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need simple indicator for Daily green/red candle 2 replies

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Daily green/red candle

  • #1,321
  • Jun 26, 2015 4:17am Jun 26, 2015 4:17am
Quoting franky779
{quote} HI Dimdel , i'm very happy for this new set up about best entry , is a 100% quantitative trading set up , no supp and resistance , No EMA , Tecnical analisis ,strong hands do not understand what we are doing but we know what re doing because we have a trading system with unconventional rules set up very specific, but in addition to the set up and management of the operation the focus should be finding money management strategies to complement and optimize the system.
I use MM, somebody wrote it here. If you want risk on one trade for example 2% so you open two trades. 1% each. One with TP as Dimdel 200% fibo. If first trade hits TP at 200% fibo, then you move SL of second trade to BE and set TP 400-500% FIBO. I am happy with this MM.;-) Sometime the second trade makes you really nice profit.. Or you can trailing SL of second trade each day. It's up to you..
  • #1,322
  • Jun 26, 2015 7:53am Jun 26, 2015 7:53am
for me 2 ways MM

1) daily risk (example) 8%
so if i have 6 ( pairs )-signals to trade = 1,33% for each pair

this 1,33% i can seperate in 2 or 3 orders
1st order TP 150fib
2nd order TP 200FIB+TRSL 150FIB
3RD ORDER free run trsl 150fib and later 200fib

2) the same lot at any pair-signal
is too risky but also too profitable
  • #1,323
  • Jun 26, 2015 1:21pm Jun 26, 2015 1:21pm
i want make a prediction
just trend analysis

but really who knows?


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  • #1,324
  • Jun 26, 2015 1:30pm Jun 26, 2015 1:30pm
at 11,30
i will put the orders

but there is a problem
cause eurogroup we dont know how gap will open
so attention

anyway, we are big boys

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  • #1,325
  • Jun 27, 2015 12:33pm Jun 27, 2015 12:33pm
Hi dimdel;

I've been looking at Fractals on and off for a long time. They are good for helping with spotting Market Structure.

Have you looked at Trading the Break of a Fractal?

Short on the Break of a Bearish Fractal - Long on the Break of a Bullish Fractal.

Taking Profit at 1:1 seems to work well without moving the Stop Loss to Break Even.

You either hit your Take Profit or Stop Loss.

Take a look and let me know what you think.
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  • #1,326
  • Jun 27, 2015 1:52pm Jun 27, 2015 1:52pm
Quoting stevepatt
Hi dimdel; I've been looking at Fractals on and off for a long time. They are good for helping with spotting Market Structure. Have you looked at Trading the Break of a Fractal? Short on the Break of a Bearish Fractal - Long on the Break of a Bullish Fractal. Taking Profit at 1:1 seems to work well without moving the Stop Loss to Break Even. You either hit your Take Profit or Stop Loss. Take a look and let me know what you think. {image}

hi steve

i am trying for second time to understand your way
please help me

so i run the simulator to see in real time what are you doing

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its right?
  • #1,327
  • Jun 27, 2015 2:04pm Jun 27, 2015 2:04pm
Quoting stevepatt
Hi dimdel; I've been looking at Fractals on and off for a long time. They are good for helping with spotting Market Structure. Have you looked at Trading the Break of a Fractal? Short on the Break of a Bearish Fractal - Long on the Break of a Bullish Fractal. Taking Profit at 1:1 seems to work well without moving the Stop Loss to Break Even. You either hit your Take Profit or Stop Loss. Take a look and let me know what you think. {image}

bill williams recommends 5th level fractals only in his video ...you can google it ...pretty dry and boring stuff... in research suggests that you need to have at least 7th level or its not technically a fractal at all. i cannot locate the article i read that in... but it was an article about koch curves. i have no idea if this is helpful or not but wanted to put the info up in case it is beneficial.

Kind regards
  • #1,328
  • Jun 27, 2015 2:07pm Jun 27, 2015 2:07pm
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  • #1,329
  • Jun 27, 2015 6:27pm Jun 27, 2015 6:27pm
Quoting dimdel
{image}

Hi dimdel;

What I'm doing is using the Fractal to determine Trade direction instead of a change in candle colour.

You have a Buy and Sell Stop set to the nearest Bullish and Bearish Fractals when a Trade is activated you keep the opposite Pending Order in the Market and as New Fractals form you adjust your Pending Orders accordingly.

By Trading the Fractal Breaks, rather than a change in Candle Colour, means far less Trades will be taken and by just doing a quick visual test looks promising.

I hope the chart below helps to explain things better.
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Click to Enlarge Name: 27th June 15 USD:JPY D1 Chart.png Size: 122 KB
  • #1,330
  • Jun 27, 2015 9:11pm Jun 27, 2015 9:11pm
Quoting stevepatt
{quote} Hi dimdel; What I'm doing is using the Fractal to determine Trade direction instead of a change in candle colour. You have a Buy and Sell Stop set to the nearest Bullish and Bearish Fractals when a Trade is activated you keep the opposite Pending Order in the Market and as New Fractals form you adjust your Pending Orders accordingly. By Trading the Fractal Breaks, rather than a change in Candle Colour, means far less Trades will be taken and by just doing a quick visual test looks promising. I hope the chart below helps to explain things...
Not bad, stevepatt!

