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NEW Candles Formation Trading -Petar Formation

  • #261
  • Aug 18, 2010 2:34pm Aug 18, 2010 2:34pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Petar_Serbia
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
Petar my man..
seems you are getting a hard time in here. Just trying to share something with us all and help other traders.
Don't give up! There will always be some people on here who don't like it, don't understand it or whatever.

The idea to code an indi to spot the setups is not bad at all IMO. (especially the 50% rule, so you don't have to measure/calculate it). So as Pet said it would be easier to monitor many pairs / TF.
Entering the trade should still be manual then. giving you the opportunity to check on other timeframes, Support/Resistance, Fibs or whatever.
(Hard to get all these factors into an EA and also depending on your own "style" of trading)

So keep it up man and thanks again for your efforts here!
"Blue Horseshoe loves Anacott Steel!"
  • #262
  • Aug 18, 2010 2:51pm Aug 18, 2010 2:51pm
Quoting Tuner
Petar my man..
seems you are getting a hard time in here. Just trying to share something with us all and help other traders.
Don't give up! There will always be some people on here who don't like it, don't understand it or whatever.

The idea to code an indi to spot the setups is not bad at all IMO. (especially the 50% rule, so you don't have to measure/calculate it). So as Pet said it would be easier to monitor many pairs / TF.
Entering the trade should still be manual then. giving you the opportunity to check on other timeframes, Support/Resistance,...
Thanks my best friend,

Of course we dont give up lol

I know it will be some teachers-traders wich dont like new and good things but that is normal
"Buy on fear, sell on greed !!!
  • #263
  • Aug 18, 2010 2:52pm Aug 18, 2010 2:52pm
Quoting Dezil
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
Please post some charts to see is everything ok





Petar
"Buy on fear, sell on greed !!!
  • #264
  • Aug 18, 2010 3:00pm Aug 18, 2010 3:00pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Dezil
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

Nice work Dezil!

Did just drag it to onto a chart now.
As far as I see the "50%-rule" is implemented correct.
(If I understood it )

what I've seen.
In case the entry bar (of a prior formation) turns out as leading bar of another formation you only see the arrow. But can be figured out if you look at the chart
Attached Image (click to enlarge)
Click to Enlarge Name: audusd_example.gif Size: 13 KB
"Blue Horseshoe loves Anacott Steel!"
  • #265
  • Aug 18, 2010 3:00pm Aug 18, 2010 3:00pm
Quoting Petar_Serbia
Please post some charts to see is everything ok





Petar
I can not post charts right now. Everyone can check by dropping my indicator on any chart.
  • #266
  • Aug 18, 2010 3:03pm Aug 18, 2010 3:03pm
Quoting Tuner
Nice work Dezil!

In case the entry bar (of a prior formation) turns out as leading bar of another formation you only see the arrow. But can be figured out if you look at the chart
I'll correct this later. It's just fist version which was quickly made
  • #267
  • Aug 18, 2010 3:07pm Aug 18, 2010 3:07pm
Hello, Petar,

Good Job! One Question:

Rule 2: "Leading candle must be larger than 50 % (range between candle 1 or candle 2) of candle 1 or candle 2 . That mean Leading candle lows on sell example cant be lower than 50 % of candle bodies of candle 1 or candle 2.For example Candle 1 have range (Pips between High and Low) 100 pips that mean lows from Leading candle must be minimum 51 pips of range i mentoned.Important thing is we need min 50 % from one no for both or from candle 1 or from candle 2..."

When you speak the body of the candle to what you mean, the distance between the Open and Close or the distance between High and Low?

Ducke
  • #268
  • Aug 18, 2010 3:09pm Aug 18, 2010 3:09pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Dezil
I'll correct this later. It's just fist version which was quickly made
No problem. just something I spotted.
Still nice work and thanks for your efforts!
"Blue Horseshoe loves Anacott Steel!"
  • #269
  • Aug 18, 2010 3:14pm Aug 18, 2010 3:14pm
Quoting Dezil
I'll correct this later. It's just fist version which was quickly made
Good begin but not complete > Look >


I dont see why i got this 2 arows ?



Can you check ?





Petar
Attached Image (click to enlarge)
Click to Enlarge Name: this.gif Size: 14 KB
"Buy on fear, sell on greed !!!
  • #270
  • Aug 18, 2010 3:14pm Aug 18, 2010 3:14pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting ducke
Hello, Petar,

Good Job! One Question:

Rule 2: "Leading candle must be larger than 50 % (range between candle 1 or...
Hi Ducke,
Petar posted a chart where he shows that. Maybe "body" was not the right word. but you'lll get it if you look at the pic

http://www.forexfactory.com/showpost...&postcount=248
"Blue Horseshoe loves Anacott Steel!"
  • #271
  • Aug 18, 2010 3:20pm Aug 18, 2010 3:20pm
Quoting Tuner
Hi Ducke,
Petar posted a chart where he shows that. Maybe "body" was not the right word. but you'lll get it if you look at the pic

http://www.forexfactory.com/showpost...&postcount=248
Thanks for help Tuner


I see now yes it good setup but i think you must put arowos to show on third candle no on fourth...
"Buy on fear, sell on greed !!!
  • #272
  • Edited 4:04pm Aug 18, 2010 3:26pm | Edited 4:04pm
Hi Petar
I would like you to know you have had quite an impact on my approach to trading, May I say thank you Petar, great job. Me being a newbie, found it confusing in the beginning, knowing what is best, what to concentrate on.

