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The DIBS Method... No Free Lunch continues

  • #10,461
  • Jul 5, 2014 4:51pm Jul 5, 2014 4:51pm
Quoting charlivia
Hi maybe this indicator could help in trading IBs, it has helped me a lot. {image}
Cool, thanks. Maybe you'll like this...

I tweaked Inside Bar Historic (mod) so that it no longer draws vertically angled lines. There's always at least one unplotted bar between the horizontal breakout lines. As a result, immediately adjacent line sets will lag by one bar. The index buffers remain intact for use with iCustom.

Compiled in Build 509, so ex4 is attached for any daring 600+ users.

Attached Image (click to enlarge)
Click to Enlarge Name: audcadmh1.png Size: 19 KB
Attached File(s)
File Type: mq4 Inside Bar Historic mod.mq4   5 KB | 1,409 downloads
File Type: ex4 Inside Bar Historic mod.ex4   5 KB | 1,081 downloads
An ounce of profitable logic is worth a pound of efficient code.
  • #10,462
  • Jul 5, 2014 5:34pm Jul 5, 2014 5:34pm
Rjo,

I have put your mod of insidebar indicator on to my MT4 build 646...

It doesn't work exactly good .... :s
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 34 KB
  • #10,463
  • Jul 6, 2014 8:14am Jul 6, 2014 8:14am
That's actually the one bar lag that I mentioned earlier. Notice how your circled set is immediately preceded by an adjacent set? There's no way to extend the index buffer over without the angled line reappearing. The original Inside Bar Historic indicator never lags, but it sometimes has angled lines between the sets--which I find to be a big distraction. Just Search FF if you want that one.

There are some object (non-index buffer) based IB indicators out there, where each set is drawn independently of the others... although for Build 646, I'm not sure.
An ounce of profitable logic is worth a pound of efficient code.
  • #10,464
  • Sep 15, 2014 6:29am Sep 15, 2014 6:29am
Hello all.

There is something I would be very grateful for if somebody would be so kind to clarify for me please. Yes, I have read all PC's posts, the whole of the original NFLbatFCycd thread, and currently on page 100 of this thread. However, so far I am very sure about this, so my question - Is it within the DIBS method to take a breakup/breakdown of an IB formed before the 06.00GMT bar, but with the breakup/breakdown bar formed after 06.00GMT? Let me explain below.
A new day starts at 00.00GMT, say the 03.00GMT bar is an IB, the open price of the 06.00GMT bar is above yesterday's close -so an up day. All subsequent bars after the 06.00 GMT bar are not IBs. Then the 10.00 GMT bar breaks up above the 03.00GMT IB high, will this qualify as a DIB setup to go long? Many thanks.
  • #10,465
  • Sep 15, 2014 7:33am Sep 15, 2014 7:33am
My understanding is No, that would not be a valid IB.
It is very common for IB's to form betweek 00:00 and 06:00 GMT

Quoting danjuma
Hello all. There is something I would be very grateful for if somebody would be so kind to clarify for me please. Yes, I have read all PC's posts, the whole of the original NFLbatFCycd thread, and currently on page 100 of this thread. However, so far I am very sure about this, so my question - Is it within the DIBS method to take a breakup/breakdown of an IB formed before the 06.00GMT bar, but with the breakup/breakdown bar formed after 06.00GMT? Let me explain below. A new day starts at 00.00GMT, say the 03.00GMT bar is an IB, the open price of...
  • #10,466
  • Sep 15, 2014 8:05am Sep 15, 2014 8:05am
Quoting elitejets
My understanding is No, that would not be a valid IB. It is very common for IB's to form betweek 00:00 and 06:00 GMT {quote}
Thanks for the reply elitejets. However, in the early pages of this thread (like I already mentioned, I have read only as far as 100 pages, so may be this is something that changed later on in the thread), it would appear Jarroo (and I believe a few others) was taking IBs formed before 06.00 GMT into consideration. If I remember correctly, someone even mentioned somewhere that PC also does this.
  • #10,467
  • Sep 16, 2014 11:50pm Sep 16, 2014 11:50pm
Quoting danjuma
{quote} Thanks for the reply elitejets. However, in the early pages of this thread (like I already mentioned, I have read only as far as 100 pages, so may be this is something that changed later on in the thread), it would appear Jarroo (and I believe a few others) was taking IBs formed before 06.00 GMT into consideration. If I remember correctly, someone even mentioned somewhere that PC also does this.
The short answer from recollection is no and to further on this I believe PC and others said that the best IB breaks are those that happen immediately or soon after. The reason for the IB prior to this time is not so much indecision but more low volatility which needs to be taken into account.

