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There are no secret patterns and there will never be one 381 replies

Nice Little Trade here on EUR/USD 1 reply

Little Confused here !!!!! 7 replies

Looking for a little advise here 5 replies

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A Little Breakout Here and There

  • #81
  • Oct 17, 2016 9:54pm Oct 17, 2016 9:54pm
Quoting TooSlow
{quote} {image} Follows the logic you provided.
I don't see how, ie "Longs: If the current bar's close is higher than the highs of the previous 2 bars,".

Looking at the blue dot highlighted bars on you chart, very few of them close above the extreme high of the two previous bars.

Edit: referring to your second last chart. I see you have kindly reworked the indi.
Good Trading
  • #82
  • Oct 17, 2016 9:59pm Oct 17, 2016 9:59pm
Quoting TooSlow
{quote} {image} if( Close[i+3]>Open[i+3] && Close[i+2]<Open[i+2] && High[i+2]>High[i+3] && Close[i+1]<Low[i+3] && Close[i+1]<Low[i+2] && Close[i]<Low[i+1] ) { Dn_Arrow[i]=High[i]+5*Point; } if( Close[i+3]<Open[i+3] && Close[i+2]>Open[i+2] && Low[i+2]<Low[i+3] && Close[i+1]>High[i+3] && Close[i+1]>High[i+2] && Close[i]>High[i+1] ) { Up_Arrow[i]=Low[i]-5*Point; } {file}

fantastic! I think we're finally getting somewhere! Is there a way to make it look back x number of bars and indicate every setup? Also able to specify x distance arrow is away from the bar?

Gotta go to work now...
  • #83
  • Oct 17, 2016 10:04pm Oct 17, 2016 10:04pm
Quoting HarryPlopper
{quote} fantastic! I think we're finally getting somewhere! Is there a way to make it look back x number of bars and indicate every setup? Also able to specify x distance arrow is away from the bar? Gotta go to work now...
Is there a way to make it look back x number of bars and indicate every setup?

It already does.

Also able to specify x distance arrow is away from the bar?

Will have to add an input.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #84
  • Oct 17, 2016 10:06pm Oct 17, 2016 10:06pm
Ok, for those new to this thread, welcome!

To avoid any confusion, I have presented 3 trade ides here.

Method 1 is presented in the first few posts of the thread and involves a close being higher (lower) than the highs (lows) of the previous 2 bars. Buy upon a break of the last candle.

Method 2 involved the sismilar logic regarding close price, however we're trading on a break of a 3 bar reversal. The 2nd bar makes a higher high (low) then the 2 bars on either side. The 3rd bar closes below the lows of the first 2 bars. Enter at open of the next bar. Reverse this for longs.

Method 3 is a variation of the 2nd method. It is more specific in that the pattern is either bearish bullish bullish OR bullish bearish bearish.
  • #85
  • Oct 17, 2016 10:10pm Oct 17, 2016 10:10pm
Quoting TooSlow
{quote} Is there a way to make it look back x number of bars and indicate every setup? It already does. Also able to specify x distance arrow is away from the bar? Will have to add an input.
I think it's ignoring some outside bars. It's OK if the 2nd bar that makes the lowest low or highest high is an outside bar, as long as bar 3 closes beyond it. It's also skipping some trades that are valid according to the rules.
  • #86
  • Oct 17, 2016 10:16pm Oct 17, 2016 10:16pm
Quoting HarryPlopper
{quote} I think it's ignoring some outside bars. It's OK if the 2nd bar that makes the lowest low or highest high is an outside bar, as long as bar 3 closes beyond it. It's also skipping some trades that are valid according to the rules.
The code follows your logic.
Unless there is a coding error.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #87
  • Oct 18, 2016 2:43am Oct 18, 2016 2:43am
Quoting lemercenaire
OK then...EURCAD has a set-up coming for tomorrow. Long on open of next bar. {image}
EURCAD The Law-of-Sod of course, gives a loss. It was a pretty distorted pattern, blah, blah, blah - but hey, moving on...