After reading several threads, covering vast numbers of indicators, bells and whistles, I have learned keeping
it simple is very important. Once starting on this thread I knew this is for me. Thank you for sharing your
ideas with us. The visual examples are more than enough for us all to learn by studying them.

Now, about these pin bars........only joking!

Hvala lepa.

Phiz
  • #273
  • Aug 18, 2010 3:27pm Aug 18, 2010 3:27pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Petar_Serbia
Thanks for help Tuner


I see now yes it good setup but i think you must put arowos to show on thid candle no on fourth...
You're welcome

for the indi. The arrow on the fourth candle makes sense if you watch it live. Third candle close = fourth candle open. So if you just see it happen it it clear. if you look back to finished setups the arrow under (or above for shorts) the candle makes it a bit hard to figure out.

But you agree that the rools seem to be implemented correct?
"Blue Horseshoe loves Anacott Steel!"
  • #274
  • Aug 18, 2010 3:27pm Aug 18, 2010 3:27pm
Petar, thanks very much for all you do, trying to civilize to a lot of us.

I've been reading this 19 pages of posts, and u can imagine that a lot of stars are shining into my eyes.

I think and hope I understood almost all the system, I have your same problem...english is not my first lenguage.

Well, this is just to say thanks, tomorrow I start hollydays but will follow the chat, just to remind and improve my acknowledgements on your system.

Congratulatins.

James.
  • #275
  • Aug 18, 2010 3:36pm Aug 18, 2010 3:36pm
Quoting Tuner
You're welcome

for the indi. The arrow on the fourth candle makes sense if you watch it live. Third candle close = fourth candle open. So if you just see it happen it it clear. if you look back to finished setups the arrow under (or above for shorts) the candle makes it a bit hard to figure out.

But you agree that the rools seem to be implemented correct?
Looks ok


We will see in future

Now we need just dashobrd to falaow all pairs on all frames lo


Petar
"Buy on fear, sell on greed !!!
  • #276
  • Aug 18, 2010 3:39pm Aug 18, 2010 3:39pm
Quoting James Pier
Petar, thanks very much for all you do, trying to civilize to a lot of us.

I've been reading this 19 pages of posts, and u can imagine that a lot of stars are shining into my eyes.

I think and hope I understood almost all the system, I have your same problem...english is not my first lenguage.

Well, this is just to say thanks, tomorrow I start hollydays but will follow the chat, just to remind and improve my acknowledgements on your system.

Congratulatins.

James.
You are welcome my friend


I am happy if you can take pips with this formation,use this formation like new weapon on Forex world and trade safe with good MM..


Cheers
"Buy on fear, sell on greed !!!
  • #277
  • Aug 18, 2010 3:52pm Aug 18, 2010 3:52pm
Quoting Dezil
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

It doesn't meet the 50% rule.

Look at the set-up I have marked below.
To meet the 50% rule, the low of the LC would have to reach the horizontal line I have drawn. It doesn't. It stops 5 pips above it.

This is the way he explained it several times. I see he says this looks good, so he may have already changed the rule.
Who knows.

Also, the arrows are distracting. The dots are enough.
Attached Image (click to enlarge)
Click to Enlarge Name: lc.jpg Size: 137 KB
  • #278
  • Aug 18, 2010 3:56pm Aug 18, 2010 3:56pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Petar_Serbia
Looks ok

We will see in future

Now we need just dashobrd to falaow all pairs on all frames lo

Petar
Ya. dashboard to watch them all.. and email-alert posted when setup occurs.
(--> so I can check and enter from my mobile phone while I am at work haha)

I think you already discussed it yesterday: If you have the 50% rule already fulfilled with candle one you could also enter earlier (before third candle is finished) If feel "sure" that the third candle will not invalidate the setup (by making a new high/low for example)

Depends on your own style and how you implement the formation to your strategy.
If I look at a strong area of support / Resistance for example. and we already bounced from there with a nice pin formed and closed as potential signal candle. (fulfilled the 50% rule with the previous candle) I would consider to enter already when the third candle is still in the making.

But everyone has to decide that for himself..
"Blue Horseshoe loves Anacott Steel!"
  • #279
  • Edited 7:04pm Aug 18, 2010 3:59pm | Edited 7:04pm
I add new Indicator, I hope to be functional and adhered to the rules. I appreciate comments,

Ducke
Attached Image (click to enlarge)
Click to Enlarge Name: newpetardo_ok.gif Size: 34 KB
Attached File(s)
File Type: mq4 NewPetardo.mq4   6 KB | 480 downloads
  • #280
  • Aug 18, 2010 4:04pm Aug 18, 2010 4:04pm
Quoting billbss
It doesn't meet the 50% rule.

Look at the set-up I have marked below.
To meet the 50% rule, the low of the LC would have to reach the horizontal line I have drawn. It doesn't. It stops 5 pips above it.

This is the way he explained it several times. I see he says this looks good, so he may have already changed the rule.
Who knows.

Also, the arrows are distracting. The dots are enough.
billbss you are still here,hmm

Man be more positive,

I just take a look i didnt look all charts all timeframes to see that...

Try to be more positive

All rules are same from first post,i exlpaned all in one picture...

Petar
"Buy on fear, sell on greed !!!
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