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H4 Power

  • #661
  • Sep 15, 2013 10:00pm Sep 15, 2013 10:00pm
It seems to me interesting.. I was unknown how to identify Engulfing without Candlestick You are using bar chart which is more clearer than candlestick
  • #662
  • Sep 17, 2013 11:20am Sep 17, 2013 11:20am
Hello

This is my first post here. This thread seams to be very intersting. So what are you traders looking for this week?

Hope to see more charts in here with sucess trades.

All the best

Cosmos1
  • #663
  • Sep 23, 2013 7:37pm Sep 23, 2013 7:37pm
Hi 60min, great stuff you have posted. Love to master this and simplify my trading.

If you're not too busy, mind sharing the pairs you are monitoring now?

thanks!
  • #664
  • Sep 25, 2013 1:12am Sep 25, 2013 1:12am
Hello guys.
Watching 28 pairs & looking for engulfing bar on various timeframe is a time consuming task for me. So I create this indicator to help me spot engulfing candle quickly with popup alert. It really helps my trading routine. I share it here as a contribution to Forex Factory community. I hope you guys can benefit from it too. I appreciate if you have any feedback or suggestion to make this indicator perform better.
Attached Image

Attached File(s)
File Type: ex4 Sentry.ex4   10 KB | 1,110 downloads
  • #665
  • Sep 25, 2013 1:47am Sep 25, 2013 1:47am
AUDCAD short. H4 M15 combo.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD # 1.png Size: 32 KB
  • #666
  • Sep 25, 2013 8:05am Sep 25, 2013 8:05am
Pipmunks - I'm not quite clear on this strategy although I do understand EB, IB, OB, etc. so excuse the question: on the M15 TF do you wait for the same signal to appear or just wait for the 15m pullback to reverse? Your chart posting would suggest you wait for"Sentry" to give a M15 signal. Great contribution, thank you. p
  • #667
  • Sep 25, 2013 8:20am Sep 25, 2013 8:20am
Quoting piprac
Pipmunks - I'm not quite clear on this strategy although I do understand EB, IB, OB, etc. so excuse the question: on the M15 TF do you wait for the same signal to appear or just wait for the 15m pullback to reverse? Your chart posting would suggest you wait for"Sentry" to give a M15 signal. Great contribution, thank you. p
Yes you're right. After find H4 engulf, we drill down to M15 to find pullback and continuation, confirmed by M15 engulfing candle. That indicator is just a visual aid. Do not blindly enter on M15 engulf. If you find the PA/candle before the M15 engulfing too choopy, better wait for clear movement. Pullback then continuation. That's the key.
  • #668
  • Sep 25, 2013 2:03pm Sep 25, 2013 2:03pm
Quoting pipmunks
AUDCAD short. H4 M15 combo. {image}

Hi, I can see that you sold at H4 chart at price level near by support which was created by 5-6 candles on the left. It means that price could easily bounce from the level. As for the stop level, I think it could be better to put it higher then prior red candle high.
  • #669
  • Sep 25, 2013 6:56pm Sep 25, 2013 6:56pm
Quoting J_Harrison
{quote} Hi, I can see that you sold at H4 chart at price level near by support which was created by 5-6 candles on the left. It means that price could easily bounce from the level.
You're right, but as the H4 engulfed we are looking at the next D1 SR.
MT4/MT5 EAs/Indicators/Alerts coder
  • #670
  • Sep 25, 2013 7:37pm Sep 25, 2013 7:37pm
Quoting J_Harrison
{quote} Hi, I can see that you sold at H4 chart at price level near by support which was created by 5-6 candles on the left. It means that price could easily bounce from the level. As for the stop level, I think it could be better to put it higher then prior red candle high.
Good observation. Yes that's true, I'm selling near support level. What factor that make me confident to enter that trade?
In that M15 chart, price bounce from possible support level, creating pullback.Notice how M15 signal candle engulf the entire M15 pullback in just 1 candle. That's mean big momentum coming & price can easily break that level.
Besides, it true what FerruFx said, on H4 engulf we look for D1 SR for possible target.

About that stop level, it's original place was above high of signal candle. That SL already moved to reduce my risk.
  • #671
  • Sep 26, 2013 4:49am Sep 26, 2013 4:49am
Quoting pipmunks
Hello guys. Watching 28 pairs & looking for engulfing bar on various timeframe is a time consuming task for me. So I create this indicator to help me spot engulfing candle quickly with popup alert. It really helps my trading routine. I share it here as a contribution to Forex Factory community. I hope you guys can benefit from it too. I appreciate if you have any feedback or suggestion to make this indicator perform better. {image} {file}
Hi pipmunks,

thanks for sharing the indie, works nicely. Just one question if you don't mind: how do I get rid of the popup alerts? Eve istrytime I switch between time frames it pops up again and again. Eventually it gets a bit annoying.

