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need simple indicator for Daily green/red candle 2 replies

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Daily green/red candle

  • #2,281
  • Jan 5, 2016 6:34pm Jan 5, 2016 6:34pm
Quoting pedrosimao
{quote} First rule very easy to implement. Second rule, what do you mean go from SL to TP? Do you mean break even at 80 points? Or Start Trailing at 80 Points?
I am sorry, I am tired...i meant move SL to BE. Best, Josh
  • #2,282
  • Jan 5, 2016 8:50pm Jan 5, 2016 8:50pm
Ok
I am almost finishing the EA.
I just have a question.

In case the EA open only one pending order (for example, when the Open price is the same as previous Highest), and a big candle (more than 600) occur.
Should the EA delete the Pending Order and wait for next opportunity?

Regards
  • #2,283
  • Jan 5, 2016 8:51pm Jan 5, 2016 8:51pm
Also,

What should be the StopLoss level exactly?

And a suggested TP?
  • #2,284
  • Jan 5, 2016 11:44pm Jan 5, 2016 11:44pm
Quoting Wholesome
{quote} Why do you just answer with this nonsense for?
You are very rude
please get your pail and go to another beach to play
this thread is for serious man no children
I cant and i dont want to manage your EDUCATION
  • #2,285
  • Jan 6, 2016 1:11am Jan 6, 2016 1:11am
Hi friends,

I attached my EA for this system. you can use it on any pair or timeframe, live or demo. I implemented a trailining stop. If you dont wnat to use it, only set it higher and it never will be triggered. Today evening I will implement the other ideas in this forum to test and send it here. Have fun

Ben
Attached File(s)
File Type: ex4 redgreen.ex4   29 KB | 521 downloads
  • #2,286
  • Jan 6, 2016 3:42am Jan 6, 2016 3:42am
hello,
I have just finished a version of the EA that does exactly what you described it should do.
It also uses 150 and 200 fibos as BE and TP...
Buuuut....... the backtests results are totally random. and nothing similar to Dimdels account.
So, i have few questions left about the system:
- Is there a specific time of the day to start and stop trading (puting Pending Orders)?
- In case there is an open position going on, and we get a new Green Red Signal, should we close the position or let it run til SL/BE/TP?
- Finnally, does Dimdel sometimes closes positions in a random way ? Or do you always follow the system strictly?
  • #2,287
  • Jan 6, 2016 3:43am Jan 6, 2016 3:43am
Quoting pedrosimao
Ok I am almost finishing the EA. I just have a question. In case the EA open only one pending order (for example, when the Open price is the same as previous Highest), and a big candle (more than 600) occur. Should the EA delete the Pending Order and wait for next opportunity? Regards
If you use pending orders, and the reversal candle is larger than 600, then the pending order should not be made at all. So, example, you have green candle, followed by a red candle that has closed, if the red candle is larger than 600, no pending should be created.
It would be great if you could allow the size 600 to be modifiable in the EA input, so that experimentation can be made.
As for the targets, if you are running H4, it should be 300% fib for TP, and 0% for SL. Is it possible to make the fib% TP also inputable in EA settings? Try to make as flexible as possible, so many experiments can be made and compared, ofc if possible.

Also, there is another thing. Dimdel said that if the trade goes from entry against him to 23%, he takes another order because it has great R/R. These are all the rules that i can think of.
Best, Josh
  • #2,288
  • Jan 6, 2016 4:33am Jan 6, 2016 4:33am
Quoting dimdel
perhaps we must try with this strategy {image}
I've been making money hand over fist with this syrategy!
  • #2,289
  • Jan 6, 2016 4:38am Jan 6, 2016 4:38am
The first original post of the strategy was saved in Word here:
http://www.forexfactory.com/showthre...33#post8607233

But the thread owner deleted it so I guess some rules has changed since then.
  • #2,290
  • Jan 6, 2016 5:15am Jan 6, 2016 5:15am
Quoting dimdel
{quote} You are very rude please get your pail and go to another beach to play this thread is for serious man no children I cant and i dont want to manage your EDUCATION
I asked some straight forward questions, that was all, I didn't ask about donkeys. If I asked you what the weather was and you replied with the value of Pi that would also be nonsense.

