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123PatternsV6 revisited

  • #181
  • Dec 10, 2011 5:17am Dec 10, 2011 5:17am
Wed trades.
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  • #182
  • Dec 10, 2011 5:18am Dec 10, 2011 5:18am
Thurs trades.
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  • #183
  • Dec 10, 2011 5:18am Dec 10, 2011 5:18am
Fri trades.
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  • #184
  • Dec 10, 2011 5:25am Dec 10, 2011 5:25am
Ok this is not telling me anything I didn't expect I've been trading 1 2 3's (higher lows lower highs) for years. I am amazed how well this indi performs picking up the swings in a rotten sideways week.

Rob I would look to try and enter trades where candles have little/no wick (in direction of trade) but haven't yet crossed the 2 point. See the x trade, the indi showing trade on candle that crosses and closes below 2 point around 3362. I'd be looking to enter 3375 ish with the candle before which closes just above the 2 point but with little/no lower wick (when selling of course).
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  • #185
  • Dec 10, 2011 5:49am Dec 10, 2011 5:49am
Does the indicator repaint and if not when does the arrow appear after conditions are met or after 1 or 2 bar confirmation ie does the arrow appear if valid imm after close of signal bar

With ref to your wick req I used an ea based simply on 0 wick at the bottom for buy or top for sell using the wick 2.0 indictor t you cn find it on the forum )

Using simple global set and get functions

Thanks for your help
  • #186
  • Dec 10, 2011 10:00am Dec 10, 2011 10:00am
Quoting censura
Does the indicator repaint

With ref to your wick req I used an ea based simply on 0 wick at the bottom for buy or top for sell using the wick 2.0 indictor t you cn find it on the forum )
Hi
Due to business interests I am not able to watch charts live at the mo (which is why I'd love to get a usable 1 2 3 ea) so cannot comment on repaint. Robdee is very experienced and I don't think that he'd miss that one. The arrow shows after a candle closes past the line at the 2 point.

With wicks provided the body is much bigger than the wick I have used up to 3 pips wick, of course the smaller the better.
  • #187
  • Edited 12:40pm Dec 10, 2011 12:33pm | Edited 12:40pm
Vantage is correct in saying that the arrow prints after a candle closes beyond price point 2. The indicator is always looking back in time at the last three price points to see if they make a valid 123.

Quoting censura
Does the indicator repaint
Valid 123 patterns may later be rendered invalid by price action that exceeds the bounds of the original 1 2 3.

Also, distorted patterns (ie ShowAllBreaks=true) leads to redraw/repaints at times.
See previous posts on this topic...

 

  1. Arrows and distorted patterns Post #49
  2. 123 setup becoming invalid Post #1113

These are known limitations and are all being taken into account with the next version V7 which is currently in testing by myself and another trader.

Vantage suggestions for fine tuning entry options are appreciated and will be added in V7.

The logic used in V7 will not be complicated. It will be less complicated than V6. The logic for finding and acting on 123 patterns will essentially be the same as Vantage's recent posts.

I have a solid and proven EA code base so it will not be difficult to build an EA for this.

Robdee

  • #188
  • Dec 10, 2011 5:36pm Dec 10, 2011 5:36pm
rob and vantage, great indicator guys. the pattern indi works great and the alarm is even better. i trade this live on LO and US sessions.


thanks a lot
frank
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  • #189
  • Dec 10, 2011 7:51pm Dec 10, 2011 7:51pm
Thanks vantage for posting the weeks charts with your 123 settings I have changed the zigzag depth from 12 to 1 as you said and it looks really good in fact really really really good.
Rob agree with vantage you are on to something here thanks again for sharing you 123 indicator
  • #190
  • Dec 11, 2011 1:34am Dec 11, 2011 1:34am
Hi Rob
Just an example of aggressive entry on the pm I sent you. Here entry would be just below 3400, as opposed to waiting for 2 point to break. Just wanted to give you visual of the 1st neg close candle in trend move.

Thanks for your work here.
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  • #191
  • Dec 11, 2011 7:31am Dec 11, 2011 7:31am
Quoting Vantage
Hi Rob
Just an example of aggressive entry on the pm I sent you. Here entry would be just below 3400, as opposed to waiting for 2 point to break. Just wanted to give you visual of the 1st neg close candle in trend move.

