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Follow the BIG Candle

  • #281
  • May 3, 2014 7:48am May 3, 2014 7:48am
The Big Candle 4 was a Big disappointment this month.

It certainly needs more work, and better be used on higher time frames, with fixed position sizing.

I am posting the MQL source file, for people willing to improve.
Attached File(s)
File Type: mq4 Big_Candle_04.mq4   12 KB | 1,427 downloads
No guts, no glory
  • #282
  • May 3, 2014 12:20pm May 3, 2014 12:20pm
hi Abo

you have an interesting thread here !!! Thanks for posting it.
i have not yet tested it, but have some propositions about it:
- what order to send ?
to answer to it, i should glance at the big picture to know how is the main trend: w1 trend channel let you know if its hard trending, rising or falling, or ranging; it let you also known when/where it should bounce.
Then an external daily pivot / weekly pivot ratio will help testing and find secure order, and maybe use of buy/sell stop (for breaking levels) or buy/sell limit order to catch some pullback.
- when to place order ?
1) active hours: -1h / +2h around of London/NY open sessions (Tokyo works with the BOJ 2/3 H after opening)
2) news: your EA take advantage of them; maybe some pending orders with expiration will help a lot here.
3) main support/resistance and higher TF pivot: scary to place an order too close of these levels (or use pending orders here too)
4) detection of consolidation zone: after a big move, often the market calm down (smaller candles to tiny ones): here some pending orders can catch the pullback, and also be ready for the next break, continuing the main trend.
- money management: should adapt the % risk used depending of the scary levels. Then SL & TS have to glance at these levels also.

I am a fan of the huge timeframe trend, before following on smaller ones.
  • #283
  • May 4, 2014 5:50am May 4, 2014 5:50am
Quoting dinofx
hi Abo you have an interesting thread here !!! Thanks for posting it. i have not yet tested it, but have some propositions about it: - what order to send ? to answer to it, i should glance at the big picture to know how is the main trend: w1 trend channel let you know if its hard trending, rising or falling, or ranging; it let you also known when/where it should bounce. Then an external daily pivot / weekly pivot ratio will help testing and find secure order, and maybe use of buy/sell stop (for breaking levels) or buy/sell limit order to catch some...
Good Points.
No guts, no glory
  • #284
  • May 4, 2014 10:40am May 4, 2014 10:40am
Comparing ATR vs Standard Deviation : knowing if the market is ranging or trending
http://www.forexfactory.com/showthre...71#post5355171
  • #285
  • Dec 18, 2014 3:38am Dec 18, 2014 3:38am
This robot will join the Robot Lab Project​ soon.
No guts, no glory
  • #286
  • Dec 18, 2014 4:23am Dec 18, 2014 4:23am
This EA looks similar to an EA I was always trying to get to work when I was newb. I always got so close and it worked brilliantly in backtest and even in demo but not quite enough oomph in live. On occasions I have gone back to it when I've been bored to find the right settings.
It works on a similar principle with "bar size" as one of the main settings. A couple of the other settings were the Break Even or Better function and also could include a TS when a % in profit (similar to you taking partial), More Pips that entered the trade once PA passed the trigger bar by an amount of micro pips (a negative value could be used here) and the last main setting was Bars to Wait that would wait for so many bars after the trigger bar.
The EA was designed to be a scalper but I did backtest with the Large Candle theory and often with a 100% success rate... I just was never patient enough to apply it in live trading.
Anyway just some ideas to play with. Good luck on the EA.

