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Attachments: Trade based on Market Cycle Indicator
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Trade based on Market Cycle Indicator

  • Post #1
  • Quote
  • First Post: Edited Mar 4, 2020 8:08am Aug 10, 2016 5:12am | Edited Mar 4, 2020 8:08am
This trading strategy is based on the reversal pattern, known as Pin-Bar with regards to the Market Cycle indicator. The Market Cycle indicator tries to predict the future movement of the market based on statistical analysis.

Time frame: M30,. The Market Cycle indicator works on any time frame, though.

Buy signal conditions:

  1. Market Cycle indicator is above zero (with default settings it is a blue histogram bar)
  2. A bullish pin-bar is formed. A bullish pin-bar has a long lower wick and a small upper wick, and its body size is a few times smaller than its lower wick. The body of a bullish pin-bar could be either bullish or bearish.
  3. The previous bar of the pin-bar is bearish.
  4. The low of the pin-bar must be lower than the low of the previous bearish bar.

Sell signal conditions:

  1. Market Cycle indicator is below zero (with default settings it is a red histogram bar)
  2. A bearish pin-bar is formed. A bearish pin-bar has a long upper wick and a small lower wick, and its body size is a few times smaller than its upper wick. The body of a bearish pin-bar could be either bullish or bearish.
  3. The previous bar of the pin-bar is bullish.
  4. The high of the pin-bar must be higher than the high of the previous bullish bar.

Stop loss:

  1. For buy position, set the stop loss below the lower wick of the pin-bar minus the average of spread.
  2. For sell position, set the stop loss above the upper wick of the pin-bar plus the average of spread.

Take profit:
I personally close the position when the next bar (after the pin-bar) is closed.

--- Update 2020-03-04---
Version 1.05 of the indicator released.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 35 KB
Attached File(s)
File Type: ex4 MT7_MarketCycle_IN.ex4   44 KB | 2,951 downloads | Uploaded Mar 4, 2020 8:08am
Trading is the hardest way to make easy money...
Hello friend , thanks for your constant contributions , I wanted to tell you that you did not make an EA based on this indicator and see the retrospective reliability of this indicator. a greeting
Quoting MathTrader7
This trading strategy is based on the reversal pattern, known as Pin-Bar with regards to the Market Cycle indicator. {image}
So it seems that the arrows are pins and the direction is tied to the direction of the histogram (market cycle ind) and if they are not directionally in sync an x or alt signal is given.

The pins can be determined on bar(i) or bar(i+1), are the signals of the histogram also given on the current bar or current bar minus one? Also does the histogram repaint?
Quoting MathTrader7
This trading strategy is based on the reversal pattern, known as Pin-Bar with regards to the Market Cycle indicator. The Market Cycle indicator tries to predict thp Take profit: ..................I personally close the position when the next bar (after the pin-bar) is closed. A sample of trade signals, {file} {image}
Don't mind.. seems modified indicator with your name Logic and market cycle are not as described by you. Why didn't you share source file ? Or have a plan to catch audience and sell later?

it should be commercial item if you are not disclosing source file.
Attached Image
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  • Post #5
  • Quote
  • Edited 6:35am Aug 10, 2016 6:23am | Edited 6:35am
Quoting Pipologist
{quote} So it seems that the arrows are pins and the direction is tied to the direction of the histogram (market cycle ind) and if they are not directionally in sync an x or alt signal is given. The pins can be determined on bar(i) or bar(i+1), are the signals of the histogram also given on the current bar or current bar minus one? Also does the histogram repaint?
Hi Pipologist,

The arrows and crosses are not generated by the current version of the indicator. This is one of my trading strategies that I wanted to share with the community here. In the next versions I will implement arrow-and-cross signs with alerts and notifications.

The pin-bars will be detected on Bar[1]. This is because while the current bar is not closed, the bar might end up as a bin-bar or not. So our decision should be based on Bar[1].

Best,
Math
Trading is the hardest way to make easy money...
Quoting yesyoucan
{quote} Don't mind.. seems modified indicator with your name Logic and market cycle are not as described by you. Why didn't you share source file ? Or have a plan to catch audience and sell later? it should be commercial item if you are not disclosing source file. {image}
Market Cycle is the name I gave to my indicator. There may be other indicators with the same name. And I do not sell anything here. As one can read from my profile, "All software that I share here in FF are free but not open source. This is my personal policy."
Trading is the hardest way to make easy money...
THanks MathTrader! Do you earn on this strategy ?
Quoting Kubiasty
THanks MathTrader! Do you earn on this strategy ?
You're welcome! :-)
Yes, I manually trade based on this strategy every so often, and it is profitable. However, with this strategy the only thing (which is not yet defined for me precisely/mathematically) is how to judge a bar as a valid pin-bar. I use my own judgement to identify pin-bars, but I'm looking for a mechanical way of identifying pin-bars.
Trading is the hardest way to make easy money...
Pinbar? Change timeframe and it's gone. Or a pin on one H4 is no pin on a H4 of a different broker. Doesn't it just indicate 2 opposite moves within 1 bar of your chosen timeframe?
Quoting givik
Hello friend , thanks for your constant contributions , I wanted to tell you that you did not make an EA based on this indicator and see the retrospective reliability of this indicator. a greeting
Hello givik,

I trade this strategy manually since I do not have any mathematical model for identifying a valid pin-bar yet.

Best,
Math
Trading is the hardest way to make easy money...
will you explain the logic of the Market Cycle indicator please?
patience is a virtue
maybe you can use this indicator, i just get it here somewhere. i use this sometimes but with your strategy, we might increase our win rate. thanks
Attached File(s)
File Type: mq4 Pattern_Recognition_Master_v3(Remastered).mq4   27 KB | 2,374 downloads
Quoting MathTrader7
{quote} Hello givik, I trade this strategy manually since I do not have any mathematical model for identifying a valid pin-bar yet. Best, Math
Or you prefere a Pinbar Detector?
Attached File(s)
File Type: mq4 PinbarDetector.mq4   10 KB | 2,114 downloads
Quoting eurix
{quote} Or you prefere a Pinbar Detector? {file}
Quoting cyd09
maybe you can use this indicator, i just get it here somewhere. i use this sometimes but with your strategy, we might increase our win rate. thanks {file}
Thank you guys!
I would take a look at the approach of the attached indicators to find out how they identify pin-bars. But believe me, identifying valid pin-bars is subjective and not trivial.
Trading is the hardest way to make easy money...
  • Post #15
  • Quote
  • Edited 9:57am Aug 10, 2016 9:46am | Edited 9:57am
Eurix Thank you .... for sharing that indicator ....
Is this correct entry ?

Attached Image (click to enlarge)
Click to Enlarge Name: Is this correct.png Size: 34 KB
Quoting Kubiasty
Is this correct entry ? {image}
This entry is valid, however, because of high risk-to-reward ratio I personally would not take this trade.
Trading is the hardest way to make easy money...
MT7, have you given consideration to other types of reversal candles (e.g. engulfing), rather than pinbars?
This looks like it has potential. I'd like to see more charts with setups, though. I'll start posting mine
sometime soon.
Quoting ChicagoRob
This looks like it has potential. I'd like to see more charts with setups, though. I'll start posting mine sometime soon.
I will post more setups, and I'm looking forward to seeing your trades.
Trading is the hardest way to make easy money...
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