GoldenTulip 15m Scalping

Ok, I see. And the small body has to be the lowest low of approx 4-5 candles. So not a fractal per say? Just 2-3 candles with higher lows before and then at least the candle of proof (engulfing?) with a higher low after it? Correct?

Cannot be too serious with my alias otherwise people would take me seriously. And yes, I'm in Brabant.

Good thing the people here do not know what an anusragger is ;-)

In jForex there is a fractal indicator that pretty much shows pinbars. A proper pinbar is an unmistakable top of the mountain or bottom of a valley. Not a pathetic molehill between lots of others.

I would say 4 or more higher lows on the left, preferably each of them high than the one on its right. And then a higher low on the right that must form the Candle of Proof.

This example shows some Low bars with large wicks and also lower that its neighbors that are definitely not proper HiLoPa candles.

The former last candle is a beautiful High HiLopa, with a beautiful Candle of Proof to its right, but it is to close or even in the golden Ema band. So there is not enough bandwidth and you would trade Short against a strong uptrend.

Sorry OP, but...BALLS. Pinbars don't always sit at the top or the bottom.
Fuck man. Really? Just because they can, and yes, sometimes do., doesn't mean they're exclusive. I'm extremely confident in saying they're anywhere there is indecision.

Thanks for the reply Aus.

Pinbar as such can be anywhere, as you say. The pinbars i am referring to are placed in a specific setting. That is why i use the name HiLoPa: a highest high or lowest low price action bar.

I admit it is confusing that i use these words randomly so from now on i will refer to them as hilopa's.

Hi SemperAugust. Thanks for sharing your system. Can you explain how to read the TFV indicator? How do you use the indicator in determining what direction to trade or when to trade? Thank you.

hi , can you show more example picture how you enter the trade ? thanks

Hello Ica and cavanlee92, welcome in this thread and thanks for the reply.

First of all: the TFV indicator. I will make a post and place it here today.

Second: i'll recapture some of the trades, make screen shots and explain. Also this friday.

thank you semperaugust !

One fine and textbook example (removed the lines for a clean view): a super obvious HiLoPa candle with 9 lower highs to the left of it. Already started the way down but sticking up its middle finger to celebrate the ending of a long way up.

Confirmed by the Candle of Proof to its right (the second orange candle).

Conditions (not in this small chart):

1. overal trend (D1) was slightly bullish.
2. Price had made a long and bumpy ride up
3. and did not show any pattern that might point out a longer way up.
4. The HiLoPa and Candle of Proof however did show a fine breakout pattern after a climb up within a clear equidistant channel. (it's not forbidden to use other price action analysis or patterns to confirm or decline a trade).
5. TDI showed a clear overbought situation which was obvious after the last steep climb.
6. Distance to the Kijun Sen was enough.
7. Distance to the Ema9 was not according to the doctrine but that is almost impossible after a longer trend wise movement.

For this trade the break out of the equi channel was way more important than the fact that price had moved into the Ema9 band.

Stepin when Candle of Proof is closed and in the right direction (short in this example).

I closed this one manually after the bump back, as the doji two candles left of the blue one was announcing a questionable price change.

If i had taken this ride with a 12 pip trailing stop, it would have been a profit of 45.8 pip. By closing manually it was 46.4. But the trailing stop would've done its profitable work if price had gone down further.

Why not take another ride back up, going Long? The reversal was not clear according to the doctrine. Too many questionable spikes downwards.

Hello Semper,
Where do you live in the Netherlands? I work in Rotterdam and sometimes on a North Sea rig.
You said: " I always watch two pairs, as i'm satisfied with just a couple of successful trades per day"
I can hardly find 2 or 3 opportunities a week on EURUSD pair...
I mean when there is a 20-25 pips distance between current price and Ema10 as well as Kijun Sen.
Would you mind to post some charts with indicators and name of currency with exact date?
Best regards.

Hi Semper

I've been reading your thread and although it's interesting, I feel you have not explained the system well with clear illustrations explaining the rules and the trade setups. Just from this e.g. you say 20 pip stop well if you had entered after the candle of proof you would have been stopped out. Secondly you can hardly call the reversal a pin bar with such a small wick next your candle of proof has a similar size body, the ema10 was only 10 pips away. What constitutes this a trade from your rules. Lastly I've been going through the charts of GBP/JPY and Eur/Usd I can hardly find 2-3 good setups p. week if that according to your rules. You say up to 200 pips can be a made a day If anyone made that a week that would be an incredible achievement.