That been said you should do your own research and trial it to come up with your own consensus. PC stated that he could pick out the IB's that were more than likely going to be successful before pulling the trigger. I too this day do not know whether that was on account of the ability to read the daily direction, news outcomes, PA preceding and indicators, all I know is that for IB's to work long term you must be able to sit on your hands and let winners run, something that has been difficult over the past 12-18 months depending on your entry time frame and definition of long term winners.

RT
  • #10,468
  • Sep 17, 2014 2:57am Sep 17, 2014 2:57am
Quoting Razor_trader
{quote} The short answer from recollection is no and to further on this I believe PC and others said that the best IB breaks are those that happen immediately or soon after. The reason for the IB prior to this time is not so much indecision but more low volatility which needs to be taken into account. That been said you should do your own research and trial it to come up with your own consensus. PC stated that he could pick out the IB's that were more than likely going to be successful before pulling the trigger. I too this day do not know whether...
Thanks for your response RT, much appreciated. Your statetment "The reason for the IB prior to this time is not so much indecision but more low volatility which needs to be taken into account" makes sense. So not sure why Jarroo and some others seem to be taking IBs formed before the 06.00 GMT into consideration (at least from what I can see in the earlier posts on this thread. Anybody else got any more thoughts on this or experience to share? Many thanks
  • #10,469
  • Sep 17, 2014 6:56am Sep 17, 2014 6:56am
Quoting danjuma
{quote} Thanks for your response RT, much appreciated. Your statetment "The reason for the IB prior to this time is not so much indecision but more low volatility which needs to be taken into account" makes sense. So not sure why Jarroo and some others seem to be taking IBs formed before the 06.00 GMT into consideration (at least from what I can see in the earlier posts on this thread. Anybody else got any more thoughts on this or experience to share? Many thanks
You are not going to get a much better answer than Razor trader's above. All I have to add is that the 0600 GMT is not written in stone. Often I will start trading at 0800 GMT and notice that most of the moves have been made in the Asian session. Then, often, it is time for me to down tools and do something else. This is for Eur/Usd or Usd/Chf, of course. Different pairs have volatility at different trading hours. Aud and Cad for example.

By far the most important thing RT said to you was this: " do your own research and trial it " Good luck.
Gone to a better place
  • #10,470
  • Sep 17, 2014 11:39am Sep 17, 2014 11:39am
Quoting smikester
{quote} You are not going to get a much better answer than Razor trader's above. All I have to add is that the 0600 GMT is not written in stone. Often I will start trading at 0800 GMT and notice that most of the moves have been made in the Asian session. Then, often, it is time for me to down tools and do something else. This is for Eur/Usd or Usd/Chf, of course. Different pairs have volatility at different trading hours. Aud and Cad for example. By far the most important thing RT said to you was this: " do your own research and trial it " Good...
Many thanks for your reply. The statement " do your own research and trial it " does not really apply here. What I am seeking is clarification and complete understanding of PC's DIBS, a method PC has already researched, trialled and traded profitably for years! So why do I need further research! I am not planning on changing the method, but to trade it as it is meant to by PC. Unfortunately, there are some aspects of the method as presented by PC that are not very clear to me, and the man himself is not able to be reached, hence reason I am asking those who understand the method fully and have been using it succesfully to assist. There is no harm in sharing experiences and knowledge. In fact there is a saying "the more you give, the more you receive". I am sure, the kind genuine people on forums who have not hesistated to share their knowledge etc with their fellow human beings have been blessed one way or the other as a result. If eveybody had adopted the attitude " do your own research and trial it ", we all would never have benefited from such great knowledge gained from people like PC, pipEasy, TRT, J16, mbqb11 and other great unselfish contributors on this forum. Stay blessed.
  • #10,471
  • Sep 17, 2014 3:46pm Sep 17, 2014 3:46pm
Quoting danjuma
{quote} Many thanks for your reply. The statement " do your own research and trial it " does not really apply here. What I am seeking is clarification and complete understanding of PC's DIBS, a method PC has already researched, trialled and traded profitably for years! So why do I need further research! I am not planning on changing the method, but to trade it as it is meant to by PC. Unfortunately, there are some aspects of the method as presented by PC that are not very clear to me, and the man himself is not able to be reached, hence reason I...
"the more you give, the more you receive"

I don't like your implication that I am not sharing. I don't use PC's method but I can assure you I have a greater understanding of it than you do. What PC did not share was the exact nature of a "hot hand" or his "edge" - both trading skills which take study to hone. Also, I guess he would not trade into major confluences. How much time would you like me to spend explaining this?