I am trading something like this ( not on daily TF though), so, trying to add my 2 cents, might be of benefits.
My finding is that while for me W% stays only about 55% on the long run with fractals, using a sensible SL, and a point where BE set.
So, the key might be hidden what SL-BE-TP combination to use that fits into both your risk profile and personality.
I figured that around 1.5x RR ratio can do great for myself, both in the returns, as well as with DD.
Again, they key is to find the right number combination. I don't believe fixing the SL to a candle helps to find a stable RR profile as much as a numbers set.
there is always, always another trade!!
  • #1,331
  • Jun 28, 2015 12:55am Jun 28, 2015 12:55am
Quoting dimdel
for me 2 ways MM 1) daily risk (example) 8% so if i have 6 ( pairs )-signals to trade = 1,33% for each pair this 1,33% i can seperate in 2 or 3 orders 1st order TP 150fib 2nd order TP 200FIB+TRSL 150FIB 3RD ORDER free run trsl 150fib and later 200fib 2) the same lot at any pair-signal is too risky but also too profitable
hi

I wrote an indicator for your strategy ver3. In the presence of a signal it gives "buy / sell" and calculates the lot on the value the loss on the deal.
So it looks
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Attached File(s)
File Type: ex4 Green_red_v3.ex4   7 KB | 301 downloads
File Type: mq4 Green_red_v3.mq4   2 KB | 411 downloads
  • #1,332
  • Jun 28, 2015 2:19am Jun 28, 2015 2:19am
Quoting stevepatt
{quote} Hi dimdel; What I'm doing is using the Fractal to determine Trade direction instead of a change in candle colour. You have a Buy and Sell Stop set to the nearest Bullish and Bearish Fractals when a Trade is activated you keep the opposite Pending Order in the Market and as New Fractals form you adjust your Pending Orders accordingly. By Trading the Fractal Breaks, rather than a change in Candle Colour, means far less Trades will be taken and by just doing a quick visual test looks promising. I hope the chart below helps to explain things...
ok steve
i must run it
in first view give few but good signals
i must look on it real this week

there isnt the best week for anything the next week, because TSIPRAS
Tokyo tonight will see the teeth of the bear

thats the reason that we must act as a TEAM
i think is imposible a man do all alone

thanks my friend
  • #1,333
  • Jun 28, 2015 2:28am Jun 28, 2015 2:28am
Quoting Azzych
{quote} hi I wrote an indicator for your strategy ver3. In the presence of a signal it gives "buy / sell" and calculates the lot on the value the loss on the deal. So it looks {image} {file} {file}

at first thanks for your code friend Azzych
but how i can use it?

i mean...

at 12,00 i see 5 pairs with the best close system

so
i want totaly risk 14% for any day = 14%/5 pairs = 2,8% for any pairs
capital 6200
so
1st pair sl=133pip lot?
2nd pair sl=22pip lot?
...
...
...
how i can use your indicator?
i cant find the way
thanks
  • #1,334
  • Edited 11:05am Jun 28, 2015 8:40am | Edited 11:05am
If you want "totaly risk 14% for any day = 14%/5 pairs = 2,8% for any pairs" you just need to put 2.8% in to indicator settings.

For example formula for sell: Maximum price of closed bar - Close price = 2.8% of your balance.

So it means ,with 6200 balance any your trade will SL- 173.6$
In pips it can be any amount.
so
1st pair sl=133pip lot = 1.31 (173.6$ / 133 pips)
2nd pair sl=22pip lot = 7.89


My MM is - 2% loss for one trade, so i dont need to change indicator settings for any trade.
  • #1,335
  • Edited 1:35pm Jun 28, 2015 12:37pm | Edited 1:35pm
hi dimdel

I like your strategy.
I am a beginner.
But i think ,
The combination of The following method with your strategy Have a good result.
(Though The number of signals Will be low)

For long:

1- Body of the latest Daily candle is greater than body of the previous 2 daily candles
2- Previous daily candle must be bearish
3- Close of latest candle is more than close of the previous candle

For short:

1- Body of the latest Daily candle is greater than body of the previous 2 daily candles
2- Previous daily candle must be bullish
3- Close of latest candle is less than close of the previous candle

best regard
yeganeh
be healthy and wealthy... Ceeport
  • #1,336
  • Jun 28, 2015 2:43pm Jun 28, 2015 2:43pm
Quoting shahed58
hi dimdel I like your strategy. I am a beginner. But i think , The combination of The following method with your strategy Have a good result. (Though The number of signals Will be low) For long: 1- Body of the latest Daily candle is greater than body of the previous 2 daily candles 2- Previous daily candle must be bearish 3- Close of latest candle is more than close of the previous candle For short: 1- Body of the latest Daily candle is greater than body of the previous 2 daily candles 2- Previous daily candle must be bullish 3- Close of latest...
Please kindly show pictures for illustration. Thanks
  • #1,337
  • Jun 29, 2015 5:14am Jun 29, 2015 5:14am
i closed friday night orders

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  • #1,338
  • Jun 29, 2015 5:26am Jun 29, 2015 5:26am
Quoting dimdel
i closed friday night orders {image}
Dimdel, you use the first post 2nd verison system, or HA best entry method?
Sorry my horrible english :-)
  • #1,339
  • Jun 29, 2015 5:38am Jun 29, 2015 5:38am
Quoting orkati
{quote} Dimdel, you use the first post 2nd verison system, or HA best entry method?

HA best entry method
  • #1,340
  • Jun 29, 2015 5:40am Jun 29, 2015 5:40am
in second demo
i test some other ways (but similar ) and if i have good results i will post the way
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