Range Bar Basket System

Hi all:
I continue with my explanation of Level2 system implementation. All this dates are not real, its an aproximate.
Imagine we have a data base around 6000 1h bars that it is 1 year ago or 250 trading days.
Now you think that there is an average of two RB daily. Then we have 500 RB at period time.
Normally when a RB is formed price hit limits range several times until range is broken.
Now the question is to determine the average number of times that price touch this limits at every 1h RB and build a percentage classification of this dates. For example.
Price touch 1 time limits and then breakout……… 5% of 1h RB.
Price touch 2 times limits and then breakout…… 5% 1h RB.
Price touch 3 times limits and then breakout……. 10% 1h RB.
Price touch 4 times limits and then breakout……. 20% 1h RB.
Price touch 5 times limits and then breakout…… 35% 1h RB.
Price touch 6 times limits and then breakout….. 30% 1h RB.
Price touch 7 times or more limits and then breakout……. 5% 1h RB.
With this classification we can elaborate a system that enter buy and sell orders when price hit range limits at consonance with percentage data base.
If we can find a percentage range thats give us a matematic success probability we can enter buy and sell orders to capture profit when price is ranging leaving open the last order to capture trend.
Think in it please. I continue.
Regards.

For me the 14 pair trade would have just been taken @ 86.19
Initial target 89.62

M.

PS. As002 ... yes it puts in the Rb H/L itself

Jaque
Do you have any real statistics on that or is it just an idea so far?

Hi Jaque,

Reading and trying to understand this thread. Look intersting.

Manage to set the H1 offline chart....

Now what don't understand, which curreny does the #kos#14 represent and which currency pair do I trade?

Very sorry if my question weird....

Hi Isengoz

I received your pm and thought that i would respond here.

I have briefly read through Jaque's thread and more or less understand the strat.

I do not think that it will be too difficult to put into a TLE for auto trading, only problem is that i am swamped in work at the moment.
I will certainly give it a try when i get the chance.

Fortunately you have an excellent coder in FutureSpec here on the thread, so if i get stuck i am sure to holler.

Hope someone took that 14 pair. (mentioned above)
Nice 350 pips .... good 3-4 hours work :-)

M.

Hi all:
At last 3 hours I´ve been very busy and I could not publish any update.
This is step by step owervie of todays trades.
Chart #1: I buy at arrow and closed both positions at blade at BE (really minimal loss).
Chart #2: New RB is formed. I waited for closed previous buy position at BE. Then Buy again bc1-2 at arrow. ba1 position closed at target1 +220.
Chart #3: New RB is formed. I wait for retrace to enter buy position but im not sure that price retrace below 87.50 support. I see so strong trend UP.

Still continue open following buy position:
ba2: +460 p.
bc2: +330 p.

Regards

Good job futurespec, congratulations. First profit trade?.
Regards.

Wellcome to thread donwan:
Questions are wellcome.
Here you have crosses:
AUDUSD, EURJPY, EURUSD, USDCHF, GPBJPY, GBPUSD, EURGPB, CHFJPY, EURCHF, NZDJPY, GPBCHF, AUDJPY, USDJPY, NZDUSD.
When you enter a Buy order you are buying all these pairs.
Regards.

Thanks for your time and reply, George. Hope to see you here again soon.

Hi Jaque,

I would like to thank you for starting this thread , you have done a excellent job of describing your method I have read every post and looked at all the screenshots and it all makes perfect sense.

Buying at the low of the range is so obvious , but I never worked out how to do it before .....

Thank you..

Hi all:
Apologize but i cant publish any update untill next monday. Now im not at office im on holidays today and tomorrow.
Next monday i reply all questions and return at activity.
Today and tomorrow only i can do is monitoring ocassionally my computer.
Apologize again.
Regards.

Hi Jaque,
Np, have a good weekend.

NFP today anyway so best to be wary.

For any that are following then there was a setup this morning and already reached its' 150 first target.
(Horiz white lines drawn manually)

M.

Also on 6 pair trade coming up at 123.12
Only 100 pips and NFP.
Just trying an auto trade taking EA (That is the Triangle for any that ask)

M.