Your enquiry shows a failure to comprehend the basic premise of the method and so, rather than sit here for hours explaining it to you, I am asking you politely to study why some inside bars make a profit and why some don't. When you come back with an answer, it is likely going to be different from mine and dare I say it, might be better. When it comes to actually making a profit from these good entries, and knowing that your edge is going to give you something like, say 60% expectancy, might help you through those times when you have 6 or 7 losers in a row. If I tell you one of my methods and the market changes character (and I'll give you credit for knowing how possible that is) and then you have 6 or 7 losers in a row, you'll just say I'm an idiot. If you're lucky, and my method give you a winning run like I am currently enjoying, you'll call me a god. But I am holding longs from 101 and .8900. If I had shared these entries with you, I bet you would have closed them for a 100 pips unless I were there to hold your hand.

Now do some study for yourself and find out which are the best bars and why... If you still don't get it, come back, let me know what you have done. Maybe then I can point you in the right direction. I'll give you a clue. I am holding longs from 101 and .8929

That's all the time I have for you. I'm a bit annoyed. Check out the charts I have posted over the last 7+ years. Maybe you will find out why I was given a funded account by a software house to trial their trading software, and also given a funded account by a broker so they could say I trade with them. And I don't need blessing any more than you need luck.

Tough love. Work hard. Get lucky. (There'll be a big hole in that window in a minute laddie and you'll have gone through it... {My French teacher})
Gone to a better place
  • #10,472
  • Sep 17, 2014 4:28pm Sep 17, 2014 4:28pm
For what it's worth, my opinion is that whilst the ID methos is almost 100% objective, the crucial part of it (filter for which ones to take) being the "hot hand" is very subjective. Theye are many ways to define a hot hand. I find one of the most effective definitions is a move into "fresh air" with no overlapping bars. People have voted with their wallets, there is a pause (IB) then ignore the break out in reverse of that move, only go with the continuation. Works for me!
  • #10,473
  • Sep 17, 2014 4:49pm Sep 17, 2014 4:49pm
Quoting smikester
{quote} "the more you give, the more you receive" I don't like your implication that I am not sharing. I don't use PC's method but I can assure you I have a greater understanding of it than you do. What PC did not share was the exact nature of a "hot hand" or his "edge" - both trading skills which take study to hone. Also, I guess he would not trade into major confluences. How much time would you like me to spend explaining this? Your enquiry shows a failure to comprehend the basic premise of the method and so, rather than sit here for hours explaining...

Hello smikester. Thanks for all the advice. Okay, will try and go figure it out myself. Stay blessed.
  • #10,474
  • Sep 20, 2014 3:16am Sep 20, 2014 3:16am
Quoting Zen_Leow
I initially coded this EA to only work in 1hr charts but when I mod it to allow trading on any timeframe, I forgot to change the part where it finds the Open price of the day. it was still using Time[i] and Open[i] when it should really use iTime and iOpen. I've made the rectification in the attachment. regards, Zen p.s., I've deleted the previous post to prevent confusion. here's the description again. http://www.forexfactory.com/showpost...postcount=3943 {file} {file}
Hello. Anybody has a DIBs EA that works? The one attached here by Zen-Leow would appear not be working anymore, at least with the latest MT4 versions. It generates the following errors when compiled:

'DIBS_EA_ver6_2.mq4' DIBS_EA_ver6_2.mq4 1 1
'stdlib.mqh' stdlib.mqh 1 1
'stderror.mqh' stderror.mqh 1 1
'input' - unexpected token DIBS_EA_ver6_2.mq4 395 28
variable 'PriceToOpen' not used DIBS_EA_ver6_2.mq4 693 17
'input' - unexpected token DIBS_EA_ver6_2.mq4 402 25
')' - unexpected token DIBS_EA_ver6_2.mq4 402 30
'int' - syntax error DIBS_EA_ver6_2.mq4 402 25
declaration of 'Slippage' hides global declaration at line 27 DIBS_EA_ver6_2.mq4 407 76
not all control paths return a value DIBS_EA_ver6_2.mq4 476 1
declaration of 'ParachuteStopPips' hides global declaration at line 54 DIBS_EA_ver6_2.mq4 542 8
return value of 'OrderModify' should be checked DIBS_EA_ver6_2.mq4 560 25
return value of 'OrderModify' should be checked DIBS_EA_ver6_2.mq4 570 28
return value of 'OrderModify' should be checked DIBS_EA_ver6_2.mq4 582 28
return value of 'OrderModify' should be checked DIBS_EA_ver6_2.mq4 594 28
return value of 'OrderModify' should be checked DIBS_EA_ver6_2.mq4 606 28
return value of 'OrderModify' should be checked DIBS_EA_ver6_2.mq4 620 25
return value of 'OrderModify' should be checked DIBS_EA_ver6_2.mq4 630 28
return value of 'OrderModify' should be checked DIBS_EA_ver6_2.mq4 642 28
return value of 'OrderModify' should be checked DIBS_EA_ver6_2.mq4 654 28
return value of 'OrderModify' should be checked DIBS_EA_ver6_2.mq4 666 28