By the questions asked on the thread there seems to be some confusion, as the thread starter I'm sure people would be grateful for some clarification, most threads on here go the same way, dagoods rules seem to be incorrect, why don't you correct them?
  • #2,291
  • Jan 6, 2016 6:24am Jan 6, 2016 6:24am
Quoting pedrosimao
{quote} Well, You should not delete Pending Orders on every new bar. You should left them, till stop is hit, or till there is a new sequence of Green Red. Try this out.
I will try that, I did notice that in dimdels result, he also sometimes updates Open & SL of the pending order to the new (inside) candle.
So the additional rule is: if the order did not open, delete it and if the new candle is a inside bar create a new one.
  • #2,292
  • Jan 6, 2016 6:26am Jan 6, 2016 6:26am
Quoting Wholesome
{quote} I asked some straight forward questions, that was all, I didn't ask about donkeys. If I asked you what the weather was and you replied with the value of Pi that would also be nonsense. By the questions asked on the thread there seems to be some confusion, as the thread starter I'm sure people would be grateful for some clarification, most threads on here go the same way, dagoods rules seem to be incorrect, why don't you correct them?
Dimdel seems to think that you reading the whole thread full of incomplete information will appease the Gods and make you a better trader.
I can think of no other rational explanation of this.

That's why I am trying to reverse-engineer the rules from his results.
  • #2,293
  • Jan 6, 2016 9:08am Jan 6, 2016 9:08am
Yes Plague, like his open trades at the moment there was a buy trade then a sell trade but he hasn't closed the buy, he must let them run until they hit either TP or SL rather than closing on an opposing signal.

The sell that is open seems to have been triggered in an odd place, not 5 pips below the candle but about a 50% retrace, maybe he could exlain why he does this?
  • #2,294
  • Jan 6, 2016 9:45am Jan 6, 2016 9:45am
Quoting Wholesome
Yes Plague, like his open trades at the moment there was a buy trade then a sell trade but he hasn't closed the buy, he must let them run until they hit either TP or SL rather than closing on an opposing signal. The sell that is open seems to have been triggered in an odd place, not 5 pips below the candle but about a 50% retrace, maybe he could exlain why he does this?
Well letting them run *is* an original rule, that's OK. You only remove non-opened trades.

"Breathing room" is hard to define, 5pips is just something to start with. It is a good trading practice to watch for price action, candle formations, etc. which is what dimdel actually does and does quite well seeing his trades.
It's just hard to put that on paper to teach others, which I understand.

And the retrace is 0.236fibo rule for another entry if I am not mistaken.
  • #2,295
  • Jan 6, 2016 9:57am Jan 6, 2016 9:57am
Yet the buy pending order is a normal buy order after the break of the candle.
  • #2,296
  • Jan 6, 2016 11:15am Jan 6, 2016 11:15am
Πατριώτη υπάρχει τρόπος να δει κανεις τους κανόνες του συστήματος σου χωρις να χρειαστει να διαβάσει όλο το thread? Thanks
George
  • #2,297
  • Jan 6, 2016 11:47pm Jan 6, 2016 11:47pm
hi all
friday better stop trading
or trade with 1/3 of normal risk
  • #2,298
  • Jan 7, 2016 12:22am Jan 7, 2016 12:22am
Quoting dimdel
hi all friday better stop trading or trade with 1/3 of normal risk
FRIDAY ???

Where are you trading from?

Attached Image (click to enlarge)
Click to Enlarge Name: friday.png Size: 83 KB
MAY THE TREND BE WITH YOU
  • #2,299
  • Jan 7, 2016 12:55am Jan 7, 2016 12:55am
Quoting Erebus
{quote} FRIDAY ??? Where are you trading from? {image}
HI EREBUS

i didnt say that today is friday
i think i am clear no?........
  • #2,300
  • Jan 7, 2016 2:33am Jan 7, 2016 2:33am
Quoting dimdel
{quote} HI EREBUS i didnt say that today is friday i think i am clear no?........
Apparently not clear enough for me
MAY THE TREND BE WITH YOU
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