Digamber Shankar PATIL's DSP Candle Strategy | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MT4 candle-by-candle manual backtesting 9 replies

How to make EA that send Open Price of Candle for every new candle 5 replies

Day's first H4 candle correlation to daily candle 14 replies

Correlation between first 4 hour candle and daily candle 1 reply

DSP and nonlinear math 0 replies

Attachments: Digamber Shankar PATIL's DSP Candle Strategy
Exit Attachments

Digamber Shankar PATIL's DSP Candle Strategy

  • #21
  • Nov 28, 2013 1:35am Nov 28, 2013 1:35am
Quoting qwertymyfx
I checked the candle length indicator but it's different on different tfs.
o
m
g
!!!
  • #22
  • Nov 28, 2013 3:20am Nov 28, 2013 3:20am
Quoting whatfx
{quote} your explanation leaves a lot to be desired. does not make sense. you show a DSP candle on the identifier and DSP candle on the chart as well. but there is supposed to be just one DSP candle. you say if both +ve and -ve are the same then the horizontal line is zero, but thats obviously gonna be zero. so what is your point ? in one of the above chart, i think the first one. step 2, you show the longest candle on the identifier as a bearish candle. yet on the chart you are taking the trade based on a bullish candle !! so what is going on ??...
Thanks for observations... Lots of questions.
Try to find answers to all your questions frm following chart.. it made $100+ on demo account.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 108 KB


All in all it worked for me.. and may work with others. What i did is just followed what mentioned in first post of this thread.

Frankly.. I don't have answers to your smart questions. Excuse me.
  • #23
  • Nov 28, 2013 3:22am Nov 28, 2013 3:22am
Quoting whatfx
{quote} your explanation leaves a lot to be desired. does not make sense. you show a DSP candle on the identifier and DSP candle on the chart as well. but there is supposed to be just one DSP candle. you say if both +ve and -ve are the same then the horizontal line is zero, but thats obviously gonna be zero. so what is your point ? in one of the above chart, i think the first one. step 2, you show the longest candle on the identifier as a bearish candle. yet on the chart you are taking the trade based on a bullish candle !! so what is going on ??...

Why is it confusing?

For a 24hr period that changes every 15 mins the largest bull/bear is recorded on the indicator, +ve and -ve..., which number is furthest away from the zero line? Match that to the candle and the direction has been decided.. two numbers the same... no trade, as no direction.

The largest bull/bear candle will remain there until its beaten by another one, or it drops out the back of the 24hr window in that case the largest bull/ bear within the current 24hr window will be the reference candle.

My current NU has +158 and -213 showing in the indi,, so bears in charge, look for break of the largest bear candle.

Having said that, does the method work, who know's...
  • #24
  • Nov 28, 2013 3:46am Nov 28, 2013 3:46am
Quoting moodybot
{quote} Why is it confusing? For a 24hr period that changes every 15 mins the largest bull/bear is recorded on the indicator, +ve and -ve..., which number is furthest away from the zero line? Match that to the candle and the direction has been decided.. two numbers the same... no trade, as no direction. The largest bull/bear candle will remain there until its beaten by another one, or it drops out the back of the 24hr window in that case the largest bull/ bear within the current 24hr window will be the reference candle. My current NU has +158 and...

So if bears in charge, why we are looking a long trade instead of short?
  • #25
  • Nov 28, 2013 3:55am Nov 28, 2013 3:55am
Quoting IenDzi
{quote} So if bears in charge, why we are looking a long trade instead of short?

Because on my NU 15 min, -213 is further away from the zero line than +158....... hence its short.....

And a secret bit of information,, don't tell every one, also open up the NU 30Min,H1,H4,D,W,M time frames and see whether going short
would be the the logical (remember this is forex so nothing is logical)...direction.
  • #26
  • Nov 28, 2013 4:21am Nov 28, 2013 4:21am
Quoting IenDzi
{quote} So if bears in charge, why we are looking a long trade instead of short?

Must admit I would look to go short on the NU according to the indicators and other time frames however Password would take it long... seems back to front, but hey... its forex, 50/50..flip a coin etc
  • #27
  • Edited 7:40am Nov 28, 2013 7:07am | Edited 7:40am
Another option would be to use the open of a DSP candle as target and trade the move back to the open once the DSP closed (near earlier DSP candle open level). Enter when you see some decent PA and fade the $h!t out of it.

