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3 Consecutive High Low Method

Hi Mithras,

Base on your post #15. Are you taking candles 1,2,3 or 2,3,4 or a,b,c?

My understanding of "3 consecutive high/low bars", candles a,b,c should be the setup.

Entry is once the 3rd candle close or high/low of the 3rd candle?
Attached Image
Quoting zhdeef
Hi Mithras I'm interested to see where you're going with this idea. Is this the sort of indi you're after? I modified an old one so I hope it works. {file}
thanks for giving the indi, but I can't open it after i put it to the indicator folder.
Quoting sam2vt
Hi Mithras, Base on your post #15. Are you taking candles 1,2,3 or 2,3,4 or a,b,c? My understanding of "3 consecutive high/low bars", candles a,b,c should be the setup. Entry is once the 3rd candle close or high/low of the 3rd candle? {image}
I took 1,2,3, it surely shows the momentum, Mind the previous bar of "1" ( lets call it 0)!!!! 0,1,2 is insufficient. For a,b,c, it depends on yr risk appetite. I didn't take it as EU has increased too much ( for me ) . Thanks!
Quoting mithras
{quote} I took 1,2,3, it surely shows the momentum, Mind the previous bar of "1" ( lets call it 0)!!!! 0,1,2 is insufficient. For a,b,c, it depends on yr risk appetite. I didn't take it as EU has increased too much ( for me ) . Thanks!
Thanks for the explanation n am clearer now. How about the entry? Entry at candle close or 3rd candle high/low?
Quoting mithras
{quote} If win% is exact 0.6, then yes, but I generally make a slight little bit more than it. 15 pips a week is too horrible......(for me) About the MAXIMUM DRAWDOWN, firstly i didn't make a EA of it nor make a stat of it so sorry I don't know the exact ratio. For MD, I would like to say, it is just a reference for testing a "system"'s performance in a certain period, and it is affected by too many factors, at least you have to know my position sizing of each trade, right? and when things come to probability, even a 90% w% with +ve EV "system"...
Thank you for your info! Wish you a lot of pips per week
Quoting mithras
{quote} thanks for giving the indi, but I can't open it after i put it to the indicator folder.
With the new build of MT4 you no longer put indicators in the indicator folder!
Quoting zhdeef
{quote} With the new build of MT4 you no longer put indicators in the indicator folder!
Nice ! Very Nice ! Thank you zhdeef ! I updated to b600 now its work! I can even control the number and size of the pattern, it's awesome!

And may I ask what is the calculation of pattern size? does it include the high/low of the all 3 bars or only the close of them?
  • Post #28
  • Quote
  • Edited 2:11am Mar 27, 2014 1:45am | Edited 2:11am
Quoting sam2vt
{quote} Thanks for the explanation n am clearer now. How about the entry? Entry at candle close or 3rd candle high/low?

the close of 3rd candle is ok, I trade the close. traders may wait the break of high/low to further "confirm" the signal. I don't believe there are any "confirmation" when one trade. thanks sam2vt.


and, I suffered LOSS yesterday (16:00-16:15 GMT0) , omg, this is a crappy method.......... adding filter? MA? RSI? STOCHASTIC? Snaky lines? I rather choose to accept the loss
Quoting mithras
As I am requesting an indicator for my method,! {image}
Hi looks logical I can get this done for you I use a guy that is very good..please write a complete set of rules for the 3 candles

Ie

do we use the low of the 1st candle to the hi of the 3rd candle ?
What happens if the 1st candle is 22pips does that qaulify or do you need to wait for 2 and 3
What happens if candle 1 is 18pips candle 2 is doji candle 3 is 6 pips ?
What happens if candle 1 is 18pips candle 2 is down candle 0.5pip candle 3 is 6 pips ?

Will post here when done will post any questions programmer needs answering

What do you want to call the ind ?

Cheers P
Quoting Paulus
{quote} Hi looks logical I can get this done for you I use a guy that is very good..please write a complete set of rules for the 3 candles Ie do we use the low of the 1st candle to the hi of the 3rd candle ? What happens if the 1st candle is 22pips does that qaulify or do you need to wait for 2 and 3 What happens if candle 1 is 18pips candle 2 is doji candle 3 is 6 pips ? What happens if candle 1 is 18pips candle 2 is down candle 0.5pip candle 3 is 6 pips ? Will post here when done will post any questions programmer needs answering What do you want...
Hi Paulus, wow, before replying i wanna say I did read almost all your thread in FF when I joined FF, I know you have lots of excellent idea.