Oh forgot, it also had a time function to only place trades between certain periods too.
As the lights go by so too do the shadows move
  • #287
  • Dec 24, 2014 12:01am Dec 24, 2014 12:01am
Quoting Matts Micro
This EA looks similar to an EA I was always trying to get to work when I was newb. I always got so close and it worked brilliantly in backtest and even in demo but not quite enough oomph in live. On occasions I have gone back to it when I've been bored to find the right settings. It works on a similar principle with "bar size" as one of the main settings. A couple of the other settings were the Break Even or Better function and also could include a TS when a % in profit (similar to you taking partial), More Pips that entered the trade once PA passed...
Thanks for your input Matts and Sorry for the late response, as I spend most of my free time in "Robot Lab".
The "Big Candle" will be discussed and hopefully improved in the Robot Lab. Join us there if you like.
No guts, no glory
  • #288
  • Apr 15, 2015 7:25pm Apr 15, 2015 7:25pm
Mr.Abokwaik Strike Trader Is Opposite of Your Entries Criteria Because They Use ATRValue SL & TP As A Zone And There SL Value Is Larger And TP Value Is Smaller a M30StopLoss=ATR(20)x6-8 M30TaKeProfit=ATR(20)x10 Negative R:R a1:2? But It suppose To Increase Probability To 74% With Few Draw downs while still having a Large Enough Winning Trades To Yield A Profit. They Also Use Pullback Conclusion For Entries
Strike Trader video
Inserted Video

Inserted Video

Inserted Video


PS This is a good cost Effective VPS for MT4 https://bestvps.us/
https://www.inmotionhosting.com/vps-hosting

Thank You for sharing your EA to fellow Traders Much Apprecieated
  • #289
  • Edited 4:06pm Aug 19, 2015 12:01pm | Edited 4:06pm
Quoting abokwaik
The Big Candle 4 was a Big disappointment this month. It certainly needs more work, and better be used on higher time frames, with fixed position sizing. I am posting the MQL source file, for people willing to improve. {file}
I have the Ea back tested with m15 on different pairs and it made winner overall except eurchf
my modulation quality is not so good but I think it doesn't matter much on a m15 TF
gbpjpy http://prntscr.com/86i1l3
gbpusd http://prntscr.com/86i27s

looks promising

edit:
more: if we have winning EA on m15 why not make the TF rolling? You can loose many entries. There is no reason to look only (for example) for a time like 8h00 to 8h14 and 8h15 to 8h29. there could be a trigger from 8h05 to 8h19 or 8h06 to 8h20. So take 15x m1 candles and see if there is a trigger in a (rolling) m15 TF

please make me also a version with setting to reverse trade. m1 big candles like to do retrace. And a limit option in pip maybe useful.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #290
  • Aug 19, 2015 4:31pm Aug 19, 2015 4:31pm
something is wrong, why this trades closed here
http://prntscr.com/86lo1u
http://prntscr.com/86loyi
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #291
  • Sep 29, 2016 8:18am Sep 29, 2016 8:18am
Assalamuallaikum Khalil!

I have an idea about entry for BigCandle EA (I think this is new idea). To determine big candle we use your basic formula by multiplied ATR value so there is no change for this. What we change is place a pending order (BuyStop on High of Big bullish candle or SellStop on Low of the bearish candle) and we put SL on the opposite side (Low of candle for BuyStop and High of candle for SellStop) generally this is breakout technique. If needed we can set some pips space between High or Low to our pending order. For TP we can add fix number of pips or use auto set as big as SL, if the SL is 30 pips so TP is 30 pips also (1:1 RR) or we use trailing stop to keep our trade long way. For Money Management we use what you've done on the big candle EA or input fix lot size.

Oh almost forgot to mention, the pending order that is not hit, will be canceled if the EA generate new signal and put new pending order. And if there is position running, there will be no new entry on same pair for same direction. If new signal found for opposite direction, the running trade will be closed.

That's what I think in my head, what do you think?
Regards
  • #292
  • Sep 29, 2016 8:54am Sep 29, 2016 8:54am
Quoting Hirangan
Assalamuallaikum Khalil! I have an idea about entry for BigCandle EA (I think this is new idea). To determine big candle we use your basic formula by multiplied ATR value so there is no change for this. What we change is place a pending order (BuyStop on High of Big bullish candle or SellStop on Low of the bearish candle) and we put SL on the opposite side (Low of candle for BuyStop and High of candle for SellStop) generally this is breakout technique. If needed we can set some pips space between High or Low to our pending order. For TP we can add...
These are 2 quick test versions I made back in January, one using limit orders on retraces and the other using stop orders on break outs.
I remember limit orders performed better.

