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Counter Layout
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Author:  mieloo [ Thu Jan 12, 2012 6:28 pm ]
Post subject:  Counter Layout
hi guys,

this a simple and powerful pattern. I'm watching it and trading it (sometimes... because i'm human) for more then 7 months. imho the logic that makes this PA is perfect, even if sometimes the XA move tends to be dominant and SL is hit.
if someone can help with the development of an indi or even an ea i'm sure that this will be a bonus to any trading arsenal.

thank you.
Author:  mydone [ Thu Jan 12, 2012 7:23 pm ]
Post subject:  Re: Counter Layout
mieloo wrote:hi guys,

this a simple and powerful pattern. I'm watching it and trading it (sometimes... because i'm human) for more then 7 months. imho the logic that makes this PA is perfect, even if sometimes the XA move tends to be dominant and SL is hit.
if someone can help with the development of an indi or even an ea i'm sure that this will be a bonus to any trading arsenal.

thank you.

:roll: Guys please please make an indi - with a confirmation it's a money making machine. really, i've tried today
Author:  mydone [ Thu Jan 12, 2012 8:07 pm ]
Post subject:  Re: Counter Layout
Guys dear guys, maybe you can make a good mw pattern finder also? we'll become rich very quikly, just a normal mw pattern on zigzag, but with a vertical line and counting candles after last swing.
Author:  youcrazykids [ Thu Jan 12, 2012 9:35 pm ]
Post subject:  Re: Counter Layout
Let me see if I can write some code which will firstly detect the formations you described. I'll begin testing when the London session begins tomorrow morning and will provide an update then.

Hope it succeeds!

youcrazykids
Author:  Gamma_gallus [ Thu Jan 12, 2012 10:04 pm ]
Post subject:  Re: Counter Layout
There's this indi on FF, are you talking about the same thing ?

http://www.forexfactory.com/showthread.php?t=326305

Then, you also have an EA from forex tsd
http://www.forex-tsd.com/expert-advisor ... post419653
here attached the files. I never had time to test it, so no clue how it behaves.

Gamma
Author:  mydone [ Thu Jan 12, 2012 11:29 pm ]
Post subject:  Re: Counter Layout
Gamma_gallus wrote:There's this indi on FF, are you talking about the same thing ?

http://www.forexfactory.com/showthread.php?t=326305

Then, you also have an EA from forex tsd
http://www.forex-tsd.com/expert-advisor ... post419653
here attached the files. I never had time to test it, so no clue how it behaves.

Gamma

No - i was talking about MW Pattern
Author:  mydone [ Thu Jan 12, 2012 11:50 pm ]
Post subject:  Re: Counter Layout
Some funny info about this pattern. In my experience it's almost 100% working if goes with confirmation. But we really need an indi with a horizontal line to catch enough signals and make trading stress free;) so http://www.babypips.com/school/doubles.html
Author:  mobthehop [ Fri Jan 13, 2012 1:42 am ]
Post subject:  Re: Counter Layout
I think you need to read through this thread on FF

http://www.forexfactory.com/showthread.php?t=242404
Author:  mieloo [ Fri Jan 13, 2012 7:03 am ]
Post subject:  Re: Counter Layout
hi
i don't know if this is a money making machine, but it sure is a working pattern.
please have in mind that the pattern is very specific, must respect the rules.
M5 , EURUSD, 5-9 candels, C>A, XA> 30 pips etc... so i don't see it in every M or W.

yesterday we had two close to the rules patterns:

first pattern didn't respect the rules because C>A with 4 pips. it failed. the PA was not perfect as on the 4th candle some sellers were in a hurry, and the overall force of the move was diminished.

second had C=A but the PA forming the pattern was perfect. the only bad thing was the hour... to late.. low volatility.

sometime works even if the difference from C to A is 4 or 5 pips or C=A, but i like it more when we have an overtake... the price going one pip over fractal A usually determine two reactions :
1.if you are already in a trade on the XA move, it is very possible to move your SL under B as B is the last fractal and the price just overtook the last high A
2. it is always a good signal for lots of buyers/sellers that want to jump in direction of XA, the logical SL placement being the same point B

so if you want to do the opposite and take some stops, leave the fish open trade and then charge with power in the other direction passing point B. Help by the hit of the stops you should obtain the R 1:1
Author:  youcrazykids [ Fri Jan 13, 2012 5:58 pm ]
Post subject:  Re: Counter Layout
Hi Meiloo

I've written a detection routine for the XABC formations you described, using the rules you outlined.
I spent time today refining the code - here's a screenshot of what I've seen today from 06:00 to 17:00 GMT (ignore the trade lines on the chart).

Green letters indicate points of a possible/emerging XABC formation, with a view to trading LONG.
Red letters indicate points of a possible/emerging XABC formation, with a view to trading SHORT.

I think the best formations that appeared so far were LONG XAB (not the full XABC) at 07:30 and 10:20, and SHORT XAB at 15:20.

Can you confirm whether or not you saw any C points today? If I relax the detection rules, they start appearing, but not otherwise. Please take a look, and tell me if this looks like a good start, or if more refinement is needed.
Patterns.jpg
Thanks

youcrazykids
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