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need simple indicator for Daily green/red candle 2 replies

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Daily green/red candle

  • #501
  • May 18, 2015 2:15am May 18, 2015 2:15am
Quoting dimdel
{quote} thats why you have 286% return your maths are better
I still have much to learn from you mate. Hopefully, I can nick some pips through your system.
  • #502
  • May 18, 2015 2:47am May 18, 2015 2:47am
Quoting Dezil
EA attached. settings: RiskSum - the sum in dollars which you want to risk in each trade. Default 0 RiskPercent - what part of current balance you want to risk in each trade. Default 3%. If you set it to 0 then EA will use RiskSum to calculate risk per trade SLfactor - what part of previous candle size you want to use as SL. Default 1 - that means that SL is all previous candle size. TPfactor - the same as SL. Default 1 - means that TP=SL or RR 1/1 or TP is Fibo 200. So if you want RR 1/2 set it to 2. Actually you can use any value. BEfactor - when...
Maybe you can add basic filtering. EMA. it's easy and it could make trades only in direction of trend. And If you can it could be good to test trailing SL with this strategy because I think it wasn't discussed yet. And manually bactest TSL is really difficult.:-) Thanks

Today I manually opened first trades with this strategy. I am short on NZDJPY&GBPUSD for today.
  • #503
  • May 18, 2015 2:51am May 18, 2015 2:51am
I'm short in G/U, and the opposite long in U/J and U/Cad
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #504
  • May 18, 2015 2:57am May 18, 2015 2:57am
[quote=FxLapozi;8267926]{quote} The problem is some people condemn a system without really having adequate knowledge on trading. I believe every system works on its own but not to perfection. The fact that people share it is because they need general insight from other traders to modify and enhance it so that the performance is close to perfection.......


I totally agree with that all you said
and thanks Lapozi for you help with your oppinions

i would like to add something

I do not know the knowledge that everyone here to Trade
i sure that my level is to 3 in scale 10

and For this reason I must to be very careful
because maybe affect someone and driving in disaster without my will

now for the system
when we are in trend we are all winners

the problem is the range market
can you find a way to tell me exactly when start in/out the range? please do it
there are many indicators/oscilators that can show us the range area, but we see it after and no before

any way i will test with demo searching ( locking my profits, for now)
anyone can help with ideas ,
my concept is the daily momentum candle without the big trend
thanks
  • #505
  • May 18, 2015 3:02am May 18, 2015 3:02am
Quoting dimdel
Quoting FxLapozi
{quote} The problem is some people condemn a system without really having adequate knowledge on trading. I believe every system works on its own but not to perfection. The fact that people share it is because they need general insight from other traders to modify and enhance it so that the performance is close to perfection....... I totally agree with that all you said and thanks Lapozi for you help with your oppinions i would like to add something I do not know the knowledge that everyone here to Trade i sure that my level
...
Price Action is the only way. The saying goes "Candles light up the darkness". Read the candlestick. It tells you to get in, get out, go North or go South.

For instance, referring to andy_l's post, I would not have enter into U/C trade. The bull power is not convincing enough to warrant an upside movement. If you read the daily chart (which i cant post now cos I am at work), it shows the range market U/C has been in since 12/5/2015. It's between 192x-2090 range. I certainly wont enter the trade at 2040 like he did. A bit too late of entry with profit margin of 50pips and SL of maybe greater( if we put the SL at last low, it would mean -120pips for stop loss). The Risk:Reward ratio just doesnt add up.
  • #506
  • May 18, 2015 3:14am May 18, 2015 3:14am
Quoting dafa
{quote} Maybe you can add basic filtering. EMA. it's easy and it could make trades only in direction of trend. And If you can it could be good to test trailing SL with this strategy because I think it wasn't discussed yet. And manually bactest TSL is really difficult.:-) Thanks Today I manually opened first trades with this strategy. I am short on NZDJPY&GBPUSD for today.
hi dafa
good idea
but

if i was Dezil i would like to see
a purpose the at least 3 month manually backtesting in at least 3 pairs and if the result are better than these that we have
then yes i will make the code

but imagine all of us we have many ideas so how many EA we can make?

