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need simple indicator for Daily green/red candle 2 replies

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Daily green/red candle

  • #1,101
  • Jun 8, 2015 6:51pm Jun 8, 2015 6:51pm
Here is another twist to the method (posting on permission from dimdel).. I have back tested only on EU from 1 Jan 2015 and win rate is 83%. (Money Management, I risk 2% per trade is key and also dont use this without backtesting)

Rules-
Time FrameDaily
Entry rule: HA color change & Candle color change
Re-entry rule: HA color stays the same but candle color comes back
TP: 150 fib
SL: 50 fib
cut loss: both HA and candle closes in the opposite color
BE: EP+10 pips if price moved to 140 fib (subjective and based on PA--usually TP/SL is hit within 1 day)

Backtesting results:

Summary
Period1-Jan-2015 to 4 Jun 2015
No of signal: 36
Trade did not open: 12
TP: 16
BE: 4
SL: 4
win (incl BE) %83%
win (excl BE) %80%
Pips: 1,096

I have attached a screenshot and the backtesting excel
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily_HA based.png Size: 44 KB
Attached File(s)
File Type: xlsx Backtest_HA method_EU.xlsx   12 KB | 453 downloads
  • #1,102
  • Jun 8, 2015 7:07pm Jun 8, 2015 7:07pm
Quoting sdatta
Here is another twist to the method (posting on permission from dimdel).. I have back tested only on EU from 1 Jan 2015 and win rate is 83%. (Money Management, I risk 2% per trade is key and also dont use this without backtesting) Rules- Time FrameDaily Entry rule: HA color change & Candle color change Re-entry rule: HA color stays the same but candle color comes back TP: 150 fib SL: 50 fib cut loss: both HA and candle closes in the opposite color BE: EP+10 pips if price moved to 140 fib (subjective and based on PA--usually TP/SL is hit within 1...
Gracias
  • #1,103
  • Jun 8, 2015 7:34pm Jun 8, 2015 7:34pm
Quoting sdatta
Here is another twist to the method (posting on permission from dimdel).. I have back tested only on EU from 1 Jan 2015 and win rate is 83%. (Money Management, I risk 2% per trade is key and also dont use this without backtesting) Rules- Time FrameDaily Entry rule: HA color change & Candle color change Re-entry rule: HA color stays the same but candle color comes back TP: 150 fib SL: 50 fib cut loss: both HA and candle closes in the opposite color BE: EP+10 pips if price moved to 140 fib (subjective and based on PA--usually TP/SL is hit within 1...
Here is the HA indicator for the template (taken from some other forum).. (ignore the ABR) and there is a setup on EU...pending order placed
Attached File(s)
File Type: ex4 Heiken Ashi_SWAlert.ex4   10 KB | 366 downloads
File Type: mq4 Heiken Ashi_SWAlert.mq4   5 KB | 451 downloads
  • #1,104
  • Jun 8, 2015 8:26pm Jun 8, 2015 8:26pm
Quoting sdatta
{quote} Here is the HA indicator for the template (taken from some other forum).. (ignore the ABR) and there is a setup on EU...pending order placed {file} {file}
Sdatta
you make the BE on manual trade ? or you run a EA to make the BE?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily 1.png Size: 60 KB
  • #1,105
  • Jun 8, 2015 8:49pm Jun 8, 2015 8:49pm
Quoting Juan007
{quote} Sdatta you make the BE on manual trade ? or you run a EA to make the BE? {image}
Manually, usually the TP or SL is hot within 1 day or max 2 days..
  • #1,106
  • Jun 8, 2015 8:59pm Jun 8, 2015 8:59pm
Quoting sdatta
{quote} Manually, usually the TP or SL is hot within 1 day or max 2 days..
thanks


could you please tell us wich is your broker?

and you gmt time open day?

your system its very nice thanks...... a lot

a colombian coffee to you
  • #1,107
  • Jun 8, 2015 10:34pm Jun 8, 2015 10:34pm
Quoting Juan007
{quote} thanks could you please tell us wich is your broker? and you gmt time open day? your system its very nice thanks...... a lot a colombian coffee to you
Thanks,, IC market and use NY 5 PM candle for daily
  • #1,108
  • Edited 5:41am Jun 9, 2015 5:06am | Edited 5:41am
hi everybody,

I also did some testing and was inspired from the test of this year but after some more testing I noticed that its just running very good at the moment and the test one year or even more back doesn't look so good anymore.

so I just want everybody to be careful who want to trade this way.
I guess a proper more backtest is needed here for everybody who want to use this system.

I general I am happy with the system *thanks for sharing btw / I just think something else is needed to make it useable in long term.
I will look into the idea with HA candles. Since my testing with MA did not brought any better results I keep looking.

I also attached some screens about 175% and 400% , same as the basic rule. this year it works good. but some marked winners in January of UC are BE to my testing so results differ.
My testing screens still got maybe some small mistakes since I am still working on it, like I do first check for SL and then for TP but I like it this way so live can improve a little bit.

