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NEW Candles Formation Trading -Petar Formation

  • #241
  • Aug 18, 2010 10:59am Aug 18, 2010 10:59am
Quoting roundrock
i checked my code, the reason why i am not getting those signals is because leading bar must be smaller than candle1 and candle2. the total bar length (hi-lo) of leading should be less than candle1 and candle2

apply this rule then all your extra signals will vanish

i trust my code than my eyes. if there is a rule, i must follow it. even 1 pip is important

only way to make this system profitable is not take all system trades. use sup/res, tl, fib and other price action methods
You got a point that is good..

That isnt only way you have many ways but you use wich you prefer

About code,

You will also mis very good trades with that rule and that is the same,everything is relative as like that you said...I posted exatcly how i traded in my trading exp...

Cheers

Green pips
"Buy on fear, sell on greed !!!
  • #242
  • Aug 18, 2010 11:10am Aug 18, 2010 11:10am
This one looks promising GBPCHF H4 we will see








Cheers


Petar
Attached Image (click to enlarge)
Click to Enlarge Name: wewillsee.gif Size: 19 KB
"Buy on fear, sell on greed !!!
  • #243
  • Aug 18, 2010 11:12am Aug 18, 2010 11:12am
Hey guys
I had also started a quick indi last night. Just marks the high patterns right now (sell signals). Can anyone give it a look and see if it's really firing the right signals?

I followed these rules
Inserted Code
leadRange <= bar1Range && leadRange <= bar2Range
High[lead] > High[bar1] && High[lead] > High[bar2])
Low[lead] >= ( Low[bar2] + (0.5 * bar2Range) )

Here's a chart pic. See any missed? If the rules are good, I'll throw in the buy signals and upload.
Attached Image (click to enlarge)
Click to Enlarge Name: petar3bmbHighs.jpg Size: 48 KB
Attached File(s)
File Type: mq4 Petar3Bar_mb_v01.mq4   4 KB | 341 downloads
  • #244
  • Aug 18, 2010 11:14am Aug 18, 2010 11:14am
Quoting Petar_Serbia
I just saw your post >

I dont undestand questions on your chart ?


Read first post and my examples and explanations...



Petar
Please, read post #150 (Page 10) and you will understand what I'm asking. My questions are based on words spoken by you. You've said some things in your first post and other things different in the following where you try to explain the questions. It seems that this system had no clear rules.

Ducke
  • #245
  • Aug 18, 2010 11:23am Aug 18, 2010 11:23am
Quoting ducke
Please, read post #150 (Page 10) and you will understand what I'm asking. My questions are based on words spoken by you. You've said some things in your first post and other things different in the following where you try to explain the questions. It seems that this system had no clear rules.

Ducke
My friend,

This is formation isnt system and have clear rules >

All rules you have in one picture >

http://www.forexfactory.com/showpost...&postcount=170

Also read first post carefully >

When i said pin i think every weaknes from candle of 1 pips UP or Down is weakness,that is all about that...For sell we must have Minimum 1 pip Uper weaknes for buy 1 pip low wekanes from candle...


All its clear


Petar
"Buy on fear, sell on greed !!!
  • #246
  • Aug 18, 2010 11:25am Aug 18, 2010 11:25am
Quoting markb
Hey guys
I had also started a quick indi last night. Just marks the high patterns right now (sell signals). Can anyone give it a look and see if it's really firing the right signals?

I followed these rules
Inserted Code
leadRange <= bar1Range && leadRange <= bar2Range
High[lead] > High[bar1] && High[lead] > High[bar2])
Low[lead] >= ( Low[bar2] + (0.5 * bar2Range) )
Here's a chart pic. See any missed? If the rules are good, I'll throw in the buy signals and upload.
Attachment

You have done very well with coding from the signals given is good, why you load up the buy signals then we can test, if necessary improvements will be suggested, you may be very close to cracking something there.

think you got it right!!!
  • #247
  • Aug 18, 2010 11:25am Aug 18, 2010 11:25am
Quoting markb
Hey guys
I had also started a quick indi last night. Just marks the high patterns right now (sell signals). Can anyone give it a look and see if it's really firing the right signals?

I followed these rules
Inserted Code
leadRange <= bar1Range && leadRange <= bar2Range
High[lead] > High[bar1] && High[lead] > High[bar2])
Low[lead] >= ( Low[bar2] + (0.5 * bar2Range) )

Here's a chart pic. See any missed? If the rules are good, I'll throw in the buy signals and upload.
Attachment
I cant see good,in third trade becouse you must respect rule from 50 % read this http://www.forexfactory.com/showpost...&postcount=170


I explained well matematicly

Cheers and thanks for your work


Petar
"Buy on fear, sell on greed !!!
  • #248
  • Aug 18, 2010 11:31am Aug 18, 2010 11:31am
Look >

Point is Range from AB must be 50 % or more from range CD that you must fix...


