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A Little Breakout Here and There

  • #141
  • Oct 21, 2016 12:19pm Oct 21, 2016 12:19pm
Quoting JAKammus
I forgot to mention to ignore the settings (MAs) lol. I used that from another indicator I did previously. I did pop arrows all over the place which is why I'm trying to understand how you are filtering the entries.. I put this image below and numbered the trades. Can you please tell me which ones are good or bad entries and why accordingly to method 3 if that is the most profitable one. In addition, I've been working on some filters based in your strategy (which I apparently got it wrong lol). Take a look and let me know what you think. {image}...

Picture 3 is the only one that matches Method 3. It has a bullish candle then 2 bearish candles. The 2nd candle makes the highest high. The 3rd candle closes below the lows of the first two. The basis of this thread is having a 3rd candle close below the highs or lows of the 2 previous bars. Method 2 and 3 combine this using a 3bar swing high or low. Method 3 is a specific pattern in which the bars will be either bullish bearish bearish for shorts or bearish bullish bullish for longs. It is ok if the 2nd bar is an outside bar as well

I've attached my original example pics of Method 3
Attached Images
  • #142
  • Oct 21, 2016 12:58pm Oct 21, 2016 12:58pm
Quoting HarryPlopper
{quote} Picture 3 is the only one that matches Method 3. It has a bullish candle then 2 bearish candles. The 2nd candle makes the highest high. The 3rd candle closes below the lows of the first two. The basis of this thread is having a 3rd candle close below the highs or lows of the 2 previous bars. Method 2 and 3 combine this using a 3bar swing high or low. Method 3 is a specific pattern in which the bars will be either bullish bearish bearish for shorts or bearish bullish bullish for longs. It is ok if the 2nd bar is an outside bar as well ...
So in this version the rules are as follow..
Close 1 < Open 1 --- Bearish Candle
Close 2 > Open 2 --- Bullish Candle
Close 3 > Open 3 --- Bullish Candle

Close 3 > High 1 --- Engolf candle 1&2
High 3 > High 2 --- Ensure pin candle is smaller

Low 2 < Low of previous 10 candles

Is everything correct?
Attached Image
Attached File(s)
File Type: ex4 HarryPlopper_M3_v1.ex4   18 KB | 393 downloads
  • #143
  • Oct 21, 2016 1:35pm Oct 21, 2016 1:35pm
Quoting JAKammus
{quote} So in this version the rules are as follow.. Close 1 < Open 1 --- Bearish Candle Close 2 > Open 2 --- Bullish Candle Close 3 > Open 3 --- Bullish Candle Close 3 > High 1 --- Engolf candle 1&2 High 3 > High 2 --- Ensure pin candle is smaller Low 2 < Low of previous 10 candles Is everything correct? {image} {file}

not sure what you mean by "ensure the pin candle is smaller". "High 3 > High 2" isn't part of the rules. It's all about the Close 3.


Close 3 > High 1, High 2

Low of 2 < Low of 1, Low of 3, not previous 10 candles. the setup is based on a 3bar swing high or low.

also High 2 for the moment is irrelevant. in other words High 2 can be > or < than High 1
  • #144
  • Oct 21, 2016 1:38pm Oct 21, 2016 1:38pm
TooSlow already made an indicator for Method 3, but new versions are always welcome
  • #145
  • Oct 21, 2016 1:46pm Oct 21, 2016 1:46pm
Quoting HarryPlopper
{quote} Picture 3 is the only one that matches Method 3. It has a bullish candle then 2 bearish candles. The 2nd candle makes the highest high. The 3rd candle closes below the lows of the first two. The basis of this thread is having a 3rd candle close below the highs or lows of the 2 previous bars. Method 2 and 3 combine this using a 3bar swing high or low. Method 3 is a specific pattern in which the bars will be either bullish bearish bearish for shorts or bearish bullish bullish for longs. It is ok if the 2nd bar is an outside bar as well ...
RIGHT!!! Lol - this is the version I like and have been testing. Entering on the close of the third bar. We have consensus!!! Having said that, I haven't been paying attention to the part: Low 2 < Low of previous 10 candle and have been simply taking any appearance of the pattern (and how great is that - as it still works!).