TM

EDIT: I totally ignored Trailing here which for sure makes a difference if used properly since the BE Trades are all the time also a big part.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UC one year.jpg Size: 144 KB
Click to Enlarge Name: UC this year.jpg Size: 133 KB
Click to Enlarge Name: UC this year 400tp.jpg Size: 141 KB
Click to Enlarge Name: UC one year 400tp.jpg Size: 142 KB
  • #1,109
  • Jun 9, 2015 7:19am Jun 9, 2015 7:19am
@sdatta

I like the idea, maybe I am mistaken but if I understood it right you look at
Entry rule: HA color change & Candle color change

BUT when the Entry appears you don't know the color, only after the candle Close you know the color for sure.
so I think there is a difference between BT and live trading

TM
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDailz.png Size: 48 KB
  • #1,110
  • Jun 9, 2015 8:26am Jun 9, 2015 8:26am
Quoting tonimono
@sdatta I like the idea, maybe I am mistaken but if I understood it right you look at Entry rule: HA color change & Candle color change BUT when the Entry appears you don't know the color, only after the candle Close you know the color for sure. so I think there is a difference between BT and live trading TM {image}
I look for the color change in the signal candle and then place pending order...for backtesting I manually went to lower timeframe to check the TP and SL (hope this clarifies)..again-- I only risk 2% per trade and only trading EU with this method (currently a trade is open)
  • #1,111
  • Jun 9, 2015 8:30am Jun 9, 2015 8:30am
Quoting tonimono
@sdatta I like the idea, maybe I am mistaken but if I understood it right you look at Entry rule: HA color change & Candle color change BUT when the Entry appears you don't know the color, only after the candle Close you know the color for sure. so I think there is a difference between BT and live trading TM {image}
I could be mistaken, but it appears that waiting for HA confirmation can give a one-candle lagging signal.
  • #1,112
  • Jun 9, 2015 8:34am Jun 9, 2015 8:34am
Quoting ChicagoRob
{quote} I could be mistaken, but it appears that waiting for HA confirmation can give a one-candle lagging signal.
you are right, the HA confirmation gives one candle late... but again my target is 150 fib..
  • #1,113
  • Jun 9, 2015 10:28pm Jun 9, 2015 10:28pm
Quoting sdatta
{quote} you are right, the HA confirmation gives one candle late... but again my target is 150 fib..

EU from yesterday still running... need a lot of patience... hoping for the TP today.. will watch the price action on H4
  • #1,114
  • Jun 9, 2015 11:01pm Jun 9, 2015 11:01pm
I Humbly suggest to use a compination with another FIBO indicator named " #SpudFibo.mq4 " from another thread FF. It calculates Yesterday (PERIOD_D1,+1) High Low to draw Fibo
and make a comparison to entry/exit
says... Previous Day Fibo with Daily Green Red Candle Fibo
  • #1,115
  • Jun 9, 2015 11:44pm Jun 9, 2015 11:44pm
Quoting ChicagoRob
{quote} I could be mistaken, but it appears that waiting for HA confirmation can give a one-candle lagging signal.
Rob,

I noticed the same thing and was about to mention it. You beat me to it : Time difference. I just logged in.
  • #1,116
  • Jun 10, 2015 12:14am Jun 10, 2015 12:14am
hey everyone nice thread

i have a question is there is an indicator for this way ??
it will help for visual back test

if there is no indicator can any one make it ( my coding experience is 0 )

i guess it will be as following

red arrow on the candle that is red and the one before it is green and the one after it have lower low
green arrow on the candle that is green and the one before it is red and the one after it have higher high

and we can add alert also
  • #1,117
  • Jun 10, 2015 12:15am Jun 10, 2015 12:15am
Just my two cents. Would appreciate some input.

But yesterday I tried the FIBO in a different way.

When I saw a red daily candle on on GBPNZD yesterday morning I placed the fibo as per the normal rules. An then I went down to the 1HR time frame and waited for the Price to move ABOVE the 50% retracement and then once it broke (closed ) back below 50% I sold on the next candle. I placed the Stop loss above the 0.00 Fibo and a profit above the 100% at 2.1435. My profit target got hit. Basically I am an intraday trader and usually cannot sleep with an open overnight position. Hence I tried this . Is that a viable strategy ?

I will try it again today and post result tomorrow.
DD

Attachment
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 88 KB
  • #1,118
  • Jun 10, 2015 12:33am Jun 10, 2015 12:33am
Currently I am focusing on EURUSD. Yesterday candle Red. Yesterday Candle close near 50 FIBO. Currently price in in the 38.2 FIBO area.

Waiting for break and close below 50 FIBO on 1 Hour to enter with stop loss at 0.00 FIBO and Target just above 100 FIBO. I understand this not the Strategy as per dimdel. But for intra day traders it just might work. Thanks to dimdel's strategy we have a framework for intraday trades.

DD
  • #1,119
  • Jun 10, 2015 4:33am Jun 10, 2015 4:33am
Quoting Dildubai
Currently I am focusing on EURUSD. Yesterday candle Red. Yesterday Candle close near 50 FIBO. Currently price in in the 38.2 FIBO area. Waiting for break and close below 50 FIBO on 1 Hour to enter with stop loss at 0.00 FIBO and Target just above 100 FIBO. I understand this not the Strategy as per dimdel. But for intra day traders it just might work. Thanks to dimdel's strategy we have a framework for intraday trades. DD

hi to all

Question; why push a pair to give us profits?
we let run the orders and the total basket must be positive

i mean the GBPNZD last 2 months we win only 2 orders , its ok because other pairs will give 8 or 10 win orders

so the basket and the MM must search


Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd.png Size: 30 KB
  • #1,120
  • Jun 10, 2015 4:39am Jun 10, 2015 4:39am
the GBPZND = 2 WIN

BUT LOOK THE GOLD

Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 38 KB
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