That mean your code must test always 3 candles to find where this rule meet..



Cheers

Petar
Attached Image (click to enlarge)
Click to Enlarge Name: rule.gif Size: 14 KB
"Buy on fear, sell on greed !!!
  • #249
  • Aug 18, 2010 11:34am Aug 18, 2010 11:34am
Quoting markb
Hey guys
I had also started a quick indi last night. Just marks the high patterns right now (sell signals). Can anyone give it a look and see if it's really firing the right signals?

I followed these rules
Inserted Code
leadRange <= bar1Range && leadRange <= bar2Range
High[lead] > High[bar1] && High[lead] > High[bar2])
Low[lead] >= ( Low[bar2] + (0.5 * bar2Range) )
Here's a chart pic. See any missed? If the rules are good, I'll throw in the buy signals and upload.
Attachment
think you should add the buy signals to the indi, lets evaluate cos if you have gotten it right i think you are very close to it
  • #250
  • Aug 18, 2010 11:39am Aug 18, 2010 11:39am
Quoting Petar_Serbia
Look >

Point is Range from AB must be 50 % or more from range CD that you must fix...


That mean your code must test always 3 candles to find where this rule meet..



Cheers

Petar
Petar, dont forget he is coding an indi not EA as manual filter may be necesary using this setup, it would be nice to have reliable indi to fish out all potential setups then manual screening b4 entry so a lot pairs can be taken with MM, what do u think?

I am saying this as nobody has been able to code the 50% rule correctly, can work with this b4 better improvements
  • #251
  • Aug 18, 2010 11:43am Aug 18, 2010 11:43am
Quoting pet
Petar, dont forget he is coding an indi not EA as manual filter may be necesary using this setup, it would be nice to have reliable indi to fish out all potential setups then manual screening b4 entry so a lot pairs can be taken with MM, what do u think?

I am saying this as nobody has been able to code the 50% rule correctly, can work with this b4 better improvements
I agree my friend

But we must code correct
"Buy on fear, sell on greed !!!
  • #252
  • Aug 18, 2010 11:50am Aug 18, 2010 11:50am
Quoting pet
Petar, dont forget he is coding an indi not EA as manual filter may be necesary using this setup, it would be nice to have reliable indi to fish out all potential setups then manual screening b4 entry so a lot pairs can be taken with MM, what do u think?

I am saying this as nobody has been able to code the 50% rule correctly, can work with this b4 better improvements
I agree, an indi WITH ALERTS on pair and tf would be great, that way you can quickly take a look at s/r, other time frames etc and decide on trade.

Again, tho', communication becomes an issue, since it is possible what one person means by range is different to another persons meaning. Example, we had the same issue with what is a pin, till Petar finally clarified what he means by pin - just a minimum of 1 pip wick in the right direction. that definition is right for this method, but is not what 99% of readers think is a pin.

Petar, to help, rather than say just A = C etc which I certainly can't make out what we're trying to mean, could you simply say:

A: is open ( or close or whatever) of candle,
B: is high/low of etc. etc.
C: is ....... and so on.

That way there is no confusion, everybody can understand.

Thanks
Pardy
  • #253
  • Aug 18, 2010 11:52am Aug 18, 2010 11:52am
The "new" candle formations you describe are not new. They are in fact Pin Bars, Inside Bars, Inside Bar Reversals, and Outside Bars. To give credit where credit is certainly do - you are well on your way to understanding price action. If you would like more detailed information search for Nial Fuller on the web or consult Martin Pring on Price Patterns.
  • #254
  • Aug 18, 2010 11:53am Aug 18, 2010 11:53am
Quoting Pardy
I agree, an indi WITH ALERTS on pair and tf would be great, that way you can quickly take a look at s/r, other time frames etc and decide on trade.

Again, tho', communication becomes an issue, since it is possible what one person means by range is different to another persons meaning. Example, we had the same issue with what is a pin, till Petar finally clarified what he means by pin - just a minimum of 1 pip wick in the right direction. that definition is right for this method, but is not what 99% of readers think is a pin.

Petar, to help,...
Yes i try and i hope we going good

Best thing on forex is to pick some good trades and go fish i work on that way >

For Example we got 2 good setups on EURUSD 30 min > WE can see clear sup res points and thats it,grab some pips and go fishing

Wrong is to trade all day and try to be greedy,take 1,2,3 good setups and go...