cheers

spock
Be water, my friend
  • #672
  • Sep 26, 2013 6:58am Sep 26, 2013 6:58am
Quoting spocktrader
{quote} Hi pipmunks, thanks for sharing the indie, works nicely. Just one question if you don't mind: how do I get rid of the popup alerts? Eve istrytime I switch between time frames it pops up again and again. Eventually it gets a bit annoying. cheers spock
You have two option :
1.Set all alert parameter to false.
Attached Image


or

2.Set all alert parameter to true, but increase the alert interval value.
Alert interval value calculated in second. If the indicator popup an alert, it can't popup an alert again until the alert interval value passed.
Attached Image
  • #673
  • Oct 2, 2013 6:08pm Oct 2, 2013 6:08pm
Pipmunks Hi .., why the indicator does not show me all the engolfs that take place in the graph?
thank you
jvbs
Attached Image (click to enlarge)
Click to Enlarge Name: pip mups.png Size: 33 KB
Work very hard until you get there (excuse my english)
  • #674
  • Oct 2, 2013 8:19pm Oct 2, 2013 8:19pm
Quoting jvbs
Pipmunks Hi .., why the indicator does not show me all the engolfs that take place in the graph? thank you jvbs{image}
I use slightly different criteria in that indicator.
For Bullish engulfing candle, the Low must be lower than previous candle. For Bearish engulfing candle, the High must be higher than previous candle. So it's more like hybrid of OB & simple engulfing candle.

I find this type engulfing candle have a better win ratio than simple engulfing candle especially on lower TF like M15. For 4H direction, I still use simple engulfing criteria (only body engulf).
  • #675
  • Oct 3, 2013 6:50pm Oct 3, 2013 6:50pm
Quoting pipmunks
{quote} I use slightly different criteria in that indicator. For Bullish engulfing candle, the Low must be lower than previous candle. For Bearish engulfing candle, the High must be higher than previous candle. So it's more like hybrid of OB & simple engulfing candle. I find this type engulfing candle have a better win ratio than simple engulfing candle especially on lower TF like M15. For 4H direction, I still use simple engulfing criteria (only body engulf).
thanks pipmunks.
jvbs
Work very hard until you get there (excuse my english)
  • #676
  • Oct 6, 2013 4:41am Oct 6, 2013 4:41am
Quoting pipmunks
Hello guys. Watching 28 pairs & looking for engulfing bar on various timeframe is a time consuming task for me. So I create this indicator to help me spot engulfing candle quickly with popup alert. It really helps my trading routine. I share it here as a contribution to Forex Factory community. I hope you guys can benefit from it too. I appreciate if you have any feedback or suggestion to make this indicator perform better. {image} {file}
Hello pipmunks,
Since you know how to program it would be interesting to have a dashboard which shows the presence of a engullfing bar per unit time : H4, H1, 30, 15, 5?
  • #677
  • Oct 6, 2013 5:04am Oct 6, 2013 5:04am
Hi all members iam new to forex trading and hope you will give me some guidelines to survive on the market especially 30 min t/f and
  • #678
  • Oct 7, 2013 1:08am Oct 7, 2013 1:08am
Quoting pipmunks
{quote} I use slightly different criteria in that indicator. For Bullish engulfing candle, the Low must be lower than previous candle. For Bearish engulfing candle, the High must be higher than previous candle. So it's more like hybrid of OB & simple engulfing candle. I find .....
hey pipmunks, thanx for the additional info.

I've done some back testing just on the H4 charts of a few pairs (AUDUSD & EURUSD) and am struggling to see how it is a profitable strategy, as the ranging periods wipe out the profits of trending periods. Am i missing something, or should i be filtering out ranging periods ? I'm not even at the point of drilling down to M15 yet, so any help would be appreciated.
  • #679
  • Oct 7, 2013 6:52am Oct 7, 2013 6:52am
Quoting anton609
{quote} hey pipmunks, thanx for the additional info. I've done some back testing just on the H4 charts of a few pairs (AUDUSD & EURUSD) and am struggling to see how it is a profitable strategy, as the ranging periods wipe out the profits of trending periods. Am i missing something, or should i be filtering out ranging periods ? I'm not even at the point of drilling down to M15 yet, so any help would be appreciated.
Only scalpers should trade the sideways action. If I can't confirm a trend on at least 3 TFs I look at another pair. Granted your testing was just 2 prs so maybe you have to expand your possibilities. I haven't taken a trade since 9/26, just waiting for the Washington dumbness to finally get resolved. p.
  • #680
  • Oct 7, 2013 9:06am Oct 7, 2013 9:06am
Quoting balouf
{quote} Hello pipmunks, Since you know how to program it would be interesting to have a dashboard which shows the presence of a engullfing bar per unit time : H4, H1, 30, 15, 5?

Dashboard would be a nice tool . But atm I don't have much time to make any program. Maybe on the next weekend or maybe FerruFx can help on this task. He's a great coder.
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