james16 Chart Thread

Quoting mbqb11

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An I4B is simply when you have an inside bar that has a smaller range(high - low) then the previous 3 bars. Although you can have an I5B and I10B etc.

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Quoting NateTheGreat

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Hey guys, I havent posted in a while, but like many people here, I am constantly on these forums day and night soaking up all the information I can. I must say Ive learned more from forexfactory in 8 months than from anything else ive ever read, regarding forex anyway.

So anywho... I was hoping to ask you a couple questions mbqb, regarding the I4B. I pretty much knew what it was, but, for the example above, since it closed below that is a signal to go short and vice versa. Is that correct? Also, one more thing, you say that it just has to have a smaller range the previous 3 bars, but doesnt it also have to be "inside" the previous bar as well? Or is that just a better signal?

Thanks!

~Nate~

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Quoting moneybags

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Hi Nate,

I'll jump in here and try to answer the questions. (Mike can add his thoughts too)
The way the I4B is played is that you would go Short or Long depeding on how it's broken by price. So if price went below the I4B's low you would go Short and vice versa. But most people will have a bias on where they think price will head so will only play a break in that direction. (it's personal preference really. Some will put a BUY stop above the I4B and a SELL stop below)

And for your second question, yes it has to be inside the previous bar as well as having the smallest range of the previous 3 bars. If it's not inside the previous bar then it's not an I4B.

I hope that helps and makes sense.

Tom

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Quoting 2mas

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God, hesitated, then got greedy waited for another retrace... missed that train move ard 100 pips in half an hour...grrrrrrrr

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Quoting zzz

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Hi everyone,

I am another one jumping on the train.

Thank you all, guys, for your contribution here and especially Mike (mbqb) - I respect your attitude.

If anyone is interested, I finished reading all the thread and composed one relatively short Word document, and another big Power Point presentation with all the essential information from this thread (of course it is subjective – I filtered some stuff out). Almost everything is there. But the presentation is big – almost 190 slides and 10 meg when zipped. I found Power Point to be the best way to copy information from forums. I could probably post them somehow, if you want, although I don’t know how to post 10 meg files here.

I have a question: I live in a Mountain Time Zone, and when I am coming back from work the new daily candle is running for a couple of hours, which I don’t like.

Since I decided to trade based on daily mostly, I would like to find a broker that uses MT4 but starts new candle at around 20:00 EST, which is 18:00 of Mountain Time. Anyone has any idea? As far as I know, there is no way to adjust the time the daily candle starts; at least there is no simple way.

I tried FXDD, Northern Finance, and Strategybuilder. I need this broker for demo only, so I don’t really care how reliable money-wise they are. The more pairs, the better.

Thanks.

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Quoting SeekingLight

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You're not the only one who missed it. Different timezone made for different bars, but USDJPY had a PB on 4h this morning, too....shame.
Coulda been 50 for 25-30.

But yens are so thrashy lately :/

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Quoting zzz

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I could probably post them somehow, if you want, although I don’t know how to post 10 meg files here.

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Quoting jarcrocker

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I had seen in this thread as I was reading through it someone had an indicator that helped locate Inside bars. Does anyone know who that was or have it. I can't seem to find the posts I saw before. I'm trying to train myself to look for all these things,pin bars, ib4, dblhc, beouvbgsxz, Its a lot to take in. How do you guys do it? By the time I think I've found a good trade I find another reason not to take it. I'm trying to follow James guidlines of looking for reasons not to trade so I can find the best ones. Anyway, pin bars are easy to locate and the Outside engulfing bars or somewhat easy. But Dblhc and inside bars. Miss 'em every time!! Back to my difficulty, I can't find the indicator for IB's....... help please.

PS. Thanks for everything ya'll are doing. Us newbies to PA are very appreciative!!!

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Quoting mbqb11

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here are the files I located clicking the paperclip button on the James16 thread

PinI4Bbar AHA 0[1].1.mq4

PinI4Bbar AHA 0.1.mq4

I have NEVER used this indicator, so I can not tell you it's reliability.

Never the less here are the files,not sure which is the one you want

I highly recommend going through tons of charts and identifying bar by bar over and over on past data and labeling what they are. Soon it will become second nature.

Best,
Mike

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Quoting Wanderingwow

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Thx for the post Mike, say, how do you use the paperclip function, been looking for that but no luck yet.

"WOW"

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Quoting zzz

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Hi everyone,

I am another one jumping on the train.

Thank you all, guys, for your contribution here and especially Mike (mbqb) - I respect your attitude.

If anyone is interested, I finished reading all the thread and composed one relatively short Word document, and another big Power Point presentation with all the essential information from this thread (of course it is subjective – I filtered some stuff out). Almost everything is there. But the presentation is big – almost 190 slides and 10 meg when zipped. I found Power Point to be the best way to copy information from forums. I could probably post them somehow, if you want, although I don’t know how to post 10 meg files here.
.

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