Many thanks
  • #10,475
  • Edited 4:38am Sep 20, 2014 4:10am | Edited 4:38am
Quoting danjuma
{quote} Hello. Anybody has a DIBs EA that works? The one attached here by Zen-Leow would appear not be working anymore, at least with the latest MT4 versions. It generates the following errors when compiled: 'DIBS_EA_ver6_2.mq4' DIBS_EA_ver6_2.mq4 1 1 'stdlib.mqh' stdlib.mqh 1 1 'stderror.mqh' stderror.mqh 1 1 'input' - unexpected token DIBS_EA_ver6_2.mq4 395 28 variable 'PriceToOpen' not used DIBS_EA_ver6_2.mq4 693 17 'input' - unexpected token DIBS_EA_ver6_2.mq4 402 25 ')' - unexpected token DIBS_EA_ver6_2.mq4 402 30 'int' - syntax error DIBS_EA_ver6_2.mq4...
The last few lines are just warnings, not errors. And the errors are not so hard to fix - if you see at the end of the line there are numbers - for example 395 28 that means the error is on line 395, column 28. You can spot it and with a bit of reading it's really easy to fix. You should try it - take it as a 'training' so next time you see errors you can try and fix them. If you go to the mql5.com and find articles about mql4 (if you lack any kind of programming skills) you can find very interesting stuff there. mql4 is really close to 'C' programming language in syntax and most of the expert advisors are very narrow and based on simple calculations.

EDIT: I found DIBS_EA_ver7.mq4 in the topic - took me about 1 minute. In fact, I fixed the code within seconds. If you even make an effort to have a look at the code, the errors are in a function which writes a LOG FILE. Who needs a log file for such an EA . Anyway, removed the function - from the beginning to the last } of it (when you mark it, the editor automatically shows you where the last } is), found the other places where 'LogFile' was written and deleted the whole line. Simple as that!

EDIT 2: Actually, it's not worth it. The strategy is a bummer without filters - for example MA, or bollingers, or experience. I was expecting something like that to happen, but anyway, here's the fixed code
Attached File(s)
File Type: mq4 DIBS_EA_ver7.mq4   27 KB | 1,155 downloads


EDIT 3: If you look closely, you can see that most of the 'inside bars' are actually small range period instead of a reversal or continuation signal. Most of them have extremely low volume which makes me think that they are caused by traders who are expecting big news event. And as we all know - most of the news cause whipsaw movements which covers both sides of the inside bar so that means you get your SL hit twice in less than one hour. With all due respect to Peter Crowns and his followers, I highly doubt that the inside bar strategy was used in this 'naked' way, without filtering, on the trading floor, on H1 charts. The inside bars, engulfing bars and every other pattern that you can recall can be found in free online courses like BabyPips long before this topic ever existed here in the forum. Think about that for a second.
  • #10,476
  • Sep 20, 2014 7:54am Sep 20, 2014 7:54am
Quoting ksofty
{quote} The last few lines are just warnings, not errors. And the errors are not so hard to fix - if you see at the end of the line there are numbers - for example 395 28 that means the error is on line 395, column 28. You can spot it and with a bit of reading it's really easy to fix. You should try it - take it as a 'training' so next time you see errors you can try and fix them. If you go to the mql5.com and find articles about mql4 (if you lack any kind of programming skills) you can find very interesting stuff there. mql4 is really close to...
Hello ksofty. Many thanks for your response and fix. I am most grateful. Yes, I did see the version 7, but that had warnings/errors as well when compiled, and did not seem to work. Also you are right, the errors might be easy to fix, but alas, I haven't got much knowledge of MT4 programming, bar putting indi's/EA's?Scripts in the appropriate folders, opening the editor and compiling. Thanks anyway for being so kind and fixing the code. I wish you good healh and peace.
  • #10,477
  • Sep 20, 2014 8:47am Sep 20, 2014 8:47am
Quoting danjuma
{quote} Hello ksofty. Many thanks for your response and fix. I am most grateful. Yes, I did see the version 7, but that had warnings/errors as well when compiled, and did not seem to work. Also you are right, the errors might be easy to fix, but alas, I haven't got much knowledge of MT4 programming, bar putting indi's/EA's?Scripts in the appropriate folders, opening the editor and compiling. Thanks anyway for being so kind and fixing the code. I wish you good healh and peace.
Nobody's born with programming knowledge. Sometimes you have to use some spare time so in the future you won't 'crash' into such tiny obstacles.
  • #10,478
  • Sep 25, 2014 10:12am Sep 25, 2014 10:12am
It's been a while since I've posted, but... I've been checking the four big majors (EUR/USD, Cable, $/Y and $/CHF consistently and I've come up with a handful of textbook IBs on the charts that signal respectable price increases on a consistent basis. Perhaps on my day off tomorrow I'll be able to post them with notes (I just have to get them scanned).

