Higher low, lower high system | Page 37 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What are Higher High, Higher Low, Lower High and Lower Low? 11 replies

How to program Higher-High Higher-Low 19 replies

Higher High/Higher Low indicator conversion from 4 to 5 decimals. Help anyone? 2 replies

Can u point me to code 2 show each bar with a higher high & higher low? 2 replies

High to High and Low to low time cycles 1 reply

Attachments: Higher low, lower high system
Exit Attachments

Higher low, lower high system

  • #721
  • Edited 10:12am Apr 8, 2010 3:20am | Edited 10:12am
Quoting Royston
Beginning to feel I may have arrived on the same page, lol... I took the second trade, closed +36.3 but missed the first. I missed the trigger on the first, which was the break of the 5 min low, and when I focused on the charts properly, the 15 min had closed as a hammer (neg close admittedly) on increasing volume. So I let it go past. Lately I notice that I keep getting fooled by the shapes of some of the higher time frame bars, 60 min hammers etc, which then get passed as the trend carries on. But I am learning fast, and these posts help a lot....
Hi Royston.

Thanks again (can never say that too often) the simple clarity of having the high/low days open on charts and looking for that for direction was a very simple nice tweak.

The other poss entry on above 1st trade was when the 15 min hammer low failed around 5212 ish.

The back up pc (well its around 4 yrs old but updates, hard drive, vista have got it fairly decent spec) up and running fine. It only has 1 video card and have to take in to see if it will take another perhaps with a new mother board. The computer shop also can source the hard drive thingie you mentioned, thanks for the help.
  • #722
  • Edited 10:13am Apr 8, 2010 3:25am | Edited 10:13am
Quoting orientos
Thanks for the charts V. Be nice if we all could get daily targets so quick. Am coming to grips with your DO strategy. Does Mrs. V. approve of this?
Just the 2nd trade gave close to daily target and to be honest I'd be happy with that.

Put the daiy high low + open on a 4hr chart and make the high low black. Have a look how well that days open is respected, lovely basis for a London session system.

Mrs V (chairperson, ceo, founding member, shareholder of the association don't change system or you're dead) is 100% happy with tweak. Doesn't change our methods but focus is now strict on this direction so it becomes when we will take a trade. Thats on the basis of what we mention generally - whats 1hr doing, no 15 min contra signals, hl's/lh's.
  • #723
  • Apr 8, 2010 3:30am Apr 8, 2010 3:30am
I feel much more comfortable knowing the "she who must be obeyed" has blessed this strategy.
  • #724
  • Apr 8, 2010 3:35am Apr 8, 2010 3:35am
Quoting orientos
I feel much more comfortable knowing the "she who must be obeyed" has blessed this strategy.
Yeah it would be a toughie if she didn't OK.
  • #725
  • Apr 8, 2010 3:35am Apr 8, 2010 3:35am
Got this pm if OK I'll answer here.

Hi Vantage,

thanks for sharing your trades and your new approach to use the daily open's to set the direction of your trades.

I think the mechanics for taking hl and lh trades are very sound, but I am getting abit confused about the preconditions to take those hl and lh trades at the 5min / 1 min timeframes. If I am following you correctly, you are looking the previous 1 hour candle, the 15 min candle and volume and more recently, using the DO as filters for your hl and lh trades. My question is does all three have to line up before you place a trade. Sometimes, the hourly close may show good strength but in the 15 min, you may have shooting star with good volume. Will you still take the trade? Will you also take a trade if the hourly and 15 mins line up but you are against the DO.

Appreciate if you can help to clarify.

Thanks and have a great day ahead.

Respectfully
  • #726
  • Edited 10:15am Apr 8, 2010 3:51am | Edited 10:15am
Quoting Vantage
Got this pm if OK I'll answer here.

Hi Vantage,

thanks for sharing your trades and your new approach to use the daily open's to set the direction of your trades.

I think the mechanics for taking hl and lh trades are very sound,
Thanks and have a great day ahead.

Respectfully
Looking at 1 hr and 15 min candles. I wouldn't want to blindly take trades where these candles are going against my trade. Also whilst not being an expert on vsa it has helped me be more aware of candle shapes and follow through on a candle.

Have a look at this 1 hr chart just to give some examples.

