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50 pips candle system

  • #221
  • Nov 26, 2009 2:17pm Nov 26, 2009 2:17pm
One more candle and 50 pips more : novembre = 150 pips
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  • #222
  • Nov 26, 2009 2:20pm Nov 26, 2009 2:20pm
Quoting zebulon
new candles : november = 100 pips

Zebulon,

Interesting concept. I will test with the last indi's and will let you know if I have some contributions. I was thinking that we could filter the results a bit if we use some Forex-101 concepts (i.e. Support, resistance, price action?)


Kostas.
  • #223
  • Nov 27, 2009 12:55am Nov 27, 2009 12:55am
volatility is back !

november = 250 pips
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  • #224
  • Nov 27, 2009 2:10am Nov 27, 2009 2:10am
1h later, 100 pips more !
november = 350 pips
  • #225
  • Nov 27, 2009 4:06am Nov 27, 2009 4:06am
Hi Zeb,
I have an idea, try to draw a 45° trendline and look how it is up down with 1 candle close out of trendline....

Lubo.
If I know how, I tell You!! Few but Good!!
  • #226
  • Edited 9:16am Nov 27, 2009 4:34am | Edited 9:16am
Counting this way for november are + 500 pips as min, could be more, depends on how many pips u getting out with the stoploss put to the low of previus bar.

Lubo.

Edit: i chaged the pips.
If I know how, I tell You!! Few but Good!!
  • #227
  • Nov 27, 2009 4:55am Nov 27, 2009 4:55am
Quoting LuboLabo
Hi Zeb,
I have an idea, try to draw a 45° trendline and look how it is up down with 1 candle close out of trendline....

Lubo.
Hi,

You're right !
this system is a different way to see the price. But you're wellcome to have your own money management or to play with trendlines and put a trailing stop
  • #228
  • Nov 27, 2009 5:02am Nov 27, 2009 5:02am
Quoting LuboLabo
Hi Zeb,
I have an idea, try to draw a 45° trendline and look how it is up down with 1 candle close out of trendline....

Lubo.
hi lubolabo, can you explain with a picture? thanks
  • #229
  • Nov 27, 2009 5:17am Nov 27, 2009 5:17am
Quoting Heral
hi lubolabo, can you explain with a picture? thanks
I have drawed it on a paper.
The concept is this, keep a paper with suqare box, every box is 50 pips, draw only the change in price on upper right or lower right the price changed and draw a 45° trendline every time the price change in the opposite way.
Go long or short after the first opposit is made and stop the trade when another opposit change in price is made.....and so on.
If I have time i'll try to post a pictures.

Lubo.
If I know how, I tell You!! Few but Good!!
  • #230
  • Nov 27, 2009 9:15am Nov 27, 2009 9:15am
Quoting LuboLabo
I have drawed it on a paper.
The concept is this, keep a paper with suqare box, every box is 50 pips, draw only the change in price on upper right or lower right the price changed and draw a 45° trendline every time the price change in the opposite way.
Go long or short after the first opposit is made and stop the trade when another opposit change in price is made.....and so on.
If I have time i'll try to post a pictures.

Lubo.

I think I have reinvented the renko chart.....
Counting the pips with the rules in previus post the pips was 500 and now 550, i'm sorry for the error, I have thought box was 100 pips .
Attached Image (click to enlarge)
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If I know how, I tell You!! Few but Good!!
  • #231
  • Nov 27, 2009 9:31am Nov 27, 2009 9:31am
The problem can be that you can be stopping out, with 50 pips SL, even if the candle close in the trend direction, look at wicks in the prev picture.
Lubo
If I know how, I tell You!! Few but Good!!
  • #232
  • Nov 27, 2009 3:19pm Nov 27, 2009 3:19pm
hi, GBP/USD is still alive !
November = 400 pips
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  • #233
  • Nov 27, 2009 7:01pm Nov 27, 2009 7:01pm
hi bro :

i jsut canot belive it works great !!!!!

but i have to ask u ;

1) do u trade in a live account ?

2) is my way correct ? when i see 2 candels with the same colur then i take the position with 50 tp and 50 sl ? is my correct ?

here is the pic if u can help me and answer me ,thanks.

best regards ,fadi safieh.
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  • #234
  • Nov 27, 2009 8:46pm Nov 27, 2009 8:46pm
Quoting LuboLabo
I think I have reinvented the renko chart.....
Counting the pips with the rules in previus post the pips was 500 and now 550, i'm sorry for the error, I have thought box was 100 pips .
Where did you get the Renko charts?
  • #235
  • Nov 27, 2009 9:01pm Nov 27, 2009 9:01pm
Very nice work..

I just skimmed this thread and I didn't see an indicator that outputs if its a "green" or "red" candle. However, after I saw that chart a couple posts up it opened my eyes on how easy it would be to just put horizontal lines every 50 pips.

I am definitely going to start drawing horizontal lines on my charts. Rated this thread 5 stars,
  • #236
  • Nov 27, 2009 9:14pm Nov 27, 2009 9:14pm
Quoting fxcatty
Very nice work..

I just skimmed this thread and I didn't see an indicator that outputs if its a "green" or "red" candle. However, after I saw that chart a couple posts up it opened my eyes on how easy it would be to just put horizontal lines every 50 pips.

I am definitely going to start drawing horizontal lines on my charts. Rated this thread 5 stars,

um, just use the indicator that I posted (and others have, too) a few posts up - its called sweetspotgold (plots horizontal lines) and pricechangechart (tells you whether its a red or green "candle").

Be aware that when Zebulon is talking about red or green candles, he is not talking about regular candles based on price - he is talking about arbitrarily drawn candles that are each 50 pips in size...which is why some people are using Renko charts (to see this easier than on a regular candlestick chart). This is exactly why this method is not based on any timeframe since it's based on 50 pip movements.

Make sense?
  • #237
  • Nov 27, 2009 11:17pm Nov 27, 2009 11:17pm
Here is a clean way of smoothing out the chatter,,,Go to your properties and eliminate all colors for the candles,,etc,,,,Now you will just see the 50 pip boxes,,,Nice! Also add a regular chart and place it next to your 50 pip box,,,,Then you can analyze your entries and exits,,,,,,Not sure if this what you guys are looking for ,,,But I thought it would be worth playing around with!,,,,
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  • #238
  • Nov 28, 2009 2:34am Nov 28, 2009 2:34am
Quoting fadi66
hi bro :

i jsut canot belive it works great !!!!!

but i have to ask u ;

1) do u trade in a live account ?

2) is my way correct ? when i see 2 candels with the same colur then i take the position with 50 tp and 50 sl ? is my correct ?

here is the pic if u can help me and answer me ,thanks.

best regards ,fadi safieh.
Yes you're right for trend movements !
  • #239
  • Edited 8:53am Nov 28, 2009 8:40am | Edited 8:53am
nice observation there.
but for this system.i think we have to at least check the prices every few hrs. cannot afford not to trade for a few days right? if not the wins and loses will not balance out.
am i right? so u always open limit order for the nxt set up when u start the current order?
what if when u go to slp and u miss a few wins? u continue to draw the lines and start from there?

i want to try ur system. seems quite interesting! thanks for sharing

anyway u said that if trending u going to put ur sl at 100pips. if u hit that sl wont u lose quite a bit of pips there? or its better to follow ur previous sl at 50pips. even if it hits its still not so pain. LOL.
  • #240
  • Nov 28, 2009 9:27am Nov 28, 2009 9:27am
Quoting Dreamliner
Where did you get the Renko charts?
Try some page back......on page 14..............
If I know how, I tell You!! Few but Good!!
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