The biggest one came right after that HUGE opening gap on Cable on the Monday of the Scottish poll saying 51% of the Scots wanted out. There was a huge gap downward, and as we all know, gaps need to be filled. Start checking the hourly chart on Monday, Sept. 8th and look for an IB that fits PCrowns' requirements. I found one on finviz.com, and that software no doubt doesn't let you go back as far as eSignal does.

The IB that I'm talking about starts a climb that goes up to a high of about 1.6523 on cable on Sept. 19th. Start from there and work backwards on the hourly chart. You'll find an IB that looks almost as tight as a plus-sign.

So, I should have proof that DIBS trades are still going on, and with some significant returns, in the near future. And I'm not knowledgeable enough to screw around with PC's formula, so for those of you who think that you just have to tinker with it, the answer is "no." If I could spot it, I'm sure that more practiced veterans can, too.

Stay tuned.
Attached Image
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #10,479
  • Sep 26, 2014 2:11am Sep 26, 2014 2:11am
Those DIBS trades I promised....

I stumbled across these as I was checking the charts.

In case you are curious why I used FF charts instead of other charts or screenshots from GFT's Dealbook 360, I have to trade at a public computer, and the "print screen" features have been disabled (because they don't want dirty old men taking screenshots of porn all day).

I put some notes on each one, and I wrote down the four OHLC prices on the important bars (i.e., the IBs). IN ONE CASE, it is not a true inside bar -- the IB low is one-tenth of a pip below the close of the previous bar -- but the resulting eruption in price occurred nonetheless.

All of these pairs are majors; there are no crosses. (I checked some of the corresponding crosses and aligned them with the IBs on these charts; it seems that IBs did not occur on, say, the GBPJPY charts at the same time they occurred on Cable. But there was a corresponding jump nonetheless.)

Each filename for each .pdf has a brief description.
Attached Image (click to enlarge)
Click to Enlarge Name: Emporio Foto II -- 2013-10-09 wench in old-timey lingerie.jpg Size: 49 KB
Attached File(s)
File Type: pdf DIBS Trade - 2014-09-05 to 2014-09-12 - CABLE hourly chart - Scottish Independence Vote.pdf   1.6 MB | 806 downloads
File Type: pdf DIBS Trade - 2014-07-28 - 2014-08-01 - USDJPY hourly chart.pdf   1.6 MB | 682 downloads
File Type: pdf DIBS Trade - 2014-07-01 - 2014-07-07 - USDJPY hourly chart - two DIBS setups in a week.pdf   1.4 MB | 665 downloads
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #10,480
  • Sep 26, 2014 2:18am Sep 26, 2014 2:18am
...And here are two more DIBS setups on the CABLE hourly chart.

Rest assured, I have NOT read all the posts on the subject of DIBS -- in fact, I don't think I've remembered all of PC's posts. But based on what I know, the same setup happens on the forex charts repeatedly in spite of the influence of QE. All of these charts happened in the past year.
Attached Image (click to enlarge)
Click to Enlarge Name: 30_Hottest_NFL_Cheerleaders_001_tcmag_700.jpg Size: 82 KB
Attached File(s)
File Type: pdf DIBS Trade - 2014-06-11 - 2014-06-17 - GBPUSD hourly chart - a huge DIBS setup.pdf   1.5 MB | 697 downloads
File Type: pdf DIBS Trade - 2014-05-03 - 2014-05-12 - GBPUSD hourly chart - a (recent) DIBS trade.pdf   1.5 MB | 691 downloads
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
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