See yesterdays pa. We had a strong move down to Y's low around 5140. Prior to that it was selling only. The positive close green candle with higher vol suggests buyers now coming in and be careful of selling. There is then a hammer that cannot break above the green candle close, see left arrow up. Here you're thinking buy BUT there is the potential for a sell as the hammer break the prior candles top .......... yet..
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 31 KB
  • #727
  • Apr 8, 2010 3:55am Apr 8, 2010 3:55am
Quoting Vantage
Looking at 1 hr and 15 min candles. I wouldn't want to blindly take trades where these candles are going against my trade. Also whilst not being an expert on vsa it has helped me be more aware of candle shapes and follow through on a candle.

Have a look at this 1 hr chart just to give some examples.
OK so the 1 hr yesterday shows a possible move up. Heres the 5 min making hl's and higher highs. So the 1hr pos close and hammer has followed up with moves up ie buy. I didn't see anything on 15 min to suggest that you cannot buy.

On this 5 min chart the red line shows close of 1hr hammer, arrows up poss buys.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 23 KB
  • #728
  • Edited 10:16am Apr 8, 2010 4:07am | Edited 10:16am
The 5 min moves mentioned above had good hl's etc and has a big move up to 5275 where we now have a 1hr hammer that again cannot break above its prev candle high. Vol is lower agreed partly time of day. See the arrow down on above 1hr chart where the hammer has not gone above prev candle high.

The 15 min chart (not shown) had a nice shooting star.

On this 5 min chart you have a double top, ie it can't go higher, a 15 min shooting star, move gone to a key level the prev highs lots of reasons not to buy again.
Attached Image (click to enlarge)
Click to Enlarge Name: 3.gif Size: 23 KB
  • #729
  • Edited 4:35am Apr 8, 2010 4:24am | Edited 4:35am
Back to todays trades on above 1hr the shooting star arrow down.

OK to the pm I got. I hope the examples I show will give an idea as to how I'm trading.

Yes I want 1hr and 15 min and days open to be agreeing with my trade.

If NOT eg 1hr and 15 min are moving up to a key level and I'm going to sell I'd want a couple of things first ie failure to go higher so a double top, vsa helping ie vol falling away suggesting the move is losing steam. I hope these examples (and my explanation) are clear.

Would I take trades where there are clear contradictions, I'd consider on the circumstances eg 1hr moving up but vol low prob with an upper wick or doji, 15 min shoting star on high vol, yes I'd CONSIDER that as a sell off a 5 min lh. The 1hr showing potential to be running out of steam and good 15 candle and vol.

But pls remember this is a discussion whats happening live is always the real thing and I can only really say look at the examples posted. Follow along a little more until things get clearer.

IF IN DOUBT STAY OUT, theres lots of good set ups coming. Yesterday there was a lot of ups and downs, it too a whole hour or so for that junk to blow off and a good set up to come.

Whilst it was always there the rigid consideration of D'sO is new and for now we are sellers below DO and buyers above (until its had a good run then you can consider counter trend).
  • #730
  • Apr 8, 2010 4:28am Apr 8, 2010 4:28am
This is the prev high low + days open with only the blue days open line shown on 4 hr chart.

If this does not make anyone pause to consider buying above DO and selling below I don't know what will. For me its clear and this 15 day snapshot does not represent isolated cases, go back further and have a look. Nothings perfect but for london session this is pretty good putting odds in your favour and thats all we can ask for.
Attached Image (click to enlarge)
Click to Enlarge Name: 4.gif Size: 19 KB
  • #731
  • Apr 8, 2010 4:30am Apr 8, 2010 4:30am
Quoting Vantage
Got this pm if OK I'll answer here.

Hi Vantage,

thanks for sharing your trades and your new approach to use the daily open's to set the direction of your trades.

I think the mechanics for taking hl and lh trades are very sound, but I am getting abit confused about the preconditions to take those hl and lh trades at the 5min / 1 min timeframes. If I am following you correctly, you are looking the previous 1 hour candle, the 15 min candle and volume and more recently, using the DO as filters for your hl and lh trades. My question is does all...
I hope I've covered everything, if answers not clear pls pm again.
  • #732
  • Apr 8, 2010 4:35am Apr 8, 2010 4:35am
What is your thinking right now (apart from approaching lunch)? One hour candle is a positive close green engulfing on high volume. Which has stalled at 5200. 15 min bars are all inside bars, relative to the news bar. The 5 min shows 3 attempts to get through the RN.
  • #733
  • Apr 8, 2010 4:43am Apr 8, 2010 4:43am
Quoting Royston
What is your thinking right now (apart from approaching lunch)? One hour candle is a positive close green engulfing on high volume. Which has stalled at 5200. 15 min bars are all inside bars, relative to the news bar. The 5 min shows 3 attempts to get through the RN.
Good upper wick on 1 hr but closed in upper half so its still regarded as pos close candle. 15 min shooting star could get upper wick taken out for a buy. We are getting very close to 50% of y's range though making a buy a toughie.

