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Easy entry system: coloured candles

  • #141
  • May 11, 2012 1:56pm May 11, 2012 1:56pm
Thanks again Kraven

Looking forward to next week
forward testing this with a nice little 3 amigos set-up and some profiles to go up and down time frames

So far with tight MM it looks promising
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  • #142
  • May 11, 2012 6:46pm May 11, 2012 6:46pm
Quoting eltax100
Thanks again Kraven

Looking forward to next week
forward testing this with a nice little 3 amigos set-up and some profiles to go up and down time frames

So far with tight MM it looks promising

No problem. some nice moves on the GU and AU


I have been testing this on EU now for a little over 3 weeks and it has been excellent. Hopefully this will continue with the 4hr/15min combo. my main problem is missing most of the entries so i might open another pair or 2 for next week. See how that goes, then i have a small account to go live
  • #143
  • May 12, 2012 9:33am May 12, 2012 9:33am
I have never had so much trouble loading indicators even though I have Build 419. I can't get the CCI "dots" to show on the chart. Where do I find it and where does it go: experts > indicators? I think I have all of the other basics but can't get the dots up. I would appreciate some help, thnk you.
  • #144
  • May 12, 2012 10:37am May 12, 2012 10:37am
Quoting piprac
I have never had so much trouble loading indicators even though I have Build 419. I can't get the CCI "dots" to show on the chart. Where do I find it and where does it go: experts > indicators? I think I have all of the other basics but can't get the dots up. I would appreciate some help, thnk you.
cci is arrow. dots is ultra signal.
on post 2.
  • #145
  • May 12, 2012 12:15pm May 12, 2012 12:15pm
Quoting driftwood
cci is arrow. dots is ultra signal.
on post 2.
Thank you so much driftwood, now I can test this strategy for myself this coming week. p.
  • #146
  • May 13, 2012 2:50am May 13, 2012 2:50am
Quoting Athravan
Promised I'd post my charts from last night.

Attachment

Attachment

Attachment

Hope you can see the arrow next to 'Entered Here' and also the green horizontal line labelled 'My TP'

Regards
Ath
looks like you went short on last but one red arrow (chart 3 )
there was a red bar but still on yellow spot ? worked out well though
  • #147
  • May 13, 2012 3:30am May 13, 2012 3:30am
Hi Kraven
Looking for multiple time frame confirmation is a great way to go. Having an indi to define your trend is also fine, otherwise you'd also be chucking out virtually every other methodology e.g. trading above below a ma. That's exactly the same concept i.e. using an indi to define trend.

A 45 CCI on a 4hr chart is much higher than the typical 14 setting. The only issue you have is when the market might be turning and taking a few days to sort itself out (so lets describe that as ranging).

If you want to see how system performs look at X days in uptrend, downtrend and yes when market is ranging. On D chart 27 Mar-2 April was horrible. On 4hr it was solid green so that takes out a whole load of counter trend 15 min sells. I also see a lot of none rules compliant buys = no trades.

Whilst I have to do a lot more investigation having an indi definition of trend is fine, having MTF check is fine, having entry from pullback on LTF is fine.

I've shown 4hr for the above period and an example of 15 min. Watch for times of news, previous proven SR levels, space between entry and next SR level and other basic trading requirements and ask would any other method have performed better.

All the best. Definitely worth watching.

Regards
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  • #148
  • May 13, 2012 4:25am May 13, 2012 4:25am
@robuk

I agree it worked out well in the end, but the point I was trying to make in post 125, was that I had ignored the rules of entry.

In all three instances the market almost immediately turned against me, and I could have panicked and pulled my orders. I needed to see what happened next; either I would get my arse kicked by the market, or the trend would follow through and I would get my profit...

@Vantage

I'm not sure I understand - I may be mistaken (and Kraven may need to correct me here as well!), but the rules of the system would have meant that I would have only taken a buy trade on the very last green arrow on your M15 chart (the one just below the 61.8 line).

Are you saying that there were more trades available then the rules allow you to take? If so, does this system only allow you to take the 'safest' ones?

Regards
Ath
  • #149
  • May 13, 2012 5:40am May 13, 2012 5:40am
Quoting Athravan
@robuk

I agree it worked out well in the end, but the point I was trying to make in post 125, was that I had ignored the rules of entry.

