo,
I think we're more confused as a group then when you first introduced your method. Any help would be greatly appreciated. This is a great system, just have to get all of us up to speed.

Jim[/quote]

Ok here's some charts.
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  • #755
  • Oct 18, 2008 5:49am Oct 18, 2008 5:49am
Look at the charts.
Attached Image (click to enlarge)
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  • #756
  • Oct 18, 2008 6:07am Oct 18, 2008 6:07am
Quoting cheelu
Hi Nomo,

I understand now. a bullish candle with lower high is not a pullback candle. But any kind of bearish candle is a pullback candle right?

can a candle be considered as pullback candle
if its a bearish candle with higher high

As you see in the charts, a pullback could start in one candle, and then move many candles before coming back.

We could say that the next candle either bearish or bullish is a sign. Just to make our lives easier. But I don't want you guys to be on your toes because the following candles (after the initial pullback-candle) keeps retracing. This is why I said before that pullback has many colors.

Notice there's a bullish candle with a bullish low - still part of the whole move.
Attached Image (click to enlarge)
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  • #757
  • Oct 18, 2008 8:14am Oct 18, 2008 8:14am
Now for the easy part.

The reason I've been talking about cheelu's making my life easier, it's that you just have to follow the entry lines and place your stops/limits automatically . That way you won't have to over-think about your trades or how far-distant pullbacks are.
  • #758
  • Oct 18, 2008 8:45am Oct 18, 2008 8:45am
Cheelu

if you see this post, just do it at the next bar/candle - no biggie. I think will be better that way in order to create a code for the indi.

I just want to point out that people get all mixed up on counting how many candles they need to count for a pullback.

A pullback could have so many bars up to a point it could become a reversal...who knows???

You guys just need to focused on be in position in order to catch the follow-thru move...that's it..

hope it helps.
  • #759
  • Oct 18, 2008 8:49am Oct 18, 2008 8:49am
My results so far have been mixed. At times the volatility has help as in my 229 PIP GBPJPY trade. But the wild rides do play havoc at times.

Quoting nomoretoxic
Guys

Don't you think Asia session is somehow a lil' fast 'n wild for the box??

Moreover- erratic on high volatile pairs??
  • #760
  • Oct 18, 2008 8:59am Oct 18, 2008 8:59am
Quoting RRothschild
My results so far have been mixed. At times the volatility has help as in my 229 PIP GBPJPY trade. But the wild rides do play havoc at times.
well...I can see that.

So you're doing some sort of research on ASIA Session/ still to early to come up to a conclusion or do you think so far is worth to trade it???

Please advise.
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