Thanks Jaque,

Looking at current situation, its a BUY at 89.565 ( if I'm not wrong ).

How does the BUY order been done?? Do it manually every pair?

Is there a way to be done with one click? OR BUY pending order?

Regards

First .... apologies for my post above ... I have lost a day somewhere and was thinking today was Friday.

Donwan... not sure where you got price from ... I do not agree with it???

For 1 click you need a script or EA to do it for you.

M.

EDIT: my set up for the 14 pair attached ... shows a buy at 87.93 ... although v close to support areas on 1hr.
Jaque is the one you need to give a more definite answer.

Hi All,

I stumbled on this thread last night (having heard from a veteran FF contributor that he finds range bars useful), and read it eagerly- the results are too good to be true. I really hope they come same on a live account, as Jacquemate has nicely indicated for himself !

What has occurred to me is that this Jacque-method is eerily similar to the Flying Buddha Volatility breakouts described by EasyPips on his Equity Millipede thread starting Post #845 in a few posts, as below:

http://www.forexfactory.com/showthre...29#post3948029

EasyPips starts by describing a past engulfing candle, while here Jacquemate talks about a 'big' candle that engulfs past smaller candles, and which is replaced by a new range bar if the hi-low price range is violated by a newer candle. The general Flying Buddha scalp method uses a formation clean above a 3/5 ema and then stacks entries and closes them as new conditions (candle open/close below the emas) arise. Very interesting ...

Perhaps the rules can be combined and an Indy/EA written, without re-inventing the wheel(s.) I do see the very code-accomplished futurespec leading with Q&A here

Regards,
Athar.

as jaque won't be here until monday, I think I can update yesterdays trades with a chart. I saw 2 opportunities for long which resulted in around 355 pips. as the price closed below the cloud I think time for a retrace has come. but I should tell that I didn't check the HTF charts. just my opinion...

by the way, futurespec if you can write code as GVC told us, could you take a look at the code of order management EA that Caillou referred. I saw some disabled strings related to pending orders, but I don't know how to enable them. I think this method is not possible for me without such an EA that I can't keep looking at the screen all day waiting for the price to hit the RB line. I'd be grateful if you could help.

GM all,

OK ... It is nice to read that several people have more faith in my coding than I do myself!
I will post my indi on the basis that you take it 'as is' and do not ask for continual updates/improvements.
I only did it for my own usage and I am happy to 'work around' any minor issues that it has.

1. It does NOT need offline charts ... that is why I tried to code it.
2. Every time MT4 is reloaded the chart needs the TF changing and back again for the correct bars to show.
3. Sometimes when doing this incorrect values may show ... just change TF again.
4. Currently mPairsUsedcan be set ONLY to 6 for my 6 pairs (first 6 pairs in list), 14 for Jaque 14pr basket and 99 for 6 GBP pairs.

"GBPUSD", "EURUSD", "AUDUSD", "GBPJPY", "EURJPY", "AUDJPY",
"EURGBP", "USDCHF", "NZDUSD", "USDJPY", "NZDJPY", "GBPCHF", "CHFJPY", "EURCHF"};

5. mHistEntry is number of bars back to check for RB's.
6. mMinDiff is minimum distance that a bar must close outside of previous RB for bar to be new RB.
7. I have set the history to 300 as I don't want to check before that.
8. Black and white lines are 21 and 50 SMA.
9. Lime & violet areas are my interpretation of Ichimoku
10. You will need to set the chart max/min on the chart to relevant values (chart/ properties/scale fix)
11. Put on a chart that has most ticks coming in.
12. You can change the chart TF at will so can get to see 4hr, Daily etc to check higher TF's

OK for now that is it; possibly forgot stuff.

REPEAT... take it as is or bin it. (If you do not like it do not use it!) It was coded for me, not for general release.

Trade entry EA to follow ... WIP.


M.

This is what my chart looks like (as you will have seen in previous posts)

The triangle, green line, red horiz line are form the trade EA and will not show on the indi.

M.