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need simple indicator for Daily green/red candle 2 replies

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Daily green/red candle

  • #521
  • May 18, 2015 11:59am May 18, 2015 11:59am
Quoting tomthepoppop
{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
U/C up almost 100 pips above Friday close.[/quote]
Hi Tom the pop pop You are right $/cad up over 100 pips
Below is the daily chart of the $/cad Using support and resistance lines I can see about 14 times that the price as bounced off support and resistance levels
I can see maybe three that have gone through those levels . Look out for the candle that is heading towards the 2.2180 level it could break through that level or it could bounce
Attached Image (click to enlarge)
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  • #522
  • May 18, 2015 12:12pm May 18, 2015 12:12pm
Quoting Georgebaker
{quote} 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
Thanks George,
but neither this nor the not meet where I marked with question mark, imo.
  • #523
  • May 18, 2015 2:45pm May 18, 2015 2:45pm
USDCAD
we see tha range area but after formation
but anyway if with magic way we know when range start+end
will have this

v=win
x=lose
nothing= BE

Attached Image (click to enlarge)
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  • #524
  • May 18, 2015 2:49pm May 18, 2015 2:49pm
BUT as you see in backtest with the EA the results isnt good for 2014
  • #525
  • May 18, 2015 5:10pm May 18, 2015 5:10pm
Quoting dimdel
BUT as you see in backtest with the EA the results isnt good for 2014
I don't use an EA, so its difficult to comment on that.

You can see on my spreadsheet it's profitable.
Blindly following others will make you blind!
  • #526
  • May 18, 2015 5:17pm May 18, 2015 5:17pm
Quoting zego
{quote} Thanks George, but neither this nor the not meet where I marked with question mark, imo.
@zego - What part of the entry from that post are you in doubt?

Be aware of that the method in here are different from the other thread. Two different way of trading this.

Please ask over there and i will be happy to explain it if you need help
Blindly following others will make you blind!
  • #527
  • May 18, 2015 6:02pm May 18, 2015 6:02pm
Quoting Georgebaker
{quote} @zego - What part of the entry from that post are you in doubt? Be aware of that the method in here are different from the other thread. Two different way of trading this. Please ask over there and i will be happy to explain it if you need help
George,

He is asking about the results you posted, compared to the chart of GBPUSD he posted

How did you get the -100 on 5-5-15 when there is no color change?

Why is there +50 when there is color change but trade not with color?

How can you trade with color change, enter at open and still win?

Please recheck your backtest for correct analysis, perhaps you got confused?

Thanks, John
It takes a lot for me to IGNORE you, but you can try.
  • #528
  • May 18, 2015 6:26pm May 18, 2015 6:26pm
Quoting dimdel
BUT as you see in backtest with the EA the results isnt good for 2014
I think people are missing out on the ultimate benefit of studying this method and watching the DAILY charts

After awhile you will understand PRICE ACTION

IF and when you see and recognize a great setup on your demo, then you take the trade in the real account

Doesn't matter if the EA is overall profit on EVERY pair, ALL the time does it?

You only use it like a GPS for your real trading; take only the best road
It takes a lot for me to IGNORE you, but you can try.
  • #529
  • May 18, 2015 6:44pm May 18, 2015 6:44pm
Quoting ChicagoRob
{quote} Honestly, I think the best way to run this strategy is to look at the price action and let that be your guide. IOW, trade what you see. Dimdel, don't stay away too long. And thank you very much for posting your strategy. Chicago
ABSOLUTELY CORRECT

as I just posted, the EA can be your guide but your ultimate goal is to recognize PRICE ACTION

someone asked about trend filter, try this, it's a Non Lag Moving Average, set to 1 for Exponential and I use 40 period on this chart