How about adding that 5-sma parameter to that and have the pattern pointing at the sma and trade away from it?
  • #146
  • Oct 21, 2016 1:53pm Oct 21, 2016 1:53pm
Quoting JAKammus
{quote} Thank you for the clarification. Do you mind posting some images with examples of your strategy? If I understood correctly, the method is very similar but takes place at key levels. Is that correct?
Hi JAKammus, yes, you are correct. It revolves around price making a higher high/lower low on one bar, which is then tested by the following bar. All you will ever need to understand TooSlow's version of the 1-2-3 trade that I use (different from HP's remember) can be found on his thread here: ''Trading is as simple as 1-2-3''.
  • #147
  • Oct 21, 2016 7:33pm Oct 21, 2016 7:33pm
GBP/CHF 4hr: Method 3 manual backtest to 1st January 2016: 24 wins, 1 loss. The entry bar for all wins closed positive in direction of breakout.

GBP/CHF 1hr Method 3 manual backtest to 10th August 2016: 16 wins, 0 losses, where a win = the entry bar closing positive. (Using an indicator that doesn't look at all bars, seemed to cut out on 10th August.)

I think I will pay a profesional coder to make an EA with options of Method 2 or just Method 3 and hard set take profit input, or exit at close of entry bar.
  • #148
  • Oct 22, 2016 4:42am Oct 22, 2016 4:42am
GJ 1 hour backtest, Method 3 to Jan 1st 2016: approximately 118 trades, 88 wins, 30 losses.
  • #149
  • Oct 22, 2016 6:08am Oct 22, 2016 6:08am
Quoting lemercenaire
{quote} Sorry, HP, that's probably a lot to do with me. Got all excited! Never my intention to hijack your thread and of course, the direction this goes is entirely up to yourself. This is your baby! I do thank you for sending me to the PDF version along the way and I think what I may do is step back a bit and concentrate my testing on that for a bit on my own and let things settle down a bit here for you. I will keep the 5-sma add-on and see if there is something there when tested as-live. Maybe at some stage, the best bits can be pulled together...
I agree Lem, HP is working hard to find his best way to trade his versions. I too have stepped aside lately for fear of polluting his thought process and to allow him to develop his method without my interference/version.

I'm continuing nevertheless quietly in the background, with my own way which I've outlined previously, and it will be interesting to see how/whether HPs method improves on how I do it as time passes.

All the methods including your own btw, are closely related imo, but it was HPs initial concept which caught my eye and prompted me to adjust it to suit my style of trading, so hats off to him for that.

LL
  • #150
  • Oct 22, 2016 2:57pm Oct 22, 2016 2:57pm
Quoting Landline
{quote} I agree Lem, HP is working hard to find his best way to trade his versions. I too have stepped aside lately for fear of polluting his thought process and to allow him to develop his method without my interference/version. I'm continuing nevertheless quietly in the background, with my own way which I've outlined previously, and it will be interesting to see how/whether HPs method improves on how I do it as time passes. All the methods including your own btw, are closely related imo, but it was HPs initial concept which caught my eye and prompted...
Yeah, LL - we all seem to be on the same page on this, so fair do's.

Those results look extremely encouraging HP - going by them, it would certainly seem that version 3 may be the way to go and the H4 tf would be a very attractive ''compromise'' between longer Daily and the lower ones. There is always a market/user-base for methods that work on the H4. Nice one.
  • #151
  • Oct 22, 2016 7:05pm Oct 22, 2016 7:05pm
HarryPlopper,
Here is the indicator kindly provided by TooSlow in post #79.
I removed the following code to allow the indicator to show all setups of your method 3. Bear/Bull/Bull for longs, Bull/Bear/Bear for shorts. (as outlined in your post #45/#76). And enter on bar open.

