50 pips candle system | Page 36 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MT4 candle-by-candle manual backtesting 9 replies

How to make EA that send Open Price of Candle for every new candle 5 replies

Day's first H4 candle correlation to daily candle 14 replies

Correlation between first 4 hour candle and daily candle 1 reply

Is there a programmer interested to make an ea for 50 pips candle system? 0 replies

Attachments: 50 pips candle system
Exit Attachments

50 pips candle system

  • #701
  • Jan 14, 2010 7:00am Jan 14, 2010 7:00am
Quoting tommbstone
your filter is 1000 (on 15min) SMA or EMA?

So right now we have 4 blue box's in a row (bars) your long over the last one since its over the 1000 line correct? or are you waiting for second confirmation from something else?

Thx again.
How do draw your 50 pips candles? Thanks
  • #702
  • Jan 14, 2010 7:55am Jan 14, 2010 7:55am
Quoting logical
Hello

Would it not be more LOGICAL if you were to trade against the previous closing candle.

For example, when green candle is drawn, open sell for next order.

If red candle is drawn, open buy for next order.

It makes easily 600 pips as opposed to 150 pips.

Also, lets not forget the spread... we can look at this later.

LOGICAL
You cannot set a rule on just one figure and to expect 600 pips ! I think there really more situation to take in consideration before !
  • #703
  • Jan 14, 2010 2:58pm Jan 14, 2010 2:58pm
Quoting aelimian
How do draw your 50 pips candles? Thanks
Price change indicator is for that..
  • #704
  • Jan 14, 2010 7:53pm Jan 14, 2010 7:53pm
Is there any way to modify this EA to include a SL and TP level and only trade at the "00" or "50" level.

The intent here is to only buy or sell when the price moves through these levels and maybe take 50 pip TP and have a 20 pip SL.

ie. if price moves from the bottom through 1.6300 then it would buy and close trade only when SL or TP is hit. Then after that trade is closed and price goes through another "00" or "50" level, buy or sell etc. Only one active trade opened at a time.

Maybe if we limit the SL to a lower number the total gains will be better than just trading the patterns.
  • #705
  • Jan 15, 2010 6:35am Jan 15, 2010 6:35am
I also found one very good patern and it is RG and GR. And I manage them in this way. 100 pips bars.Use sma1000 on 15minTF.When price is over the average and you find GR patern sell Tp-100 ,SL -150. And opposite for sell when price is below the average and you find RG patern buy with same tp, sl.
From year 2008 til now it produses 177 trades and makes 4200 pips profit
It gives about 70 persent wining trades. Risk reward is not perfect but becose of wining persentage it is working ok. And if to use same sl tp it makes only 1300 pips per this period.
  • #706
  • Jan 17, 2010 11:19pm Jan 17, 2010 11:19pm
Quoting aelimian
How do draw your 50 pips candles? Thanks
I'm using the pricechange indicator that someone posted here.
  • #707
  • Jan 18, 2010 5:06am Jan 18, 2010 5:06am
Has anyone been using this method on a live account for a longer period of time? I have played around with systems and backtested them which always looked good, but then as soon as I applied them there was always something that caused them to fail on the long term.
{Promotion Removed}
  • #708
  • Jan 18, 2010 6:34am Jan 18, 2010 6:34am
hi guys..interesting thread..thanks to all that posted..

i was looking at something similar in trying to localise price action by drawing boxes at various crossovers of certain indis etc.. (whole variety) but found nothing concrete as yet, but would like to give this a go..

i have loaded all of ea's and indis, but when i got to open the ea on a 1min chart, i enable all settings and ea's to run and get the message to open 2 in chart offline.. imy broker doesnt offer 2 min charts by the looks unless i'm missing something.. could anyone advise please.

the ea i am trying to use is the RenkoRangeBars50 V1.. is his the correct ea for the green and red bars to be drawn..

is this thread still alive zeb et al?
good luck

naboo
  • #709
  • Jan 18, 2010 7:51am Jan 18, 2010 7:51am
Price range indikator drows those bars. That ea can`t be used for anything serious.
  • #710
  • Jan 18, 2010 7:57am Jan 18, 2010 7:57am
Quoting forexhabits
Has anyone been using this method on a live account for a longer period of time? I have played around with systems and backtested them which always looked good, but then as soon as I applied them there was always something that caused them to fail on the long term.
I`m using 100 pips bars and 2 methods which I have discribed in resently posts. And I am confident with them, thats main traiding rule for me.
  • #711
  • Jan 18, 2010 8:42am Jan 18, 2010 8:42am
Quoting naboo
hi guys..interesting thread..thanks to all that posted..