Also we are getting close to int rate decision on gu so after good run this morning I'm not trading anymore, just me.
  • #734
  • Apr 8, 2010 4:44am Apr 8, 2010 4:44am
Hi Vantage,

thought I would come over and have a look at this thread as well.

I have your Ydays H and Low indi as well as todays open but also have a fourth line showing, what is that for, I have tried lining it up on 1 hour charts but does not seem to coincide with O or C or H or L.

Could you tell me what the mystery line is for please?

Edit is it 50% of Yday?
Money grows on the tree of persistence
  • #735
  • Apr 8, 2010 4:46am Apr 8, 2010 4:46am
Quoting ozmacca
Hi Vantage,

thought I would come over and have a look at this thread as well.

I have your Ydays H and Low indi as well as todays open but also have a fourth line showing, what is that for, I have tried lining it up on 1 hour charts but does not seem to coincide with O or C or H or L.

Could you tell me what the mystery line is for please?
Hi ozmacca.

Thats just the current price level. Post a chart if its not that.
  • #736
  • Apr 8, 2010 4:54am Apr 8, 2010 4:54am
Hi V,

Yes, it is the 50% line of yesterdays range, it can act as a SR as well I have noticed.

So if Yday candle /bar is green we only buy above Todays open is the plan. I shall have a look, I need a filter and some rules this might help me.
Money grows on the tree of persistence
  • #737
  • Apr 8, 2010 5:01am Apr 8, 2010 5:01am
Quoting Royston
What is your thinking right now (apart from approaching lunch)? One hour candle is a positive close green engulfing on high volume. Which has stalled at 5200. 15 min bars are all inside bars, relative to the news bar. The 5 min shows 3 attempts to get through the RN.
A good example of contradiction trade.

1hr positive engulfing candle suggests up. 15 min candle 2 lower closes then a shooting star that cannot go lower. As soon as upper wick of shooting star is taken out that gives a buy possibility.

As mentioned getting near-ish to UK int rates so we haven't considered.

Nice trade Royston if you did.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 30 KB
Click to Enlarge Name: 2.gif Size: 18 KB
  • #738
  • Apr 8, 2010 5:04am Apr 8, 2010 5:04am
Quoting Vantage
A good example of contradiction trade.

1hr positive engulfing candle suggests up. 15 min candle 2 lower closes then a shooting star that cannot go lower. As soon as upper wick of shooting star is taken out that gives a buy possibility.

As mentioned getting near-ish to UK int rates so we haven't considered.

Nice trade Royston if you did.

Islander was probably buying around 5190 when that 15 min shooting star closed and moved up, yes we'll take those trades sometimes but thats a different story.
  • #739
  • Apr 8, 2010 5:07am Apr 8, 2010 5:07am
Quoting ozmacca
Hi V,

Yes, it is the 50% line of yesterdays range, it can act as a SR as well I have noticed.

So if Yday candle /bar is green we only buy above Todays open is the plan. I shall have a look, I need a filter and some rules this might help me.
GU loves 50% fibs.

See post 1, the rules come down to buy above days open, sell below (until a significant run has happened).

As for filters I really hope rest of this thread, 5 min hl's/lh's (consider 1 hr and 15 min) will give you whats needed.
  • #740
  • Apr 8, 2010 5:15am Apr 8, 2010 5:15am
Quoting Vantage
A good example of contradiction trade.

1hr positive engulfing candle suggests up. 15 min candle 2 lower closes then a shooting star that cannot go lower. As soon as upper wick of shooting star is taken out that gives a buy possibility.

As mentioned getting near-ish to UK int rates so we haven't considered.

Nice trade Royston if you did.

No, I took the first HL after the news. To cut a long story short, I closed -3 on that trade. Looking at the chart, the third low was the one to take. But what factors would keep you out of the first 2, and then take the third? In hindsight, I can see factors saying why you should take the 3rd low, mainly the inability of price to break below 5184, so that is a positive indication to take the trade, but what stops you taking the first 2 breaks of the low?
16 traders viewing now