Simple Strategy With Inside Bars | Forex Factory

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Simple Strategy With Inside Bars

  • #1
  • First Post: Edited Dec 5, 2009 2:54am Apr 14, 2009 1:50am | Edited Dec 5, 2009 2:54am
Hello here is a really simple trading method with inside bars.

1- Ist candle is larger than 60-70 pips this could be different for various pairs.

2- 2nd candle forms an Inside Bar.

3-Now when price touch the upper bar line go short and when price touch the
lower bar go long.
  • #2
  • Apr 14, 2009 2:05am Apr 14, 2009 2:05am
Here is an Example.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf1h.gif Size: 15 KB
  • #3
  • Apr 14, 2009 2:08am Apr 14, 2009 2:08am
Here is the template and Indi.
Attached File(s)
File Type: mq4 H1H1_IB_Indicator.mq4   6 KB | 2,777 downloads
File Type: tpl ib.tpl   44 KB | 1,853 downloads
  • #4
  • Apr 14, 2009 2:25am Apr 14, 2009 2:25am
Any improvements, Suggetions are welcomed But try to keep it simple.
  • #5
  • Apr 14, 2009 2:30am Apr 14, 2009 2:30am
Exit would be end of the candle or upper lower barline.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf1h.gif Size: 16 KB
  • #6
  • Apr 14, 2009 2:31am Apr 14, 2009 2:31am
looks like EA can be done on this system.
  • #7
  • Apr 14, 2009 2:35am Apr 14, 2009 2:35am
Very Nice. Keep Going pls
BigBlackfeet Always on the(forex) war path !
  • #8
  • Apr 14, 2009 2:37am Apr 14, 2009 2:37am
Yes an EA would be really helpful.
  • #9
  • Apr 14, 2009 4:11am Apr 14, 2009 4:11am
trade coming in way.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp1h.gif Size: 13 KB
  • #10
  • Apr 14, 2009 4:21am Apr 14, 2009 4:21am
Another one
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 1h.gif Size: 14 KB
  • #11
  • Apr 14, 2009 7:34am Apr 14, 2009 7:34am
hi,
From my opinion this method is good for eu cause eu is not so volatile and we can guess the pip range. Meanwhile anyone here know which indicator is used to calculate the pip range for certain pair?
And also another question is there anyone know is it the ATR is used to calculate pip range if yes then how it calculate.
  • #12
  • Apr 14, 2009 8:43am Apr 14, 2009 8:43am
Any tips for exit strategy ?
  • #13
  • Apr 14, 2009 2:53pm Apr 14, 2009 2:53pm
Thank you Naser for sharing this system
I made visual back test, I found out that it could be used for higher TF, 4H, Daily and also weekly

For the exit strategy I suggest to open 2 trades the first takes 30 pips and the second is open after moving the stop to break-even
  • #14
  • Apr 14, 2009 5:12pm Apr 14, 2009 5:12pm
Hi Nasir,

How long have you been using this method and how many trades per week do you execute? What's your w/l ratio with the method and are you trading live?

Thanks,

Gray.
  • #15
  • Apr 14, 2009 9:41pm Apr 14, 2009 9:41pm
Can u plz explain bit more . I am not clear how many candles can be considered after indicator appears and price touches top or bottom of outside candle to enter into a trade . because sometimes price do touch ceiling or floor of indicator but that candle just keeps going and a new indicator appears on it.
  • #16
  • Apr 14, 2009 10:52pm Apr 14, 2009 10:52pm
Yes, in some ways you are going against the trend with this method. Please give us any backtesting results or win loss ratio, etc.
  • #17
  • Edited 11:16pm Apr 14, 2009 10:56pm | Edited 11:16pm
I think this is how it works but better make sure when the poster confirms or disagrees with this.

So we have a 50-60 pip setup bar(A), then an inside bar (B), then the trigger bar (C), the trigger bar (C) must touch either the top or bottom of the setup bar (A), if it touches the high we go SHORT if it touches the low we go LONG?

I am presuming that the trigger bar (C) MUST break the wick of the setup bar (A) and not simply the body of the candle?
Attached Image
Starting to see instead of just looking.
  • #18
  • Apr 14, 2009 11:15pm Apr 14, 2009 11:15pm
Quoting Dreamliner
Yes, in some ways you are going against the trend with this method. Please give us any backtesting results or win loss ratio, etc.
The trade could be both ways against or with the trend. If price is coming down Forms an IB 50-60 pips and touches the lower bar if u r not comfortable agianst the trend do not trade long but if touches the upper bar line go with the trend and short.
  • #19
  • Apr 14, 2009 11:18pm Apr 14, 2009 11:18pm
Quoting Rastaman
I think this is how it works but better make sure when the poster confirms or disagrees with this.

So we have a 50-60 pip setup bar(A), then an inside bar (B), then the trigger bar (C), the trigger bar (C) must touch either the top or bottom of the setup bar (A), if it touches the high we go SHORT if it touches the low we go LONG?

I am presuming that the trigger bar (C) MUST break the wick of the setup bar (A) and not simply the body of the candle?
You got it here is the perfect scenario.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf4h.gif Size: 15 KB
  • #20
  • Apr 15, 2009 12:05am Apr 15, 2009 12:05am
I am not so sure I have it now as this trade is confusing me.

You went LONG at the trigger bar (C) even though it did not reach the LOW of the setup bar (A)?

Does this mean, that the trigger bar (C) only has to break the low of the body of the setup candle (A) not the wick?
Attached Image
Starting to see instead of just looking.
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