You can test them. Source code is provided if coders like to drop in. I am off to a 1-week trip, so might not be able to assist during this time.
Attached File(s)
File Type: mq4 Big_Candle_06.mq4   4 KB | 1,121 downloads
File Type: mq4 Big_Candle_05.mq4   4 KB | 897 downloads
No guts, no glory
  • #293
  • Sep 29, 2016 10:14am Sep 29, 2016 10:14am
Quoting abokwaik
{quote} These are 2 quick test versions I made back in January, one using limit orders on retraces and the other using stop orders on break outs. I remember limit orders performed better. You can test them. Source code is provided if coders like to drop in. I am off to a 1-week trip, so might not be able to assist during this time. {file} {file}
Alright, Thank you so much I'll check it, maybe I missed this version from this thread By the way, have a safe trip Khalil
Regards
  • #294
  • Sep 29, 2016 1:09pm Sep 29, 2016 1:09pm
Quoting Hirangan
{quote} Alright, Thank you so much I'll check it, maybe I missed this version from this thread By the way, have a safe trip Khalil

Thanks. Actually these 2 files were not posted in the thread. They were only experimental and not complete. I checked both and found they were different from what you've suggested. So maybe we can try you suggestion when I am back.
No guts, no glory
  • #295
  • Sep 29, 2016 2:32pm Sep 29, 2016 2:32pm
Quoting abokwaik
This is a very simple idea for Auto-Trading (using Expert Advisor) My idea is to follow the big candle. Open a trade in the direction of the big candle. Big Candle is identified as follows: The size of candle (from Low to High) is greater than ATR(atr_period) x ATR_Multiplier So for example, for GBP/USD, H4, suppose ATR(21) was 30 pips, and we set ATR_Multiplier to 2.5, so we are looking for H4 candles with range > 2.5 * 30 = 75 pips. So If High-Low of current H4 candle reaches 75 we go long if candle is up, and we go short if candle is down. (There...
I really don't have words to praise you for your intelligence, creativity and the way you make time for the traders community. Really you are a gift to all we people out here. Peace. Happy Trading...
Regards...
  • #296
  • Sep 29, 2016 8:55pm Sep 29, 2016 8:55pm
Quoting abokwaik
{quote} Thanks. Actually these 2 files were not posted in the thread. They were only experimental and not complete. I checked both and found they were different from what you've suggested. So maybe we can try you suggestion when I am back.
It's Ok Khalil, absolutly no problem, you can do it whenever you have free time only.

Thanks.
Regards
  • #297
  • Sep 29, 2016 9:10pm Sep 29, 2016 9:10pm
Quoting abokwaik
This is a very simple idea for Auto-Trading (using Expert Advisor) My idea is to follow the big candle. Open a trade in the direction of the big candle. Big Candle is identified as follows: The size of candle (from Low to High) is greater than ATR(atr_period) x ATR_Multiplier So for example, for GBP/USD, H4, suppose ATR(21) was 30 pips, and we set ATR_Multiplier to 2.5, so we are looking for H4 candles with range > 2.5 * 30 = 75 pips. So If High-Low of current H4 candle reaches 75 we go long if candle is up, and we go short if candle is down. (There...

Man! you have another thread.. I just started with your Cross Trader today ... at the moment at page 38 reading... I wanted to setup trade explorer and test it on demo
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #298
  • Sep 30, 2016 1:12am Sep 30, 2016 1:12am
Quoting v2vboni
{quote} Man! you have another thread.. I just started with your Cross Trader today ... at the moment at page 38 reading... I wanted to setup trade explorer and test it on demo
Actually this thread was my first on FF. Good reading with CT, there'll be always room for improvements. I am glad you came back v2vboni.
No guts, no glory
  • #299
  • Oct 1, 2016 1:22am Oct 1, 2016 1:22am
This is interesting... And it doesn't hedge, correct? Look forward to testing your new idea's through the new year.
  • #300
  • Oct 2, 2016 6:30am Oct 2, 2016 6:30am
if market made big bull or bear candle then open trade against because market always do retractment.
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