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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #44,581
  • Sep 24, 2009 11:27pm Sep 24, 2009 11:27pm
Quoting mike w
You got that right about Merlin. I love going over posts that were from around 04-06. Do yourselves a favor and read through. Thanks Mike, I know what I'm doing early tomorrow morning now.
Can't even tell you how many hours I spent doing that! It was like christmas everyday. But a lot of them you can't even get to anymore since a few of the updates. You can't just do "search all posts" and get everything. I consider myself lucky to be here early enough to catch em!

Old FF was wayyyyyyyyy different
  • #44,582
  • Sep 24, 2009 11:28pm Sep 24, 2009 11:28pm
Explain the comparison and how exactly you would compare it and I can add it to the indicator.

Que

Quoting bundyraider
Hi Que,

Comparing the length of your signal bar with ATR can be a good filter. Otherwise you end up with a lot of very ordinary signals that just wake you up for jack.
Que
  • #44,583
  • Sep 24, 2009 11:32pm Sep 24, 2009 11:32pm
Quoting Que
Explain the comparison and how exactly you would compare it and I can add it to the indicator.

Que
What bundy is getting at is technically speaking the bar below is a pin. But you would have to be nutty to trade that small bar against the huge moves. So if you somehow designate that the pin needs to be X amount of size based on ATR. Or maybe something like you can input minimum amount of pips for each pair you do. So for example a 4hr bar on gbp/chf I might input minimum bar size = 100 pips. Then I could change it at will as I see a market tighten or expand.
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  • #44,584
  • Sep 24, 2009 11:35pm Sep 24, 2009 11:35pm
You might have noticed, but I like percentages as they are dynamic. Given your post, what if I did an option that said look x bars back (user config of course) and total pin size must be y percent (user config) minimum of any of those bars.

So in your example if you looked back 3 bars and said the pin must be at least 75% of the sixe of any of those bars, it would not trigger.

Que

Quoting mbqb11
What bundy is getting at is technically speaking the bar below is a pin. But you would have to be nutty to trade that small bar against the huge moves. So if you somehow designate that the pin needs to be X amount of size based on ATR. Or maybe something like you can input minimum amount of pips for each pair you do. So for example a 4hr bar on gbp/chf I might input minimum bar size = 100 pips. Then I could change it at will as I see a market tighten or expand.
Que
  • #44,585
  • Sep 24, 2009 11:43pm Sep 24, 2009 11:43pm
Quoting Que
So in your example if you looked back 3 bars and said the pin must be at least 75% of the sixe of any of those bars, it would not trigger.
*edit* comprehension fail. I cant read.

One way you might want to consider is to change it from 75% of any of the last x bar ranges to 75% of the average of the last x bar ranges.

Either way, this combined with push gmail is awesome. Cant wait for my gf to think I am having an affair because I keep getting mysterious messages every 4 hours

I am so glad there are people in here a hell of alot smarter than me that can do this stuff.
When you have to shoot, shoot. Dont talk.
  • #44,586
  • Sep 24, 2009 11:47pm Sep 24, 2009 11:47pm
Quoting Que
You might have noticed, but I like percentages as they are dynamic. Given your post, what if I did an option that said look x bars back (user config of course) and total pin size must be y percent (user config) minimum of any of those bars.

So in your example if you looked back 3 bars and said the pin must be at least 75% of the sixe of any of those bars, it would not trigger.

Que
I suppose either would work, I personally would probably prefer a pip input for the bar. But I know nothing about this programming stuff

Best
Mike
  • #44,587
  • Sep 24, 2009 11:48pm Sep 24, 2009 11:48pm
Ahhh, my bad.

ATR = Average.

Let me look to see if I can just implement ATR, may be easier...

Quoting joelcf
*edit* comprehension fail.

That's why something like ATR is good.

I imagine that the only change you would need to make is to change it from 75% of any of the last x bar ranges to 75% of the average of the last x bar ranges.

Either way, this combined with push gmail is awesome. I am so glad there are people in here a hell of alot smarter than me that can do this stuff.
Que
  • #44,588
  • Sep 24, 2009 11:52pm Sep 24, 2009 11:52pm
I can easily make it both.

if greater than x % of ATR or Pip amount, whichever is greater. If you want to specify a pip amount you put the % to 0. Because the pip amount will always be greater than 0% of the ATR.

Que

Quoting mbqb11
I suppose either would work, I personally would probably prefer a pip input for the bar. But I know nothing about this programming stuff

Best
Mike
Que
  • #44,589
  • Sep 24, 2009 11:56pm Sep 24, 2009 11:56pm
Quoting Que
I can easily make it both.

if greater than x % of ATR or Pip amount, whichever is greater. If you want to specify a pip amount you put the % to 0. Because the pip amount will always be greater than 0% of the ATR.