Thanks for your work here.
hey Vantage that dashed "v" you marked on the chart is exactly where i would enter with my rr 1:3 as i told you in my pm. this "v" point illustrates it perfectly; a bigger 123 shown a few bars earlier and then an entry at a bit better price going short.

just saying.. you think differently and find the entry in another way, but we both find the same place to go in. makes me feel good :-) i am so on this train guys!
  • #192
  • Dec 11, 2011 11:27am Dec 11, 2011 11:27am
here is a picture of what i mean. i made up the difference from point 2 to point 3 and set it to 10. i have not measured it because that does not matter for what i am about to show.

on one side there is a trade with 10 pips risk for a possible gain of 10 pips. it is an rr of 1:1. on the other side there is an example of another trade with the same stop and target, though the entry is higher up giving us a better price. the entry i prefer here is the 1:3 where i am risking 5 to get 15.

who wouldn't right?? i am just saying :-) now you can see my point, hopefully.
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  • #193
  • Dec 11, 2011 12:04pm Dec 11, 2011 12:04pm
Quoting evilmeatball
hey Vantage that dashed "v" you marked on the chart is exactly where i would enter with my rr 1:3 as i told you in my pm. this "v" point illustrates it perfectly; a bigger 123 shown a few bars earlier and then an entry at a bit better price going short.

just saying.. you think differently and find the entry in another way, but we both find the same place to go in. makes me feel good :-) i am so on this train guys!
Yes you often get a smaller 1 2 3 after a bigger one and is a great place to enter. Aggressive entry before the traditional break of 2 point, it is well documented.

Like I have said before when selling I typically look for 1st neg close candle that has little/no lower wick and enter when candles low is broken with a pip (or so).

If in this example you take entry at the top of the hammer is that entry based on a fib of the 1 2 range? Just want to be totally clear on what you are looking for.
  • #194
  • Dec 11, 2011 12:10pm Dec 11, 2011 12:10pm
Quoting Vantage
When selling I typically look for 1st neg close candle that has little/no lower wick and enter when candles low is broken with a pip (or so).
Rob to be clear when selling 1st neg close after 3 point in a traditional 1 2 3.
  • #195
  • Dec 11, 2011 12:21pm Dec 11, 2011 12:21pm
Quoting Vantage
If in this example you take entry at the top of the hammer is that entry based on a fib of the 1 2 range? Just want to be totally clear on what you are looking for.
i am looking for a 123 setup and then i calculate where the entry "50% between 2 and 3" is, put my order there if it fits my other criterias.
  • #196
  • Dec 11, 2011 12:52pm Dec 11, 2011 12:52pm
Vantage, emb

Your recent charts and discussion are very helpful, great work!

I see three options for aggressive entry before the break of point 2.

1) Vantage's candle that closes with very little wick (ie not much opposite pressure) and occurs after price point 3 and before price point 2 has been broken. This provides a consistent approach to aggressive entry.

2) emb's entry line "50% between 2 and 3" providing better R:R ratio and another consistent approach to aggressive entry.

3) My favourite, "50% between 1 and 2" followed by preparing to exit/reverse on 210% (aka Fibo Targets).

See the case study that we have all been posting from 6 December...

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Keep clicking on this chart until you see the full size version.

123PatternsV6 shows the dots and arrows too late to suit the aggressive entry methods mentioned above.

I am working on V7 which will include some way of showing aggressive entries as they occur.

Robdee
  • #197
  • Edited 3:06pm Dec 11, 2011 2:30pm | Edited 3:06pm
Quoting robdee
I am working on V7 which will include some way of showing aggressive entries as they occur.
Here is a preview of V7 showing 'Vantage style' entries on that same day (6 Dec).

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V7 is still under construction.

Robdee
  • #198
  • Dec 11, 2011 3:47pm Dec 11, 2011 3:47pm
robdee that v7 looks very promising. is it too much to ask of the new v7 version to have a automatically calculating line of set % for my entry? i am thinking a box where you input how much pullback in % and then v7 draws a line at that point, calling it meatball or w/e.. could be useful for other people also, one might want to enter on a 20% pullback and another trader maybe likes 40% or so.

understand me? ideas?? all the best so far ! :-)
  • #199
  • Dec 11, 2011 5:52pm Dec 11, 2011 5:52pm
Hello robdee,

This is excellent thread, I was looking for something like this last months, especially I like emb's entry line "50% between 2 and 3" providing better R:R ratio.I think, this is very promising and long story.





Quoting robdee
Vantage, emb

Your recent charts and discussion are very helpful, great work!

I see three options for aggressive entry before the break of point 2.

1) Vantage's candle that closes with very little wick (ie not much opposite pressure) and occurs after price point 3 and before price point 2 has been broken. This provides a consistent approach to aggressive entry.

2) emb's entry line "50% between 2 and 3" providing better R:R ratio and another consistent approach to aggressive entry.

3) My favourite, [b]"50% between 1...
  • #200
  • Dec 11, 2011 5:59pm Dec 11, 2011 5:59pm
that looks solid doesn't it, gives u better piece of pie so to speak
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