In all three instances the market almost immediately turned against me, and I could have panicked and pulled my orders. I needed to see what happened next; either I would get my arse kicked by the market, or the trend would follow through and I would get my profit...

@Vantage

I'm not sure I understand - I may be mistaken (and Kraven may need to correct me here as well!), but the rules of the system would...

Ath,

I belive on the vantage graphs, that the first green arrow is a valid losing trade, since on the h4 the trend was up and the price broke up the signal candle correct?
  • #150
  • May 13, 2012 6:38am May 13, 2012 6:38am
@migmac

On Vantage's graph I can see 11 arrows after the (almost) vertical red dotted line...

I really need Kraven to confirm I have interpreted the rules correctly, but here is how I see it:

I can see three arrows where all the colours match up correctly:

Arrow 4 (red arrow, red trend dot, red candle)
Arrow 8 (red arrow, red trend dot, red candle)
Arrow 11 (green arrow, green trend dot, green candle)

Arrows 4 and 8 are against the H4 trend so I wouldn't have entered, but Arrow 11 is with the H4 trend, so I would enter.

All the other arrows are a mix of colours...

You could argue that arrow 5 was a good place to enter, as the red trend was weakening and S&R came into play, but I really need to learn a lot more about S&R before I try...

Does that help?

Regards
Ath
  • #151
  • May 13, 2012 6:55am May 13, 2012 6:55am
Quoting Athravan
@migmac

On Vantage's graph I can see 11 arrows after the (almost) vertical red dotted line...

I really need Kraven to confirm I have interpreted the rules correctly, but here is how I see it:

I can see three arrows where all the colours match up correctly:

Arrow 4 (red arrow, red trend dot, red candle)
Arrow 8 (red arrow, red trend dot, red candle)
Arrow 11 (green arrow, green trend dot, green candle)

Arrows 4 and 8 are against the H4 trend so I wouldn't have entered, but Arrow 11 is with the H4 trend, so I would enter.

All the other...

Ath,

I agree with all what you just said, on the arrow 5 I will had placed a pending order at the break of the candle which will not have been filled and I will have deleted before the weekand

But I was refering to the first green arrow just on the second candle in the M5 graph, I would have enter there and lost, if the graph was just intended to show the arrows after the fibs them sorry my mistake
  • #152
  • May 13, 2012 7:28am May 13, 2012 7:28am
Sorry mig - I'm with you now - I was only looking at the fib area that Vantage had highlighted.

Looking at the candle you highlighted, then I guess it depends on your TP, as I would have entered on that arrow as well.

I have been setting mine to 10 pips (mistakenly thinking this was 100 if you read my earlier posts ), and that would have been profit.

Even letting it run for 3 hours, you could have taken approximately 30 pips from that run.

Regards
Ath
  • #153
  • May 13, 2012 9:02am May 13, 2012 9:02am
Quoting Athravan
@robuk

I agree it worked out well in the end, but the point I was trying to make in post 125, was that I had ignored the rules of entry.

In all three instances the market almost immediately turned against me, and I could have panicked and pulled my orders. I needed to see what happened next; either I would get my arse kicked by the market, or the trend would follow through and I would get my profit...

@Vantage

I'm not sure I understand - I may be mistaken (and Kraven may need to correct me here as well!), but the rules of the system would...
i was refering to chart 3 post 140
  • #154
  • May 13, 2012 9:09am May 13, 2012 9:09am
So one thing I'm unclear on. You get your H4 trend. 15M dot, arrow and candle agree. Stop order at break of that candle.

But how long is that break order good for. How many candles do you wait before that setup is no longer valid?

Thanks
  • #155
  • May 13, 2012 9:15am May 13, 2012 9:15am
@robuk

So was I! I don't understand what you're asking - as I wouldn't normally have entered as the colours weren't all lined up. I thought it would go wrong but it didn't....

@spyderman

Good question - would take someone more experienced than me to help I think. I'm intending to go longer on the timeframes, and see if I can adopt a 'set and forget' mentality. I've seen some EAs around that will move your SL and TP as the trend continues - I might experiment with those when I can figure out how to use them.

I'm still on demo - still finding my feet.

