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123PatternsV6 revisited

  • #1,161
  • Mar 14, 2014 11:18am Mar 14, 2014 11:18am
Quoting dee50
{quote} Can anyone help this young man. I have not upgraded to v600 so I do not have any INDIs that have been converted. Could some kind soul post a version of 123patternsv6 that works with the new version of MT4. Unfortunately as I am not the thread originator I can not edit the first page to include any modifications to the indicator or method. Perhaps we should start a new thread, that way we could put every thing on the first page where it can easily be found by any new Trading Nomads. What would would we call the new thread? My trading style...
I found the show123 indi in one of your posts, while browsing through the thread, spending TWO whole days going
through posts and attachments.
here it is , it works fine, everything works fine for me on the new build 600.
from your MT4 platform open FILE- OPEN DATA FOLDER-MQL4-INDICATORS. that's where you need to put indis.
I put it on my chart just to see how it shows 123 formation, but it's better to train your eyes to spot them on your own rather then rely on indi signals.
Attached File(s)
File Type: ex4 show123v2.ex4   57 KB | 1,984 downloads
If you're going through hell, keep going. Winston Churchill
  • #1,162
  • Mar 15, 2014 12:42pm Mar 15, 2014 12:42pm
iam a big big fan of 123patterns v6 with alarm indicator after the update to mt4 v600 version this indicator isnt working properly , i request you to plz kindly update the indicator by any means and post it here , using old indicator on chart is making my system to stop working and whole screen is turning blank (white colour ) and i even cant see the indicator , please help me , and thank you for ur support guys , for spending your valuable time for me .. thank you
  • #1,163
  • Mar 17, 2014 11:47am Mar 17, 2014 11:47am
EU +45 123 Entry. 15m & 1hr. A 123 formed on the EJ but price had already travelled 70 pips and the TDI and Stochs did not look convincing. As it happens, a TTE entry would have yielded 40 ish pips. surprise surprise.

I have put the "show123v2" indi back on my charts just so that the Trading Nomads can see the setups more easily.

syedwajid. Try the "show123v2" instead of the "123patternsv6"
Attached Image (click to enlarge)
Click to Enlarge Name: eu +45.png Size: 61 KB
Cut your Losers short and let your Winners run.
  • #1,164
  • Mar 17, 2014 12:15pm Mar 17, 2014 12:15pm
Quoting dee50
EU +45 123 Entry. 15m & 1hr. A 123 formed on the EJ but price had already travelled 70 pips and the TDI and Stochs did not look convincing. As it happens, a TTE entry would have yielded 40 ish pips. surprise surprise. I have put the "show123v2" indi back on my charts just so that the Trading Nomads can see the setups more easily. syedwajid. Try the "show123v2" instead of the "123patternsv6" {image}
Right to the Pip Dee...
  • #1,165
  • Mar 17, 2014 12:20pm Mar 17, 2014 12:20pm
Quoting syedwajid
iam a big big fan of 123patterns v6 with alarm indicator after the update to mt4 v600 version this indicator isnt working properly , i request you to plz kindly update the indicator by any means and post it here , using old indicator on chart is making my system to stop working and whole screen is turning blank (white colour ) and i even cant see the indicator , please help me , and thank you for ur support guys , for spending your valuable time for me .. thank you
Sayed,

We are all the same here , we are not the owner of this thread nor the indicator itself, all what I could find is that after attaching the indicator I changed the value for ZigZag to 5 and it worked fine with 600 Built, however I advice you try to locate the 123 pattern by yourself , it's not that hard to find.
Good Luck
  • #1,166
  • Mar 18, 2014 7:50am Mar 18, 2014 7:50am
EJ +50. 123 Entry. Not the ideal 123, the 2-3 leg pulled back much deeper than I ordinarily prefer, but the double bounce off the bottom trend line of the 4 Hr Channel justified the risk, also the entry candle engulfed the previous 3 candles. TP had to be in the area of the descending Trend Line and the 200% Fib exp.
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #1,167
  • Mar 18, 2014 2:28pm Mar 18, 2014 2:28pm
Quoting dee50
EJ +50. 123 Entry. Not the ideal 123, the 2-3 leg pulled back much deeper than I ordinarily prefer, but the double bounce off the bottom trend line of the 4 Hr Channel justified the risk, also the entry candle engulfed the previous 3 candles. TP had to be in the area of the descending Trend Line and the 200% Fib exp. {image}
EU +20 Pip, I saw your trade and it inspired me , I took it form the same reasons that you did and almost wanted to close the trade at loss, then things started to change and I was more than happy with 20 Pips !
Attached Image (click to enlarge)
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  • #1,168
  • Mar 19, 2014 7:19am Mar 19, 2014 7:19am
One of the Masters of Price Action Trading. Al Brooks. Not a natural teacher, but then how many of us are? As the market is quiet check out this video on Trading Channels & Price Action Trading, in the first part he deals with Channels how to draw them, how to trade them etc, second part he shows you how he does a Bar By Bar analysis on a 5 min chart, fascinating and extremely relevant in any time frame. The video is 2.13 hrs long but it is only the first 1.5 hrs that matter.