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADDailydidntworklawofsod.png Size: 43 KB
  • #88
  • Oct 18, 2016 2:46am Oct 18, 2016 2:46am
Quoting HarryPlopper
{quote} I'm more after what's in the pics. longs: bearish, bullish (with lowest low of 3 bars, high can be higher or lower than high of 1st bar) followed by a bullish bar whose close is higher than the last 2 highs. or for shorts, bullish, bearish (highest high of 3 bars, with low being higher or lower than low of 1st bar) followed by a bearish bar whose close is lower than the last 2 lows. {image} {image} {image} {image}
TS - It's a 1-2-3 pattern (with highs only relative to each other) but entering on the close of the 3rd bar, not the open.
  • #89
  • Oct 18, 2016 2:50am Oct 18, 2016 2:50am
Quoting HarryPlopper
{quote} Oops, I see where I stuffed up. Thanks for coding for the intital strategy! Riht now I'm specifically after an indicator for a variation of this breakout.
This variant definitely seems to be the most robust.
  • #90
  • Oct 18, 2016 5:09am Oct 18, 2016 5:09am
as a newbie I see the sense in this system,you are trying to catch the 'v' and '^' of the movement of the market,thanks a lot everyone ! :]
  • #91
  • Oct 18, 2016 5:27am Oct 18, 2016 5:27am
Quoting nozzer
as a newbie I see the sense in this system,you are trying to catch the 'v' and '^' of the movement of the market,thanks a lot everyone ! :]
Yes. Think of the pattern as arrows - trade away from the point.
  • #92
  • Oct 18, 2016 5:34am Oct 18, 2016 5:34am
@lemercenaire,what is your advice for TP? wait for a opposite candle to stop you out?
  • #93
  • Oct 18, 2016 6:13am Oct 18, 2016 6:13am
I always think that stops and tps are an individuals choice, depending on a number of factors....risk tolerance, size of acc, number of positions, t/f traded, patience level, and general confidence in the analysis to name but a few. Everyone is different and as such will see the market quite differently, so whilst I may post a trade with my entries, stops and targets shown, it certainly doesn't mean it will be suitable for everyone for the kind of reasons I've mentioned.

An EG h4 example trade of mine is attached, based on my version of HPs theme as I've previously described before, and has been further tuned to my liking.

As I've stated before, there are numerous ways to trade HPs method I believe, and it becomes more or less a question of what an individual finds the easiest to profit from, and as in my case, it does not strictly follow HPs rules, but it does follow the theme.

LL

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH4.png Size: 14 KB
  • #94
  • Oct 18, 2016 10:21am Oct 18, 2016 10:21am
Hi TooSlow, again thanks so much for the indicator! Just used it for backtesting on GJ 4hr chart. The earliest signal was from November last year. No signals appeared prior to that.

I did notice a couple of strange things. In the pic with the blue shaded areas, the first one is using the low of the 3rd bar, not the middle bar. The next shaded box shows a clear signal but the indicator didn't place an arrow.

On the other unshaded pic, the down arrow was placed but the 3rd bar is making the highest high, not the middle of the 3.

All in all though, I checked every signal that it did place, on GJ 4hr timeframe, until November last year when it gave out AND it had 25 trades, all winners, all went up at least 30 pips!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: test 2 gj.JPG Size: 28 KB
Click to Enlarge Name: test gj.JPG Size: 50 KB
  • #95
  • Oct 18, 2016 10:43am Oct 18, 2016 10:43am
Quoting HarryPlopper
Hi TooSlow, again thanks so much for the indicator! Just used it for backtesting on GJ 4hr chart. The earliest signal was from November last year. No signals appeared prior to that. I did notice a couple of strange things. In the pic with the blue shaded areas, the first one is using the low of the 3rd bar, not the middle bar. The next shaded box shows a clear signal but the indicator didn't place an arrow. On the other unshaded pic, the down arrow was placed but the 3rd bar is making the highest high, not the...