Que
You are talented
  • #44,590
  • Sep 25, 2009 12:12am Sep 25, 2009 12:12am
Profit Taking most likely
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  • #44,591
  • Sep 25, 2009 12:15am Sep 25, 2009 12:15am
PLEASE BETA THIS FOR ME!.... THIS IS THE UPDATED ONE!

Ok You have a few options here (As usual):

NosePercent:

This is the percent of the bar that must be above / below the open and close. I did some quick tests and found that 60 percent of the bar must be the nose looks good, so that is the default. Feel free to change it to your preference.

SpreadPercent:

This is the effectively how far apart the open and close can be from each other. Given bar sizes are different, I did it with a percent. This represents the percent of the total bar range. example. if it is set to 20 (Default) and the bar range is 100, then the open and close must be within 20 pips of each other.

PrevBarsToTrend:

This is how many past bars to trend. This allows for filtering on an actual reversal. Default is 2, but I think I like 3 better. If it is three, it means even if you have a pin, the three previously consecutive bars must have consecutively been higher than one another (for a short pin), the opposite for a long pin. Set to 0 if you do not want to use.

PipSizeValidationPips:

This is the minimum pip size you Pin mus be before it is determined valid. Put 0 here to disable.

ATRPeriod:

This is the ATR Period

PercentATR_Validation:

This is the percent of the the bar that must be larger than the ATR. example. If your bar range is 100, the ATR is 80 and you have it set to 75%, it will not activate. Set to 0 to deactivate.

The other options are alert options and self explanatory.

I would appreciate any and all feedback. Please test this for me.

Que

Damn, I forgot to version control it. Make sure you get the one attached to this post please.
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File Type: ex4 PA.ex4   6 KB | 578 downloads
Que
  • #44,592
  • Sep 25, 2009 12:28am Sep 25, 2009 12:28am
Quote
I would appreciate any and all feedback. Please test this for me.

Que

Damn, I forgot to version control it. Make sure you get the one attached to this post please.

I just tried it and it seems to work fine I like the color coded ticks in the indicator window signifying a long or short...nice work.
  • #44,593
  • Sep 25, 2009 12:30am Sep 25, 2009 12:30am
Awesome, More options in the second one if you want them.

Que

Quoting TC East
I just tried it and it seems to work fine I like the color coded ticks in the indicator window signifying a long or short...nice work.
Que
  • #44,594
  • Sep 25, 2009 12:51am Sep 25, 2009 12:51am
Quoting Dale
Profit Taking most likely
I would be taking some off the table at the 1.6000, if I haven't already Dale. And trail what's left on the table behind PPZ levels. (green lines is a Daily PPZ levels)
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Indicators show the past. Price Action "Indicates" the future.
  • #44,595
  • Edited 1:19am Sep 25, 2009 1:08am | Edited 1:19am
Quote
I would be taking some off the table at the 1.6000, if I haven't already

Yes, me also.

So there is a good chance others would do the same. I have used this idea to create a position long and have already taken profits off the table.

Good to hear from you Jarroo, I hope all is well with you.

Dale
  • #44,596
  • Sep 25, 2009 1:32am Sep 25, 2009 1:32am
Quoting Dale
Yes, me also.

So there is a good chance others would do the same. I have used this idea to create a position long and have already taken profits off the table.

Good to hear from you Jarroo, I hope all is well with you.

Dale
All is very well Dale, thanks.

I was wondering if this Weekly Double Inside Bar on the Eur/Gbp would have caught your attention. It did mine, but only after it broke nicely.
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Indicators show the past. Price Action "Indicates" the future.
  • #44,597
  • Sep 25, 2009 1:52am Sep 25, 2009 1:52am
Quote
I was wondering if this Weekly Double Inside Bar on the Eur/Gbp would have caught your attention.


Nice, I have only been watching the majors because of their liquidity, I think daily, weekly and monthly would be safe to trade and watch in the other pairs.


Dale
  • #44,598
  • Sep 25, 2009 1:56am Sep 25, 2009 1:56am
eeehhhhh....clear throat.

that didnt take long.

Quoting james16
mike is spot on.

could easily see 0800 but if it hits 0850 and turns dont let it kill you.

that first bar high at 0850 was an old great pin bar.

jim
  • #44,599
  • Sep 25, 2009 2:02am Sep 25, 2009 2:02am
Quoting Dale
Nice, I have only been watching the majors because of their liquidity, I think daily, weekly and monthly would be safe to trade and watch in the other pairs.


Dale
Thanks Dale.

I guess my question was do you look at higher time frames like the Weekly for the Double Inside Bar formation. I know you like the 4 hour.
Indicators show the past. Price Action "Indicates" the future.
  • #44,600
  • Sep 25, 2009 2:11am Sep 25, 2009 2:11am
Quoting rustyjeff
here is what I mean..
Thank You, Jeff, for Your detailed and kind answer!
NL
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