This is the link to the youtube page. http://www.youtube.com/results?searc...0channels&sm=1

I actually download the videos so that I can watch them on my TV, multiple times, without using up all the bandwidth.

This is the video on Trading Channels. Enjoy

Inserted Video
Cut your Losers short and let your Winners run.
  • #1,169
  • Mar 19, 2014 11:06am Mar 19, 2014 11:06am
GU +48. 123 Entry. The only pair with news during my trading time. 123 on 15m. 1hr channel is virtually flat, 4 hr channel is really wide at 480 pips, indicating that lower time frames dictate trend at the moment. The wider the channel, the less directional momentum.
Attached Image (click to enlarge)
Click to Enlarge Name: gu +48.png Size: 68 KB
Cut your Losers short and let your Winners run.
  • #1,170
  • Mar 20, 2014 5:16am Mar 20, 2014 5:16am
FOMC EU +80. UJ +80. Today EU +30. Bear Flag continuation of last nights FOMC with 123 on 5m and 123 confirmation 10 mins later on 15m. Last night's FOMC was a no brainer. They were hardly going to announce no more tapering so Dollar positive it was. I closed manually on the FOMC, I had expected more of a move, but I suppose that the continuation of tapering was not really news and was already priced in by many.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu +80 +30.png Size: 63 KB
Click to Enlarge Name: uj +80.png Size: 56 KB
Cut your Losers short and let your Winners run.
  • #1,171
  • Mar 20, 2014 5:39am Mar 20, 2014 5:39am
Quoting dee50
FOMC EU +80. UJ +80. Today EU +30. Bear Flag continuation of last nights FOMC with 123 on 5m and 123 confirmation 10 mins later on 15m. Last night's FOMC was a no brainer. They were hardly going to announce no more tapering so Dollar positive it was. I closed manually on the FOMC, I had expected more of a move, but I suppose that the continuation of tapering was not really news and was already priced in by many. {image} {image}
nice trade Dee, don't you think that trading the FOMC is a little bit risky ? I mean I saw many cases for FOMC that the price would just wobble up and down hitting buyers and sellers at the same time , do you trade little amount at that time or it's pure news trading ?
  • #1,172
  • Mar 20, 2014 6:13am Mar 20, 2014 6:13am
Quoting geomoon
{quote} nice trade Dee, don't you think that trading the FOMC is a little bit risky ? I mean I saw many cases for FOMC that the price would just wobble up and down hitting buyers and sellers at the same time , do you trade little amount at that time or it's pure news trading ?
You have to judge sentiment and how the market has been prior to the announcement, in this instance the market had been in consolidation with little or no direction, sentiment was that tapering would continue, foregone conclusion really, so even just confirmation of this was likely to move the market in favour of the Dollar add to this the projected rate announcement and the direction was guaranteed, all that was left was to work out by how much.
I can not understand why so many experienced traders advise not trading the news, probably because they have not learnt "how" to trade the news, in reality it is no different than ordinary trading it requires exactly the same skill set and preparation, I actually find it much easier to do. For some years I traded nothing but the news, it was great, get up late have a leisurely breakfast do a few odd jobs go to the bar have a Cafe Americano and a Bocadillo con Pechuga de Pollo discuss the weather with some of the old fellas, return to my office at 14.15pm ready for the announcement at 14.30pm, by 15.30 I was done with 50 - 100 pips in the bank. When the bar installed WIFI I would take my laptop there and trade from the bar, the view over the valley is much nicer from there.
Cut your Losers short and let your Winners run.
  • #1,173
  • Mar 20, 2014 7:50am Mar 20, 2014 7:50am
Quoting dee50
{quote} You have to judge sentiment and how the market has been prior to the announcement, in this instance the market had been in consolidation with little or no direction, sentiment was that tapering would continue, foregone conclusion really, so even just confirmation of this was likely to move the market in favour of the Dollar add to this the projected rate announcement and the direction was guaranteed, all that was left was to work out by how much. I can not understand why so many experienced traders advise not trading the news, probably because...
Good to know that you are trading the news while relaxed, I bet that this didn't came by chance, I know people got a stroke or even got part of their stomach removed before they decided to quit trading the news.
I see the problem with how each trader could interpretate the news or decide the sentiment , each trader has his own understanding and tools , with the fact that in many cases the market would react exactly the opposite direction to what the news really came out, add to this the herds reaction when someone falls you start to see the whole domino follow that fall.
someday I will be trading off the beach relaxing like you do and hopefully we can have a drink together.
Cheers
  • #1,174
  • Mar 24, 2014 6:31am Mar 24, 2014 6:31am
EJ +22 +72. Good start to the week. This unfolded nicely. see how it started with a 123, off HTF trend line and HTF divergence, on a 5m chart with an exhaustion spike on the TDI, then became a 123 on the 5 & 15m charts then became a Pin bar on the 1hr and then the 4hr chart, all confirming that this CT trade was a runner. Of course at the start you can not know so a tight stop and an early TP at the first BRN, then move stop down to the second 123 locking in 20 pips and letting it run down to the next BRN, trailing sl on the 5m chart just waiting for that turn around back into trend. now I can shut down and enjoy the rest of the day.
Attached Image (click to enlarge)
Click to Enlarge Name: ej +22 +72.png Size: 63 KB
Cut your Losers short and let your Winners run.
  • #1,175
  • Mar 24, 2014 12:43pm Mar 24, 2014 12:43pm
Nice trades Dee, thank you for sharing them.
I haven't been around much lately, simple because trading is hard to do from my timezone
living at EST. Trying to get on a trade in asia session early, then find it at BE coz I can't monitor it, or catching
the endtail of the market in US session just depresses me. Trying to find solution is not easy ...