I suggest it would be a good idea to show various examples so one can clearly see and get a feel of how you trade this method.

Thanks in advance

Trading is a craft, so is explaining a method.

I do see that i've described the ultimate setup. If band width is smaller, so should the SL and TP be. You might even consider scaling down to the 5m timeframe for smaller bandwidth and still finding a trading moment (although i do not do that). You might also scale up for longer running trades.

The way i trade is by monitoring (by EA) about 9 pairs. I get an alert if a pair shows a possible opportunity. And there are always one or two pairs that ask for more than automated attention. I never place more than two trades (on the max of two pairs that make trading possible) because you have to monitor the trades.

The method as described is based on the perfect setup. Every deviation of the doctrine creates more possibilities for making pips as well as more risks of losing pips. I think every trade shows one or more points where they are not perfectly according to the doctrine. For me it is an obvious assumption that all traders know that things never ever work 100% by the book. That is why trading is a craft and not a monkey's job.

I will trie to describe and show the way i do it next week.

Have a nice weekend.

are you possible to upload your EA??

yaya, would you mind upload the EA at least for the alert for the entry ?

Hi My Friend SemperAugust,

I see you 'use' DC (Donchian Channel) from 'Turtles' as part of your Technical Analysis, Congratulations.. you are on the right track..

Just little suggestion that maybe you can try if you don't know yet..

Use not only one DC, but 2 DC with mid lines, faster and slower, you will easily 'see' the market force and you can stay with the trend longer, and also you can play 'bounce; trade when in choppy market condition, and recognize consolidation period faster. This only my limited knowledge about DC, since i'm 'Turtle' for years.. lol

Happy Week end and best regard.
MTH

Sounds like a very good tip. In fact, my indicator has as well a slow as a fast Donchian embedded. The fast one i do not use at the moment.

I've not looked at the area between the lines like you show us. It's sort of the opposite of the kumo cloud.

Again: very interesting. Thanks Kiads.

With the above tip from Kiads and some experimenting, i had to fine-tune the strategy. But also the criticism of some people here – Light786 and Kore2 – send me back to the drawing table and testing environment.

Were my conditions too strict? Was i the bridge keeper's chef? Or are Light786 and Kore2 just two new bridge keepers? Is my strategy inadequate on too many days and times, or was my description only fit for the perfect storm?

Whatever it is, with a small adjustment on indicators and a different way of working with SL and TP, testing showed a result of 78% wins with SL=TP. That's not really spectacular. Spectacular is that on one pair a trades can be made just about every hour, even after London market hours when normally things are slowing down and bandwidth is tightening.

What has changed? Not the core of the strategy.

1. I switched on the fast Donchian and look at the picture in a different way.
2. I let go of the absolute minimum bandwidth, in that way that available bandwidth can be much tighter than the mentioned 20 pips, but in accordance SL & TP must be altered. So strategy here is the same, but variable. More scalping.
3. If Reversal is not possible according to the doctrine, then soon after that point a possible "harmonic breakout" (i do not know a better word to describe this: it's when waves suddenly change to a different frequency and amplitude) can be at hand. That breakout is now traded as well.

This week i'll test and fine tune things live, end of the week, i hope to share the results (if i have the time this week).

For those who asked for an EA or anything: sorry. I don't provide these. I do not mind sharing thoughts, strategies and results. By the way, it wouldn't be of much use, as i switched from MT4 to jForex for testing and developing.

The indicator on the kind of simple, but get used to it will take time.
Have you tried on a pair - USD / JPY?

Hello SemperAugust,

Are you still using this system? The 15 minute charts are of interest to me and I would like to know if you are still trading this method. If so, how is it going for you?

Hi Mr. CEO. It is fine tuned and way better than before. But with one major change: I use Point & Figure charts now for a much clearer view. The band with is still comparable with 15m as one position generally does not take longer than 5 to 30 minutes and SL and TP are comparable also.

I will elaborate on this in a few days, when my sailing trip is over.