of course you will miss the very tops and bottoms, but the rest will be great trading with big trends
Attached Image (click to enlarge)
Click to Enlarge Name: 19-05-2015 9-29-25 AM.png Size: 322 KB
Attached File(s)
File Type: ex4 UltFxTrend.ex4   5 KB | 958 downloads
It takes a lot for me to IGNORE you, but you can try.
  • #530
  • May 18, 2015 6:45pm May 18, 2015 6:45pm
Quoting Erebus
{quote} I think people are missing out on the ultimate benefit of studying this method and watching the DAILY charts After awhile you will understand PRICE ACTION IF and when you see and recognize a great setup on your demo, then you take the trade in the real account Doesn't matter if the EA is overall profit on EVERY pair, ALL the time does it? You only use it like a GPS for your real trading; take only the best road
No truer words were ever spoken.
  • #531
  • May 18, 2015 9:49pm May 18, 2015 9:49pm
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}
very nice
  • #532
  • May 18, 2015 10:53pm May 18, 2015 10:53pm
Quoting Erebus
{quote} ABSOLUTELY CORRECT as I just posted, the EA can be your guide but your ultimate goal is to recognize PRICE ACTION someone asked about trend filter, try this, it's a Non Lag Moving Average, set to 1 for Exponential and I use 40 period on this chart of course you will miss the very tops and bottoms, but the rest will be great trading with big trends {image} {file}
Also said the same thing last week... The original signal should be reversed and used for trend following...
  • #533
  • May 18, 2015 11:35pm May 18, 2015 11:35pm
Hi
I have a question
If the new candle color green and the previous high of the red color 1.4120
Which price i should place my pending order if exactly at 1.1420 or above that level with som points¿ and if so how many points
  • #534
  • May 18, 2015 11:47pm May 18, 2015 11:47pm
Quoting remym17
Hi I have a question If the new candle color green and the previous high of the red color 1.4120 Which price i should place my pending order if exactly at 1.1420 or above that level with som points and if so how many points

hi rem

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  • #535
  • May 18, 2015 11:58pm May 18, 2015 11:58pm
Quoting Erebus
{quote} George, He is asking about the results you posted, compared to the chart of GBPUSD he posted How did you get the -100 on 5-5-15 when there is no color change? Why is there +50 when there is color change but trade not with color? How can you trade with color change, enter at open and still win? Please recheck your backtest for correct analysis, perhaps you got confused? Thanks, John
Exactly.
Thanks Erebus.
--
Z.
  • #536
  • May 19, 2015 12:22am May 19, 2015 12:22am
i see that some friends want at first to help
and show us for example that the price action maybe is THE WAY
in my hard disk i have 5GB strategys, ideas etc, ok

my oppinion is:

if i want to give my idea
1) trend trader or scapling?
2) i must test if my idea is better from the previus idea, if yes ok
of caurse later we can see the errors but at least the 1st view must be better
2) my idea must have in 3 pairs good result and only then have statistical result ( the only 2 pairs = chaotic behavior)
3) i give my way to other friend to test it and no as SURE suggestion
etc.....

all these are only to win time and no to spend it in 1000 strategys roads
no need to agree, just thoughts
thanks

example
what is better to follow?
thanks
Attached Image (click to enlarge)
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  • #537
  • May 19, 2015 12:26am May 19, 2015 12:26am
or post 17,18
for dynamic traders
  • #538
  • May 19, 2015 12:34am May 19, 2015 12:34am
Thanks dimdel

Very claer answer many thanks
  • #539
  • May 19, 2015 12:45am May 19, 2015 12:45am
Quoting dimdel
i see that some friends want at first to help and show us for example that the price action maybe is THE WAY in my hard disk i have 5GB strategys, ideas etc, ok my oppinion is: if i want to give my idea 1) trend trader or scapling? 2) i must test if my idea is better from the previus idea, if yes ok of caurse later we can see the errors but at least the 1st view must be better 2) my idea must have in 3 pairs good result and only then have statistical result ( the only 2 pairs = chaotic behavior) 3) i give my way to other friend to test it and no...
What happened to ur live acc in explorer?

Ur thread is becoming indicators driven. More indicators, more devils.
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #540
  • May 19, 2015 12:47am May 19, 2015 12:47am
Quoting Opemipo
{quote} What happened to ur live acc in explorer? Ur thread is becoming indicators driven. More indicators, more devils.

hi opem

i have lock my 300% profit
and i am thinking now....
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