for(int i=0;i<limit;i++)
{
if(
Close[i+3]>Open[i+3] &&
Close[i+2]<Open[i+2] &&
High[i+2]>High[i+3] &&
Close[i+1]<Low[i+3] &&
Close[i+1]<Low[i+2] &&
Close[i]<Low[i+1]
)
{
Dn_Arrow[i]=High[i]+5*Point;
}
if(
Close[i+3]<Open[i+3] &&
Close[i+2]>Open[i+2] &&
Low[i+2]<Low[i+3] && // LOW OF BAR 2 LESS THAN LOW OF BAR 3
Close[i+1]>High[i+3] &&
Close[i+1]>High[i+2] &&
Close[i]>High[i+1]
)
{
Up_Arrow[i]=Low[i]-5*Point;
}
}
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #96
  • Oct 18, 2016 11:31am Oct 18, 2016 11:31am
Quoting nozzer
@lemercenaire,what is your advice for TP? wait for a opposite candle to stop you out?
Million dollar question. So far, I have been looking for the pattern and not thinking too much about the practicalities of actually trading it. That PDF was originally looking at a TP of +10pips. Now on the Daily tf, you are hard-pressed not to be able to get that at some point no matter where you enter from - if you are prepared to counter-trade. My initial gut is to go for the +10 and move stop/close half, whatever and have a free trade either on the whole position or on half, with half-bagged.

That's not so much of the issue but as you suggest, the sl. Again going on gut and a bit more experience counter-trading candle/wick/box-breakouts recently than I previously had, I would be more likely to counter-trade than let it go all the way to the other end of the box - that's just horrible r:r.

As I said though, until I start running it live, or at least ''as-live'', it's only theory. I'll let you know, don't worry.
  • #97
  • Oct 18, 2016 11:40am Oct 18, 2016 11:40am
GU 4hr: 20 wins, 1 loss, last signal 3rd December 2015

EU: 4hr around 15 wins, 1 loss (ignored a few of the setups), last signal 25th Nov 2015

Defining a win as being the entry bar moving in positive direction by at least 10 pips. Losses occurred when entry was on first bar of new week that gapped

This is becoming really promising!
  • #98
  • Oct 18, 2016 11:53am Oct 18, 2016 11:53am
EJ 4hr: 23 wins, 1 loss, last signal 26th Nov 2015
  • #99
  • Oct 18, 2016 11:57am Oct 18, 2016 11:57am
Quoting HarryPlopper
GU 4hr: 20 wins, 1 loss, last signal 3rd December 2015 EU: 4hr around 15 wins, 1 loss (ignored a few of the setups), last signal 25th Nov 2015 Defining a win as being the entry bar moving in positive direction by at least 10 pips. Losses occurred when entry was on first bar of new week that gapped This is becoming really promising!
Away from the Daily, I had a quick look at your H4 and only on Cable so far - boom! OK, not too shabby, either, lol.

More trades, obviously and not so worrisome on the sl front.

One thing I think I have noticed - as I said, a quick look, so only think I have noticed - is that I don't really think it matters the structure that makes up the pattern. You were liking, Bull, Bear, Bear and Bear, Bull, Bull...but so far as I can see, Bull, Bull, Bear and Bear, Bear, Bull work just as well.

The only possible fly in the ointment would possibly be if they alternate in sequence, ie Bull, Bear, Bull or Bear, Bull, Bear. Those two combos look a little less robust...but even then, only a little.
  • #100
  • Oct 18, 2016 12:09pm Oct 18, 2016 12:09pm
AUDUSD H4 as sitting on my screen just now - quick visual 8 win, 2 loss since 7th Oct. Losses were tiny and wins included two big multiple bar runs.
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