anyway I am sharing my lucky trade from last night's asia session eu/aud H1 bounce off previous week low for third time , with tdi
crossing above mbl + 123, and H4 pin pullback. China news moved price to my set +50 pips target to the pip.
second trade is in today's NY session, gj H1 123 hanging on 200ema and previous day high, entry on M15 H@S trendline break. slow volume,closed for +30
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Greenshot_2014-03-24_13-14-07eaudh1.png Size: 46 KB
Click to Enlarge Name: Greenshot_2014-03-24_11-55-35gjh1.png Size: 40 KB
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If you're going through hell, keep going. Winston Churchill
  • #1,176
  • Mar 24, 2014 1:05pm Mar 24, 2014 1:05pm
EU +55. Easy 123 Entry, no brainer Dbl Bounce of Btm of 4hr Channel into 123 on 1hr and 15m. TP obvious.
Never be dismayed if you do not get all of a move, be happy that it reached "your" TP, eventually with more experience you will find you are able to identify the target zones much more accurately, Trading is not an exact science, actually it is less exact than "Pin the tail on the donkey"
Attached Image (click to enlarge)
Click to Enlarge Name: eu +55.png Size: 61 KB
Cut your Losers short and let your Winners run.
  • #1,177
  • Mar 24, 2014 1:17pm Mar 24, 2014 1:17pm
Quoting Imi
Nice trades Dee, thank you for sharing them. I haven't been around much lately, simple because trading is hard to do from my timezone living at EST. Trying to get on a trade in asia session early, then find it at BE coz I can't monitor it, or catching the endtail of the market in US session just depresses me. Trying to find solution is not easy ... anyway I am sharing my lucky trade from last night's asia session eu/aud H1 bounce off previous week low for third time , with tdi crossing above mbl + 123, and H4 pin pullback. China news moved price...
Nice trades. 80 pips is not a bad living. I like your charts but only to look at, if my charts were that naked my sex life would really suffer i would end up having to take Viagra as well as the prozac. The extra lines and squiggles on my charts are like a comfort blanket to me.

can not really help you with your time zone problem, has any one suggested trading the Daily TF?
Cut your Losers short and let your Winners run.
  • #1,178
  • Mar 24, 2014 2:18pm Mar 24, 2014 2:18pm
Quoting dee50
EU +55. Easy 123 Entry, no brainer Dbl Bounce of Btm of 4hr Channel into 123 on 1hr and 15m. TP obvious. Never be dismayed if you do not get all of a move, be happy that it reached "your" TP, eventually with more experience you will find you are able to identify the target zones much more accurately, Trading is not an exact science, actually it is less exact than "Pin the tail on the donkey" {image}
nice, again...
I like when 123s happen in just a few candles , that show momentum.
strange time for the eu to move 70 pips.
I guess my tp wasn't obvious, lol, quickly came back to BE. gu h1 daily trendline bounce, and previous week low
Attached Image (click to enlarge)
Click to Enlarge Name: Greenshot_2014-03-24_15-09-02guH1.png Size: 58 KB
If you're going through hell, keep going. Winston Churchill
  • #1,179
  • Mar 25, 2014 6:33am Mar 25, 2014 6:33am
EA +38 Pip , 123 out of short term resistance and last week low , TDI was down all the way from H4,H1,15
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  • #1,180
  • Mar 25, 2014 10:34am Mar 25, 2014 10:34am
EU +35. EJ +13. Couple of really crappy trades today. 123 on eu to start and then just died moved my tp up to collect 35pips, I was dubious because the 1 - 2 leg was quite long and the daily range was 60 - 70 pips. EJ was a complete waste of time. Started with a nice pin bar but then went nowhere, I closed it for 13 pips, I was not prepared to nursemaid these trades, life is too short, and the sun is shining.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu +35.png Size: 57 KB
Click to Enlarge Name: ej +13.png Size: 62 KB
Cut your Losers short and let your Winners run.
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