You do get the point of this method.

I use open of the 1st , clost of the 3rd.

1. For 1 bar >20 pips case, yes, I will trade but it seems it is not what the topic is talking about, but who care if it can make profit. Last 2 years, I did use candle legth/number/identifier...etc, almost 10 indicators to track/back test/ forward test etc, and luckily it works. and if you check the history, you may find it works many time if we add a healthy stop loss. you may say it is just a following big candle strategy, ya, it is, and i do think adding Daily volatility/ daily true range to determine the parameter will give me a far better result. we may further discuss it!

2. I don't trade doji. It is not a valid candle for me, but we may test it cause 5M has lots of noise

3. Any down bar in " 3 up bar pattern" will not be considered ( for me )


I will try to write a complete set of rules after 15:00 GMT , please wait

Post here will be the best as we can share to the FF members ! any name related to this method is ok
Quoting mithras
{quote} Nice ! Very Nice ! Thank you zhdeef ! I updated to b600 now its work! I can even control the number and size of the pattern, it's awesome! And may I ask what is the calculation of pattern size? does it include the high/low of the all 3 bars or only the close of them?
The pattern is triggered by BarsInPattern successive bars making HHs & HLs or LLs & LHs, where the distance between the high & low of the sequence >= MinPatternSize pips.
Does this strategy works in London open also or only in NY open....
Hi Mithras

how them rules coming along

P
Quoting zhdeef
{quote} The pattern is triggered by BarsInPattern successive bars making HHs & HLs or LLs & LHs, where the distance between the high & low of the sequence >= MinPatternSize pips.
Thanks zhdeef!

Quoting chanx
Does this strategy works in London open also or only in NY open....
It works in market with high participation. So London session should be ok, yet I don't do any test on London session

I only trade in NY
Quoting Paulus
Hi Mithras how them rules coming along P

Hi Paulus, I have added. Sorry for the late reply cause of my heavy workload.
Continue to post the chart

27/3/2014, 3 " bear" bars appears. I know some may ask why don't trade 3 green bars after 13:00 GMT. And you may see it doesn't fit our requirement : 20pips and have a doji in the pattern.

31/3/2014, yesterday, 3 up bars appears. It is not a "perfect" pattern, yet I still trade it. Got a BE finally.
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Quoting mithras
{quote} I took 1,2,3, it surely shows the momentum, Mind the previous bar of "1" ( lets call it 0)!!!! 0,1,2 is insufficient. For a,b,c, it depends on yr risk appetite. I didn't take it as EU has increased too much ( for me ) . Thanks!

why would you take trade 1,2,3, ? according to your rules, the wick of the candle must be less than 20% of the body of the candle . in candle 1 and candle 3 , they both have wicks greater than 20% of thier bodies. so this trade will be invalid.

similarly in the 2nd chart shown in post 36 above, the buy trade will be invalid due to the wicks. so why did you take that buy trade ? can you explain ?

also, what are your rules exactly.
Quote
{quote} 3 Consecutive High Low Method
Means that you have found a trend and can sell/buy pops.
Quoting zhdeef
Hi Mithras I'm interested to see where you're going with this idea. Is this the sort of indi you're after? I modified an old one so I hope it works. {file}
Hello Zhdeef, thank you for making this indicator available. I am thinking of using it but I would like to clarify some doubts with you, please.
(BarsInPattern = 3; MinPatternSize = 10)
1. In this example below, enter the opening price of the 2nd candle for the lowest price reached by the 4th candle and we have 10 pips. And these 3 candles were not signaled by the indicator. Why not?
2. The same occurred between the 3rd and 5th candles (12 pips). Why haven't they been flagged?
3. Between the 4th and 6th candles (13 pips), the indicator signals correctly.
I thank you in advance for your work.

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  • Post #40
  • Quote
  • Last Post: Jan 21, 2020 3:06pm Jan 21, 2020 3:06pm
Quoting zhdeef
Hi Mithras I'm interested to see where you're going with this idea. Is this the sort of indi you're after? I modified an old one so I hope it works. {file}
Hello Zhdeef, this is your fantastic indicator.
I need that when the ALERT happens, it be sent to my Metatrader 4 app on my phone. I configured everything on the computer's MT4 through the Tools / Options / Notifications menu, but nothing happened. So, I suppose your indicator is not programmed for this.
Therefore, it would be possible for you to make MQL4 SOURCE FILE available from this indicator so that I can try to implement this.
Or if you prefer, you can implement it yourself and just send the .ex4
I would be very grateful if you could help me.
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