One could say these DSP candles mark supply/demand zones because they move away so fast from a certain level. So there must have been a lot of people buying/selling at that level. And if they are supply/demand you could anticipate a breaktrough. I think this is what password is doing. You could also wait for a retrace after a close over the level.

Spudfyre does something alike, but incorporates volume: http://www.forexfactory.com/showthread.php?t=402865
  • #28
  • Nov 28, 2013 7:20am Nov 28, 2013 7:20am
Updated the first post to make it more precise. Here is the latest chart i trade...

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 106 KB
  • #29
  • Nov 28, 2013 7:27am Nov 28, 2013 7:27am
Keeping eye on this chart.. waiting candle to close above DSP candle.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 109 KB
  • #30
  • Nov 28, 2013 7:32am Nov 28, 2013 7:32am
XAUUSD closed above DSP candle. Good to buy.

lets see.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 105 KB
  • #31
  • Nov 28, 2013 8:01am Nov 28, 2013 8:01am
Quoting password
xauusd closed above dsp candle. Good to buy. Lets see. {image}

the chart you have shown, is that showing 24 hrs worth of bars or less ? Have you checked back on charts upto 24hrs to see if there are any previous dsp bars ?
  • #32
  • Nov 28, 2013 9:58am Nov 28, 2013 9:58am
Quoting whatfx
{quote} the chart you have shown, is that showing 24 hrs worth of bars or less ? Have you checked back on charts upto 24hrs to see if there are any previous dsp bars ?
Off course.. 4 candles/hr x 24 hrs = 96
  • #33
  • Nov 28, 2013 10:06am Nov 28, 2013 10:06am
Thanks for sharing. Will test it tomorrow. Looks simple enough.
Pivot Boss in the making~
  • #34
  • Nov 28, 2013 10:11am Nov 28, 2013 10:11am
Sell on breakout. Simple and easy.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-11-29 at 12.10.58 AM.png Size: 66 KB
Pivot Boss in the making~
  • #35
  • Nov 28, 2013 10:18am Nov 28, 2013 10:18am
Failed Sell Trade
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-11-29 at 12.17.07 AM.png Size: 46 KB
Pivot Boss in the making~
  • #36
  • Nov 28, 2013 10:31am Nov 28, 2013 10:31am
Quoting jurn_e
Failed Sell Trade {image}
Looks as though your trade should have been a buy at the open of the short candle, not a short....seems to work opposite to normal thinking... so you would be pip positive..
  • #37
  • Nov 28, 2013 11:10am Nov 28, 2013 11:10am
Quoting jurn_e
Failed Sell Trade {image}
Always a good idea to look at the higher TF trend to get the direction of the trend, as can be seen in the blow 1H TF chart we are in a very strong uptrend so the only signal I would be looking for on the lower TF's is a buy before I would consider entering.

Where the magenta X and line is, is where your failed traded occured on the 15M TF
Attached Image (click to enlarge)
Click to Enlarge Name: gu1h.png Size: 37 KB
Your Attitude Determines Your Altitude
  • #38
  • Nov 28, 2013 11:46am Nov 28, 2013 11:46am
Quoting moodybot
{quote} Looks as though your trade should have been a buy at the open of the short candle, not a short....seems to work opposite to normal thinking... so you would be pip positive..
I think he went short on the bull candle. The short candle wasn't there yet. One should have opened the short at the close of that bear candle. But when it closed it was the new DSP candle. So the question here is: to trade or not to trade. I say not. What do you think?
  • #39
  • Edited 12:53pm Nov 28, 2013 12:25pm | Edited 12:53pm
Quoting Anusragger
{quote} I think he went short on the bull candle. The short candle wasn't there yet. One should have opened the short at the close of that bear candle. But when it closed it was the new DSP candle. So the question here is: to trade or not to trade. I say not. What do you think?
Yep, agreed.

2 signal candles together, perhaps if closing candle is bigger than the signal candle then no trade, new signal candle in play.

Incidently on my platform the short trade would have been an easy winner, my candle formations are different to Jurn e

Just rechecked, i had set chart to 5 min hence candle difference..
  • #40
  • Nov 28, 2013 11:32pm Nov 28, 2013 11:32pm
Quoting jurn_e
Failed Sell Trade {image}
In this, DSP candle is long bear candle. Hence buy above its opening price. If you had followed this.. it will be a winner buy trade.
0 traders viewing now