i was looking at something similar in trying to localise price action by drawing boxes at various crossovers of certain indis etc.. (whole variety) but found nothing concrete as yet, but would like to give this a go..

i have loaded all of ea's and indis, but when i got to open the ea on a 1min chart, i enable all settings and ea's to run and get the message to open 2 in chart offline.. imy broker doesnt offer 2 min charts by the looks unless i'm missing something.. could anyone advise...
Hi !
Yes i'm still here !
I think even if the method was good last months, it is not the same if you backtest it in 2008...
I'm looking for different ways of using this method, i would like every month is positive for my account.
But saintsurfer's style is a good way .
  • #712
  • Jan 19, 2010 7:44am Jan 19, 2010 7:44am
cheers zeb et al.. will keep an eye.


naboo
  • #713
  • Edited Jan 22, 2010 9:05am Jan 21, 2010 9:24am | Edited Jan 22, 2010 9:05am
Sell oprtunity. After two red bars completed the price was under the sma so it is a sell for me. price1.6200 Tp 100 SL 100
It is not going my way until now and it doesn`t mean there is guaranty for evrithing. But if I will not try I will not know.

All right i tryed and I know now, congratulations saintsurfer
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdrsi.gif Size: 18 KB
  • #714
  • Jan 22, 2010 11:09am Jan 22, 2010 11:09am
Quoting Saintsurfer
Sell oprtunity. After two red bars completed the price was under the sma so it is a sell for me. price1.6200 Tp 100 SL 100
It is not going my way until now and it doesn`t mean there is guaranty for evrithing. But if I will not try I will not know.

All right i tryed and I know now, congratulations saintsurfer
Well done saintsurfer
  • #715
  • Jan 24, 2010 1:58am Jan 24, 2010 1:58am
Hello Saint
Great Job
Tks for sharing .
So 2 conscutives red blocks 400-300 & 300-200
so you have a short setup
You move from m30 to m15 to see if you have a trigger
on the m15 , price is bellow SMA 1000
so you have a trigger for short .
Entry @ 6200
SL @ 6300
TP @ 6100
trade result : +100 pips
and what's now ? you are again in a short trade from 6100
as the previous 2 blocks were red ?
What patterns do you trade ?
Do you have a spreadsheet with your results ? Can u share with us ?
Will be very helpfull, if you'll accept, to post your trades in real time , just to make sure we understand your system and the different patterens you may trade
Tks
David
Quoting Saintsurfer
Sell oprtunity. After two red bars completed the price was under the sma so it is a sell for me. price1.6200 Tp 100 SL 100
It is not going my way until now and it doesn`t mean there is guaranty for evrithing. But if I will not try I will not know.

All right i tryed and I know now, congratulations saintsurfer
Attached Image (click to enlarge)
Click to Enlarge Name: 1 ed.jpg Size: 110 KB
  • #716
  • Jan 24, 2010 5:37am Jan 24, 2010 5:37am
I use two paterns or two methods with these 100 pips bars. And everithing is described in posts 693 and 705.
It is very simple.
  • #717
  • Jan 24, 2010 8:08am Jan 24, 2010 8:08am
Saint
It's simple if you know ALL the rules .
If you took a short after two red blocks ...
An it turns into a winner...
When can be your next Short entry ?
You wait for 1 blue , 1 red , 1 red
and only then you will enter again short ?
so if price continues to fall down there is no short entry , you must wait at least for one block in the opposite direction and the two reds , so it's a minimum of 3 blocks combination ?
Tks
David

Quoting Saintsurfer
I use two paterns or two methods with these 100 pips bars. And everithing is described in posts 693 and 705.
It is very simple.
  • #718
  • Jan 24, 2010 8:53am Jan 24, 2010 8:53am
Quoting david4u
Saint
It's simple if you know ALL the rules .
If you took a short after two red blocks ...
An it turns into a winner...
When can be your next Short entry ?
You wait for 1 blue , 1 red , 1 red
and only then you will enter again short ?
so if price continues to fall down there is no short entry , you must wait at least for one block in the opposite direction and the two reds , so it's a minimum of 3 blocks combination ?
Tks
David
thats right I trade only after the first two red or blue bars. You understand it right I gess
  • #719
  • Jan 24, 2010 9:19am Jan 24, 2010 9:19am
tks
Quoting Saintsurfer
thats right I trade only after the first two red or blue bars. You understand it right I gess
  • #720
  • Jan 24, 2010 10:01am Jan 24, 2010 10:01am
Saint
Can you pls confirm if I have understood the pattern correctly
(and not the opposite way)
Tks
David
Attached Image (click to enlarge)
Click to Enlarge Name: rg gr.gif Size: 23 KB
0 traders viewing now