Petar
Attached Image (click to enlarge)
Click to Enlarge Name: 2goodsetups.gif Size: 18 KB
"Buy on fear, sell on greed !!!
  • #255
  • Aug 18, 2010 11:54am Aug 18, 2010 11:54am
Quoting roundrock
i checked my code, the reason why i am not getting those signals is because leading bar must be smaller than candle1 and candle2. the total bar length (hi-lo) of leading should be less than candle1 and candle2

apply this rule then all your extra signals will vanish

i trust my code than my eyes. if there is a rule, i must follow it. even 1 pip is important

only way to make this system profitable is not take all system trades. use sup/res, tl, fib and other price action methods
Roundrock, for your test ea, perhaps you could try a trade being taken only when the high/low of candle2 is exceeded. For most of ure shown failed trades, this will sort the hit rate.

Regards
Pardy
  • #256
  • Aug 18, 2010 12:01pm Aug 18, 2010 12:01pm
Quoting Trader451
The "new" candle formations you describe are not new. They are in fact Pin Bars, Inside Bars, Inside Bar Reversals, and Outside Bars. To give credit where credit is certainly do - you are well on your way to understanding price action. If you would like more detailed information search for Nial Fuller on the web or consult Martin Pring on Price Patterns.

who wants to buy snake oil??
  • #257
  • Aug 18, 2010 12:07pm Aug 18, 2010 12:07pm
Quoting Trader451
The "new" candle formations you describe are not new. They are in fact Pin Bars, Inside Bars, Inside Bar Reversals, and Outside Bars. To give credit where credit is certainly do - you are well on your way to understanding price action. If you would like more detailed information search for Nial Fuller on the web or consult Martin Pring on Price Patterns.
haha LOL ,


I wondering why this people post if they cant say anythhing good...

My friend first Inside bar and Outside bar dont have any similar with this formation,second this is my formation with strict my rules and we are here to earn pips togehter...

Third your post is comercial and be carefull this forum has admins...



Petar
"Buy on fear, sell on greed !!!
  • #258
  • Edited 12:37pm Aug 18, 2010 12:18pm | Edited 12:37pm
Quoting Trader451
The "new" candle formations you describe are not new. They are in fact Pin Bars, Inside Bars, Inside Bar Reversals, and Outside Bars. To give credit where credit is certainly do - you are well on your way to understanding price action. If you would like more detailed information search for Nial Fuller on the web or consult Martin Pring on Price Patterns.

Yes this formation is not entirely new, but must confess it has its own variation no matter how minor, and i considered it an improvement of those setups you mentioned and more like Key reversals and Hook reversals in Bar charting etc

Most of thses other formations requires atleast 2 candles to qualify while this requires 3 candles and I think thats the reason why most people here are having a hard time understanding the relevance of the third candle in the formation.

To me i think the inclusion of this third candle which can now acts as filter is a worthy improvement especially when match with Petar's 50% rule. As i know it Pin bars, inside/outside bar, engulfing and similar dont have anything near 50% success hit on regular, this setup has been enhanced to increase success rate.

Since you care enough to let us know that this formation has been existing before, i am just wondering why you didnt drop by earlier to enlighten us before this thread started, or maybe you are also selling some snake-oil or you can just teach us whatever you have learnt from those names you mentioned in your post, thanking you in advance.
  • #259
  • Aug 18, 2010 12:29pm Aug 18, 2010 12:29pm
Quoting Petar_Serbia
Yes i try and i hope we going good

Best thing on forex is to pick some good trades and go fish i work on that way >

For Example we got 2 good setups on EURUSD 30 min > WE can see clear sup res points and thats it,grab some pips and go fishing

Wrong is to trade all day and try to be greedy,take 1,2,3 good setups and go...

Petar
That's true. If you try to trade too much, you'll only risk the chances of loosing the trade more. But here's the golden questions. How to identify which trade is more profitable than others? Quite honestly, I can spot these candle formations few times a day and I'm not quite sure which I should go for. I don't have the money to trade mindlessly. How'd you picked which trade to enter Petar?
  • #260
  • Aug 18, 2010 12:33pm Aug 18, 2010 12:33pm
My little contribution to this thread. This indicator show all 3 bar patterns and alert when new pattern appears. There is no algo to filter out "pin" bar so indicator shows all setups in accordance to Petar 1-2-3 rules. So its you choice whether trade each setup or miss it.
Indicators shows leading bars by dots and entry bars by arrows
Attached File(s)
File Type: mq4 Petar3BarPattern.mq4   4 KB | 464 downloads
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