of caurse is not mine issue what Dezil will do
only my opinion
  • #507
  • May 18, 2015 3:20am May 18, 2015 3:20am
Quoting dimdel
{quote} hi dafa good idea but if i was Dezil i would like to see a purpose the at least 3 month manually backtesting in at least 3 pairs and if the result are better than these that we have then yes i will make the code but imagine all of us we have many ideas so how many EA we can make? of caurse is not mine issue what Dezil will do only my opinion
It could be true if the coding is hard but I think EMA filter is something very easy in MQL4. So if coding this feature take 15 min for someone who can code other people save much more time manually bactesting. Right?
  • #508
  • May 18, 2015 3:30am May 18, 2015 3:30am
Quoting FxLapozi
{quote}{quote} Price Action is the only way. The saying goes "Candles light up the darkness". Read the candlestick. It tells you to get in, get out, go North or go South. For instance, referring to andy_l's post, I would not have enter into U/C trade. The bull power is not convincing enough to warrant an upside movement. If you read the daily chart (which i cant post now cos I am at work), it shows the range market U/C has been in since 12/5/2015. It's between 192x-2090 range. I certainly wont enter the trade at 2040 like he did. A bit too late...

I think USDCAD is ready to go.......


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.png Size: 61 KB


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD1.png Size: 35 KB
  • #509
  • May 18, 2015 3:41am May 18, 2015 3:41am
Price Action is the only way. The saying goes "Candles light up the darkness". Read the candlestick. It tells you to get in, get out, go North or go South. For instance, referring to andy_l's post, I would not have enter into U/C trade. The bull power is not convincing enough to warrant an upside movement. If you read the daily chart (which i cant post now cos I am at work), it shows the range market U/C has been in since 12/5/2015. It's between 192x-2090 range. I certainly wont enter the trade at 2040 like he did. A bit too late of entry with profit margin of 50 pips and SL of maybe greater( if we put the SL at last low, it would mean -120pips for stop loss). The Risk:Reward ratio just doesnt add up.[/quote]

This is a fantastic system but as you said price action especially on 1 day time frame is essential
Draw support and resistance levels on your daily chart ( if not sure go though Tom Weller's Youtube video on the daily alert strategy)
Don't buy going into resistance level unless your profit level can be reached without hitting these levels
Don't sell going into support levels unless your profit level can be reached without hitting these levels
Time and time again the trend will reverse when touching these levels
  • #510
  • May 18, 2015 4:59am May 18, 2015 4:59am
FxLapozi,

Tks for your comment, the reason behind why I jumped in with long U/C is based on:
1. All the price is correlation with USD --> means: If G/U and E/U is going South, then U/J or U/C directions is the opposite.
2. From my chart D1 and H1 --> my line indicator is pointing upward --> for me this is the signal for me to go long (there's a resistance up there @ 2054)

The price direction could go the opposite way of what my indicator shows, at the end the market has the control :-)

Just my though, and thanks for the opinions.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD 180515.jpg Size: 247 KB







For instance, referring to andy_l's post, I would not have enter into U/C trade. The bull power is not convincing enough to warrant an upside movement. If you read the daily chart (which i cant post now cos I am at work), it shows the range market U/C has been in since 12/5/2015. It's between 192x-2090 range. I certainly wont enter the trade at 2040 like he did. A bit too late of entry with profit margin of 50pips and SL of maybe greater( if we put the SL at last low, it would mean -120pips for stop loss). The Risk:Reward ratio just doesnt add up.[/quote]
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #511
  • Edited May 19, 2015 3:50am May 18, 2015 6:50am | Edited May 19, 2015 3:50am
FYI.

EDIT: Data below has been updated so the NZDUSD pair is included!

Hi everyone,

I have paper traded this method for 2 weeks now. I just want to show the potential of this method if you're not already aware of it.

Broker: Tickmill
TP: 50 pips
SL: 100 pips
TS: None
28 pairs
Trades are closed at the close of the daily candle, no matter profit or loss.