&& Close[i]<Low[i+1] / && Close[i]>High[i+1]

I also added the following code so that for short setups candle 1 and 3 both have lower highs than candle 2 and vice versa for longs. (Previously candle 3 could have had a higher high than candle 2 for short setups, and vice versa for longs.

&& High[i+2]>High[i+1] / && Low[i+2]<Low[i+1]

The version posted in #79 only showed setups that were followed by a candle that closed in the direction of the trade. So if you planned to enter at the open of the bars with arrows, and exit at the close of the same bar, the indicator appeared to only show winners
But the arrows would only paint after the bar close, so you could only enter on 'bar 5'. The attached version will let you trade 'bar 4' and see all setups in backtesting.

Rgds.
Attached File(s)
File Type: mq4 HarryPlopper.m3.all.mq4   3 KB | 404 downloads
  • #152
  • Oct 23, 2016 4:02am Oct 23, 2016 4:02am
Quoting Spu
HarryPlopper, Here is the indicator kindly provided by TooSlow in post #79. I removed the following code to allow the indicator to show all setups of your method 3. Bear/Bull/Bull for longs, Bull/Bear/Bear for shorts. (as outlined in your post #45/#76). And enter on bar open. && Close<Low[i+1] / && Close>High[i+1] I also added the following code so that for short setups candle 1 and 3 both have lower highs than candle 2 and vice versa for longs. (Previously candle 3 could have had a higher high than candle 2 for short setups, and vice versa...

Thanks very much for this Spu!
  • #153
  • Oct 23, 2016 4:30am Oct 23, 2016 4:30am
Quoting Spu
HarryPlopper, Here is the indicator kindly provided by TooSlow in post #79. I removed the following code to allow the indicator to show all setups of your method 3. Bear/Bull/Bull for longs, Bull/Bear/Bear for shorts. (as outlined in your post #45/#76). And enter on bar open. && Close<Low[i+1] / && Close>High[i+1] I also added the following code so that for short setups candle 1 and 3 both have lower highs than candle 2 and vice versa for longs. (Previously candle 3 could have had a higher high than candle 2 for short setups, and vice versa...
Outstanding!
  • #154
  • Oct 23, 2016 4:56am Oct 23, 2016 4:56am
thanks for the work on the indicator ,but it doesn't show all the method 3 set ups...
  • #155
  • Oct 23, 2016 5:13am Oct 23, 2016 5:13am
Quoting nozzer
thanks for the work on the indicator ,but it doesn't show all the method 3 set ups...
I'm not sure I can fix difficult problems. But can you post a picture of a couple missed setups? Or at least tell us the pair and three days(if on daily tf) that were missed?
  • #156
  • Oct 23, 2016 6:56am Oct 23, 2016 6:56am
here you go...
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd-d1-fxpro-financial-services-2.png Size: 69 KB
  • #157
  • Oct 23, 2016 8:33am Oct 23, 2016 8:33am
Quoting nozzer
here you go...
that's not a method 3 setup which would be bullish bearish bearish with the 3rd bar closing lower than the lows of the other ones
  • #158
  • Oct 23, 2016 8:52am Oct 23, 2016 8:52am
ok harry.sorry for the confusion
  • #159
  • Oct 23, 2016 9:10am Oct 23, 2016 9:10am
Quoting HarryPlopper
GJ 1 hour backtest, Method 3 to Jan 1st 2016: approximately 118 trades, 88 wins, 30 losses.
how many Rs gained from these trades?
  • #160
  • Oct 23, 2016 9:39am Oct 23, 2016 9:39am
Quoting Karemi-Trade
{quote} how many Rs gained from these trades?

I think I was counting a win as being 10 pips in profit and/or waiting for the first bar to close psoitive from entry. cant remember exactly
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