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123PatternsV6 revisited

  • #341
  • Edited 4:37am Feb 9, 2012 4:22am | Edited 4:37am
Hello all!

I've installed both 123PaternsV6 and 123PaternsV7 on the same M5 chart and I like signals they produce.

But I've found that 123PaternsV7 does not update along with prices flow.
I mean that when initialized it shows signals and that's it.
While 123PaternsV6 does process new bars as they arrive, 123PaternsV7 does not.

How can this be fixed?
Thanks!

PS. I set VolFilter = False. Maybe this has caused the problem.
I found that with VolFilter = False the indicator shows better signals (for me).
Also I do not trust Volume values in the forex market.
Since they are just ticks density, not real contracts volume.
Thus if some banks fill multimillion contracts there will be few ticks ("volumes") but a huge price shift.
  • #342
  • Feb 11, 2012 12:09am Feb 11, 2012 12:09am
kumusta Rob?
botsog
  • #343
  • Feb 12, 2012 10:30pm Feb 12, 2012 10:30pm
Hi Robdee!

I have been studying forex trading for some months and doing practice trades on a few systems available in FF. I find 123 Patterns system is interesting and viable. Your team efforts in getting the system improved and fine-tuned and in helping others is really praisworthy. At the moment I'm going thro' the key thread posts. Many thanks

Nimal
  • #344
  • Feb 23, 2012 4:05am Feb 23, 2012 4:05am
Hi Robdee!

Please consider to upgrade the indicator in the following way:

...

extern bool ShowComment = True;

...

//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
// REDRAW ONLY ONE TIME PER CANDLE
if (redrawtime == Time[0]) // if already redrawn on this candle then do no more
{
if (ShowComment) // IF USER WANTS COMMENT
StatusMessage();
return(0);
} // if already redrawn on this candle then do no more

else redrawtime = Time[0]; // remember when the indicator was redrawn

...

// update the status display
if (ShowComment)
StatusMessage();
}// end of start()

...

Thanks!
  • #345
  • Mar 7, 2012 7:22am Mar 7, 2012 7:22am
Quoting DragonEye
Hello all!

I've installed both 123PaternsV6 and 123PaternsV7 on the same M5 chart and I like signals they produce.

But I've found that 123PaternsV7 does not update along with prices flow.
I mean that when initialized it shows signals and that's it.
While 123PaternsV6 does process new bars as they arrive, 123PaternsV7 does not.

How can this be fixed?
Thanks!

PS. I set VolFilter = False. Maybe this has caused the problem.
I found that with VolFilter = False the indicator shows better signals (for me).
Also I do not trust Volume values...
---------------------

is the volfilter compulsory ??

thanks
BROKENGLISH
  • #346
  • Mar 7, 2012 7:23am Mar 7, 2012 7:23am
Quoting DragonEye
Hi Robdee!

Please consider to upgrade the indicator in the following way:

...

extern bool ShowComment = True;

...

//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
// REDRAW ONLY ONE TIME PER CANDLE
if (redrawtime == Time[0]) // if already redrawn on this candle then do no more
{
if (ShowComment) // IF USER WANTS COMMENT
StatusMessage();...
--------------------------------------

regards
BROKENGLISH
  • #347
  • Mar 7, 2012 7:55am Mar 7, 2012 7:55am
Guys trying to trade 123 s is dead, ok you may get the odd good run but today's market is all about stop hunting, evolve and survive.
I use to trade cubbys old 123 whilst reasonably good at the time try to trade it now and you'll see, not a critisism just observation.
  • #348
  • Mar 10, 2012 5:33pm Mar 10, 2012 5:33pm
dear sirs i have 123v7 b ut no arrrows whats wrong?
  • #349
  • Mar 10, 2012 9:53pm Mar 10, 2012 9:53pm
Quoting forex1962
Guys trying to trade 123 s is dead, ok you may get the odd good run but today's market is all about stop hunting, evolve and survive.
I use to trade cubbys old 123 whilst reasonably good at the time try to trade it now and you'll see, not a critisism just observation.
depends on your timeframe and how tight your stops are....if you are on 1hr or higher and willing to risk at least 50 pips - aint nothing wrong with it and risk to reward ratio is intact.

now if you are trying to trade it on 5 min - you are experiencing some serious churn right about now.
  • #350
  • May 16, 2012 3:05am May 16, 2012 3:05am
Good day Robdee

I've been following your thread for sometime now and I find your concept of 1-2-3 pattern trading very interesting.