Winners: 101
Losers: 23
N/T - Not traded: 181

Profit 2 weeks: 3489 pips

Updated 19-5-2015

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 83 KB


Updated 19-5-2015

Attached File(s)
File Type: xls TradingRecord.xls   43 KB | 415 downloads
Blindly following others will make you blind!
  • #512
  • May 18, 2015 9:49am May 18, 2015 9:49am
Quoting Georgebaker
FYI. EDIT: Data below has been updated so the NZDUSD pair is included! Hi everyone, I have paper traded this method for 2 weeks now. I just want to show the potential of this method if you're not already aware of it. Broker: Tickmill TP: 50 pips SL: 100 pips TS: None 28 pairs Winners: 101 Losers: 24 N/T - Not traded: 180 Profit 2 weeks: 3417 pips {image} {file}

yes , why not

my disagreement :
---if you win 10 times you need 5 loses ( in range market is very easy) and you are zero profit .
---you enter at new open ?
---the backtest is only 2 weeks?
--demo or lice?
  • #513
  • May 18, 2015 9:51am May 18, 2015 9:51am
[quote=andy_l;8268279]




ok andy you must got it
  • #514
  • May 18, 2015 10:06am May 18, 2015 10:06am
Quoting dimdel
{quote} yes , why not my disagreement : ---if you win 10 times you need 5 loses ( in range market is very easy) and you are zero profit . ---you enter at new open ? ---the backtest is only 2 weeks? --demo or lice?
Yes enter at new open.

Yes only 2 weeks

Yes it 'only' demo
Blindly following others will make you blind!
  • #515
  • May 18, 2015 10:10am May 18, 2015 10:10am
Quoting Georgebaker
{quote} Yes enter at new open. Yes only 2 weeks Yes it 'only' demo
ok thanks George

if work to you and you have make your test ok, go on
and if you are profitable , i will follow you
  • #516
  • May 18, 2015 10:21am May 18, 2015 10:21am
Quoting dimdel
{quote} ok thanks George if work to you and you have make your test ok, go on and if you are profitable , i will follow you
I'll let you know how it goes
Blindly following others will make you blind!
  • #517
  • May 18, 2015 10:35am May 18, 2015 10:35am
Quoting raylin
Price Action is the only way. The saying goes "Candles light up the darkness". Read the candlestick. It tells you to get in, get out, go North or go South. For instance, referring to andy_l's post, I would not have enter into U/C trade. The bull power is not convincing enough to warrant an upside movement. If you read the daily chart (which i cant post now cos I am at work), it shows the range market U/C has been in since 12/5/2015. It's between 192x-2090 range. I certainly wont enter the trade at 2040 like he did. A bit too late of entry with profit...
This is a fantastic system but as you said price action especially on 1 day time frame is essential Draw support and resistance levels on your daily chart ( if not sure go though Tom Weller's Youtube video on the daily alert strategy) Don't buy going into resistance level unless your profit level can be reached without hitting these levels Don't sell going into support levels unless your profit level can be reached without hitting these levels Time and time again the trend will reverse when touching these levels[/quote]
U/C up almost 100 pips above Friday close.
  • #518
  • May 18, 2015 11:20am May 18, 2015 11:20am
[quote=dimdel;8268851]
Quoting andy_l
ok andy you must got it
You're the man.. Dimdel
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #519
  • May 18, 2015 11:21am May 18, 2015 11:21am
Quoting Georgebaker
FYI. EDIT: Data below has been updated so the NZDUSD pair is included! Hi everyone, I have paper traded this method for 2 weeks now. I just want to show the potential of this method if you're not already aware of it. Broker: Tickmill TP: 50 pips SL: 100 pips TS: None 28 pairs Winners: 101 Losers: 24 N/T - Not traded: 180 Profit 2 weeks: 3417 pips {image} {file}
Hi George,

What method do you enter the trade (as an example GU)?
Could you explain?

Thx
Attached Image (click to enlarge)
Click to Enlarge Name: trading_record.png Size: 22 KB
  • #520
  • May 18, 2015 11:31am May 18, 2015 11:31am
Quoting zego
{quote} Hi George, What method do you enter the trade (as an example GU)? Could you explain? Thx {image}
Hi Zego,

Please see this post on how to trade this method(Its not mine - I have just tested it) - http://www.forexfactory.com/showthre...89#post8190389
Blindly following others will make you blind!
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