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Anyway just got back from medicine run, Mrs V's pneumonia is coming back, and did lunch.Ignored
- #1,227
- Edited 4:41am Jun 4, 2010 4:23am | Edited 4:41am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
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
DislikedHi Vantage,quick question.Do we wait for the 1hr candle to finish then trade the 5 min or the moment we see a LH/HL candle then enter the trade?
Sorry for this noob question!
KaiIgnored
DislikedDo we enter on the break of the first LH/HL or the moment the candle opens at a lower or higher location? There seems to be a lot of posts on take profits but not entry..Ignored
DislikedFeel better soon, Mrs V! Don't worry, I'll make sure Vantage doesn't throw a bunch of new indicators on his charts while you're away.Ignored
DislikedHi Van,thank you for your answers to my questions.I like the fact that this method is indicator free except for the 34 & 5 emas.Gives me a better view of the whole chart.Been demoing this and doing ok but i tend to enter late or too early hence the questions.Will demo again later so hope i get it right.
Thank YouIgnored
DislikedI never traded these but they are a good example of how the various rules come together to keep you out of a losing trade.
5 min gu. The 1hr had a shooting star so after Y's candle suggested lower also you'd think sell. If you viewed the arrows down as lh's that comply with system fine, pa never went 1 pip below the 5 min set up candle so no sell triggered. Loss avoided.
1hr turns around with a nice hammer, 5 mins after that candle closed a perfect system. 1hr hammer, 15 min pos close, right on 1hr 8lwma, 5 min hl, price continues above the...Ignored
DislikedA 40 pip move resulted, say you got 30. On .1 lot per $1000 or 1 lot per $10000 with a 15 pip stop (1.5%) thats a 3-4% ROI on a pretty safe set up.
Why safe? Good 1hr candle, pos close on 15 min, the 5 min hl shaken out final sellers above W R1 at 4625 which = the 25 psych level.Ignored
DislikedNo problem, there are 2 basic set ups.
The hl/lh at an extreme (aka 1 2 3 tops/bottoms) where the 1 hr may not yet have turned around. But here I would want some other confirmation eg good 15 min candles supporting a turn (double top/bottom, doji, hammer/shooting star) at a key level (pivot, round number, etc etc).
Then during a run a nice 1hr set up candle and 15 min agreeing with 5 min hl/lh.
So no I wouldn't necessarily be waiting for 1hr to close if I'm looking at a hl/lh at an extreme point. If I have missed the [color=Red]hl/lh...Ignored
DislikedHave a look at Aurons chart here http://www.forexfactory.com/showpost...postcount=1186 on the left of the chart there is a hl above 111.25. The hl was at the extreme of the pa for the morning up to that point.
Then if you look at the middle of the chart where he has 2 arrows up pa is now in the middle and you should be watching to follow the 1hr/15 min. Until you get to a lh that you feel is at the extreme (yes that last bit can be subjective).Ignored
DislikedHi Van,understood the 1st arrow but the 2nd arrow is LOWER than the bar before it.I thought you need a bar higher than the prior to count as a HigherLow?
Or are you implying as long as it bounces from a pivot or round number and the candle close as a bullish bar,we can take trade?
Or maybe I am seeing it wrongly?Ignored
DislikedEntry is once the requirements are met (including the set up on 5 min having little or no upper wick for buys and little or no lower wick for sells) and price moves past the extreme of the 5 min set up candle by a pip or so.
If you look at the numerous live trade pics shown here (the buy sell levels are per mt4 and not added by me) they are the actual entry levels. I use a 2 pip (20 on 5 digit broker) max deviation in case price moves on me.Ignored
DislikedThe chart again we are referring to
http://www.forexfactory.com/showpost...postcount=1186
This is my take. I'm not concerned where the hl bar closes with regard to the previous candle. I'm looking for firstly the low. The left arrow, the candle to the immediate left of it is a hammer, its clearly a higher low to the previous low around 111.47. The left arrow up candle closes positively (around 111.80) confirming the hl. The 2nd thing to look for, that confirmation candle has little/no upper wick so thats great. It has a...Ignored