Hello all.
I have a system I am working on. It involves reading candlesticks and fractals.
Heres how it works:
- Trade only H1 charts.
- Trades only last for 1 Hour. Close it whether its in profit or not.
- Trade only big movers (G/J & E/J) [For now]
- For LONG entries: The candle has a LOWER LOW than the previous candle, and the "body" closes in the UPPER HALF of the bar.
- For SHORT entries: The candle has a HIGHER HIGH than the previous candle, and the "body" closes in the LOWER of the bar.
- If the previous or current candle has a HIGHER HIGH and a LOWER LOW, no trade is taken.
Now the debacle here is this:
I do not look at every single candlestick and place trades using the above rules. I look for a fractal to appear on the close of that candle, then use the strategy stated above. The problem I ran into (and I didn't know this at the time) is Fractals repaint, disappear, and severely lag. And let me tell you, if this weren't the case, this system would net you 400-700+ pips a week. EASILY.
So my goal now is to find a better (non-lagging, non-repainting, or non-disappearing, or whatever you wanna call it) fractal indicator, or similar indicator.
Now that I know how fractals work, or at least I think I now know, that finding a non-lagging fractal indicator is near impossible. From what I understand, having it not lag, defeats the purpose.
So here Is my proposition to you my good folks:
Lets try to find and share an indicator we can use to replace this fractal indicator. If we can find one that doesn't lag, etc... Then this could be one of the best systems in history to hit this forum.
Attached is a screenshot of what your chart should look like (with the fractal indicators attached).
PS: Don't mean to confuse anyone with the colors of the text and lines on the pic. Some are blue some are green, it doesn't matter. I just forgot to keep the colors the same as the text and lines! lol
I have a system I am working on. It involves reading candlesticks and fractals.
Heres how it works:
- Trade only H1 charts.
- Trades only last for 1 Hour. Close it whether its in profit or not.
- Trade only big movers (G/J & E/J) [For now]
- For LONG entries: The candle has a LOWER LOW than the previous candle, and the "body" closes in the UPPER HALF of the bar.
- For SHORT entries: The candle has a HIGHER HIGH than the previous candle, and the "body" closes in the LOWER of the bar.
- If the previous or current candle has a HIGHER HIGH and a LOWER LOW, no trade is taken.
Now the debacle here is this:
I do not look at every single candlestick and place trades using the above rules. I look for a fractal to appear on the close of that candle, then use the strategy stated above. The problem I ran into (and I didn't know this at the time) is Fractals repaint, disappear, and severely lag. And let me tell you, if this weren't the case, this system would net you 400-700+ pips a week. EASILY.
So my goal now is to find a better (non-lagging, non-repainting, or non-disappearing, or whatever you wanna call it) fractal indicator, or similar indicator.
Now that I know how fractals work, or at least I think I now know, that finding a non-lagging fractal indicator is near impossible. From what I understand, having it not lag, defeats the purpose.
So here Is my proposition to you my good folks:
Lets try to find and share an indicator we can use to replace this fractal indicator. If we can find one that doesn't lag, etc... Then this could be one of the best systems in history to hit this forum.
Attached is a screenshot of what your chart should look like (with the fractal indicators attached).
PS: Don't mean to confuse anyone with the colors of the text and lines on the pic. Some are blue some are green, it doesn't matter. I just forgot to keep the colors the same as the text and lines! lol