Regards
Ath
  • #156
  • May 13, 2012 9:46am May 13, 2012 9:46am
Quoting Athravan
@spyderman

Good question - would take someone more experienced than me to help I think. I'm intending to go longer on the timeframes, and see if I can adopt a 'set and forget' mentality. I've seen some EAs around that will move your SL and TP as the trend continues - I might experiment with those when I can figure out how to use them.

I'm still on demo - still finding my feet.

Regards
Ath
I'm not sure you understood my question. My bad. I wasn't referring to an exit strategy. I was referring to the entry.

How long do we wait for the signal bar high/low to be broken before cancelling the entry?
  • #157
  • May 13, 2012 10:01am May 13, 2012 10:01am
Quoting Athravan
@robuk

So was I! I don't understand what you're asking - as I wouldn't normally have entered as the colours weren't all lined up. I thought it would go wrong but it didn't....

@spyderman

Good question - would take someone more experienced than me to help I think. I'm intending to go longer on the timeframes, and see if I can adopt a 'set and forget' mentality. I've seen some EAs around that will move your SL and TP as the trend continues - I might experiment with those when I can figure out how to use them.

I'm still on demo - still finding...
i had missed the fact you were refering back to post 125.i got it now , thanks
Rob
  • #158
  • May 13, 2012 10:32am May 13, 2012 10:32am
Quoting Athravan
@Vantage

I'm not sure I understand - I may be mistaken (and Kraven may need to correct me here as well!), but the rules of the system would have meant that I would have only taken a buy trade on the very last green arrow on your M15 chart (the one just below the 61.8 line).

Are you saying that there were more trades available then the rules allow you to take? If so, does this system only allow you to take the 'safest' ones?

Regards
Ath
Kraven by his own admission is fairly new to this method and without seeing where the system came from a healthy dose of checkthisoutitis is called for.

2 questions. It looks pretty good at first glance in trend so the obvious thing is to have a careful look at times when market has proved to be ranging. A quick look suggests in that short ranging period I looked at it didn't do a lot of damage. If your method stands/doesn't nail you too badly in those circumstances you should be ahead of the game.

Then can the settings be reasonably improved? Or does it have a good enough win/reward ratio without this.

A 45 CCI on 4hr is roughly equal to a quick cci on D and same thing on 15 min, its roughly equal to a normal cci on 1hr. Basically you are trading then with D and 1hr in agreement as both colours must agree.

I think there are potentially more trades but only investigation will tell.
  • #159
  • May 13, 2012 10:58am May 13, 2012 10:58am
I like to look at a method and see if its an improvement on what I have now. 21 Feb a decent evening star pattern on D below a previous R level 5900. On 22nd I'd need a hell of a lot of convincing to be buying. 4hr misses this move but 1hr clear. 15 min has had 38% retrace so should be decent sell chance.

Picking 1 set up and moaning is not fair I agree, but there are several others I could post. I do know I'd want my method to catch this kind of move.

I don't know whats the answer as yet, 4hr/15 min, 1hr/15 min. I do know I'm interested and willing to see if it stands up as is or needs tweaking. it might just be a case of trading as normal and see if this provides additional opportunities down the road.

Will still be investigating and watching with interest.
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  • #160
  • May 13, 2012 11:57am May 13, 2012 11:57am
Quoting Vantage
I like to look at a method and see if its an improvement on what I have now. 21 Feb a decent evening star pattern on D below a previous R level 5900. On 22nd I'd need a hell of a lot of convincing to be buying. 4hr misses this move but 1hr clear. 15 min has had 38% retrace so should be decent sell chance.

I guess I may be missing your point Vantage. Are you saying we wouldn't have gotten an entry here. It would seem, based on your vertical lines, that we would have gotten an entry on the 15m. 4h shows red dot. 15 min. gets an arrow/candle, but no dot. But next candle we get the dot. I think Kraven would classify this as an entry candle and we would have gotten quite a ride down.
Quoting kraven
well the conditions i look for:

4hr red or green everything (ultra-signal dot, cci arrow, ultratrend candle)this to me means trend has been established for a short time.

15min (ultra-signal dot...plus either one of the arrow or candle, i prefer both but using just one has let me get in earlier)
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