What actually catch my attention the most is your circle bars. I have always been fascinated by cycles in the financial market.

Do you mind sharing the cycle bar that shows date at key turning point with me. I will like to study it and probably add my idea to it and make it better.
  • #351
  • Edited 6:41am Oct 16, 2012 6:30am | Edited 6:41am
Hello

is that this indicator is multi time frame (MTF) or only 5 minutes ?

thanks
  • #352
  • Dec 9, 2012 6:06am Dec 9, 2012 6:06am
Hi RobDee, sorry for my poor english, I'm calling from Brasil.
I love your 123Pattern.
Is it possible inform which is the best indicator to work together with 123PatternV6?
Thanks,
Sergio Bentes
  • #353
  • Dec 25, 2012 9:01am Dec 25, 2012 9:01am
Hi, RobDee;

First of all, Happy new year, and merry Christmas to you (If you are celebrating); also happy holiday.

you done a great job on the 123 pattern indicator. I am running simulation, which is very profitable.

Well, little bit more to ask, as I am not good at counting 123; if you can add in the 123 numbers, and arrow (As V6), it will be much more helpful for people like me.

Thanks.
  • #354
  • May 23, 2013 9:44am May 23, 2013 9:44am
It is very nice to combine 123Paterns with Zigzag indicator; but while working with the standard ZigZag, proposed by MetaQuotes, I have found some errors. The main problem is that it doesn't proceed the case of the outside bar properly. At first, i just want to initiate a new post to talk about the errors and optimization of Zigzag indicator. but I am only a junior number which is not authorized to do that by FF. I don't know if someone else found the Zigzag had some paradox inherent in its plotting as me. By the way, could anyone tell me how to be a certified member of FF? thanks.
  • #355
  • May 24, 2013 10:40am May 24, 2013 10:40am
+50 +13 +20 +18 +BE +35 +16 +25 = 177 pips on EU today. First signal I missed. 2nd signal I reversed because it was to close to the fibo and MA. The 3rd signal I reversed because it did not agree with my filters. The BE I closed because it was against my filters and in hindsight I should not have taken it.

Nice Indi RobDee, I use the 123 reversal everyday in my trading, have done for years. But there is no doubt that this works very well provided a good filter is used, I use the TDI and stochastics from the TMS method along with Fibos and the 50 and 200EMA.

The second chart I have marked up with the 123s as I saw them. matches up pretty well.

Thanks Robdee. Shame the thread died.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 123.png Size: 39 KB
Click to Enlarge Name: My 123s.png Size: 43 KB
Cut your Losers short and let your Winners run.
  • #356
  • May 28, 2013 8:22am May 28, 2013 8:22am
Here is one in progress. SL is at B/E so it can do what it wants. But this Indi does work if you know how to filter it.
Attached Image (click to enlarge)
Click to Enlarge Name: 123 trade mt4.png Size: 40 KB
Cut your Losers short and let your Winners run.
  • #357
  • Edited 8:48am May 28, 2013 8:26am | Edited 8:48am
Would you look at that! Just kissed the TP but didn´t fill it. I´ll leave it see if it squeezes down another couple of pips. Although the Oscillators are showing a potential turn back up.
Attached Image (click to enlarge)
Click to Enlarge Name: 123 Trade pt2.png Size: 40 KB
Cut your Losers short and let your Winners run.
  • #358
  • Edited 8:48am May 28, 2013 8:37am | Edited 8:48am
That´s number 3 in the bank. +20 +25 +20 = +65 pips today so far.
Attached Image (click to enlarge)
Click to Enlarge Name: 123 trade 20 pips.png Size: 39 KB
Cut your Losers short and let your Winners run.
  • #359
  • May 28, 2013 8:54am May 28, 2013 8:54am
Nice trading dee50. Can you please explain how you use your additional indicators as a filter?
  • #360
  • Edited 9:40am May 28, 2013 9:25am | Edited 9:40am
Last one for today +20pips. Didn´t take the signal straight away because of the news. Used the 100% expansion for the TP.

txfx. It is not rocket science, put the Oscillators on a chart then mark the signals with a vertical line. Do the oscillators agree with the signal. Is there divergence. Does everything agree, if not then pass and wait for the next one. Look at the first signal, LH edge of the shaded area, BRN very near, Oscillators in OS and possible Bullish Divergence, is this a good short signal? Just repeat this exercise for each signal. It significantly reduces the number of losers.
Attached Image (click to enlarge)
Click to Enlarge Name: 123 + news +20.png Size: 36 KB
Cut your Losers short and let your Winners run.
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