Hi Bill, see if this indi can help get that pattern out of your head.
It'll put an arrow on the signal candle(hopefully) if I've interpreted your description right, I'm still getting to grips with coding so no guarantees
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| Author: | whh3st [ Sat Jul 26, 2014 4:35 am ] |
| Post subject: | 4 bars<In |
HI. My name is Bill and I have been a member here for a couple of years or so.I have never posted here before but have returned to this forum on a consistent basis and have spent many hours reading peoples trading strategies. I am grateful to have found such a rich body of knowledge and the people who have contributed to it. I feel I have learnt a lot about myself particularly in relation to money; loss, fear and greed. The learning is ongoing, yet forums like this one have helped me enquire into self rather than others in regards to the above mentioned emotions. My limitations in relation to trading are many and none more so than trade management, coding, indicators, in fact anything that requires maths. However patterns in price action interest me and of course the idea that a person can potentially make money from them. It's not that I prefer PA over indicators, the truth is I don't understand how indicators truly work so I am at a loss to why I would use them. Having said this, I am trying a Bollinger band, as a physical filter. So there is a contradiction to start off with. I am posting this idea in the hope that someone can analyse it(good or bad) and I can move on and get this pattern out of my head. Here goes. Buying- 1st Bar= Up Bar. 2nd Bar= Up Bar. 3rd Bar= Down Bar(Closes over the 2nd Bars' open, or leaves a wick that covers the open of the 2nd Bar yet still paints as a down bar) Caveat for 3rd Bar: If any consequent bar closes below the low of the 3rd Bar, the pattern/ potential signal becomes violated= No trade. Second caveat for 3rd Bar: The 3rd Bar can be but not necessarily consecutive to the two up Bars. Signal Bar(This Bar must close above the 3rd Bars' high)=trade long. |
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| Author: | zader [ Sat Jul 26, 2014 10:05 am ] |
| Post subject: | 4 bars<In |
Hi Bill, see if this indi can help get that pattern out of your head. It'll put an arrow on the signal candle(hopefully) if I've interpreted your description right, I'm still getting to grips with coding so no guarantees |
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| Author: | whh3st [ Sat Jul 26, 2014 10:34 am ] |
| Post subject: | 4 bars<In |
Thankyou Zader.I will give it a try. I meant to post this pic aswell to be more descriptive.... |
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| Author: | whh3st [ Sun Jul 27, 2014 1:40 am ] |
| Post subject: | 4 bars<In |
More examples. This time with a 5 bar reversal or a failed 4 bar move. This occurred in the AUD/USD last week. Sometimes price retraces to the high of bar 3 or 4. |
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| Author: | whh3st [ Tue Jul 29, 2014 3:17 am ] |
| Post subject: | 4 bars<In |
Wait n See.... |
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| Author: | whh3st [ Tue Oct 07, 2014 5:31 am ] |
| Post subject: | 4 bars<In |
Variations..... |
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| Author: | whh3st [ Sat Oct 11, 2014 11:07 pm ] |
| Post subject: | 4 bars<In |
Possible four bar set up on GU/USD daily.Using a trend line. I have taken off the shadow lines for a little more clarity and as a type of filter to see if a four bar signal is a more reliable signal when the bodies of the candles present with the signal only. |
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| Author: | whh3st [ Sat Oct 11, 2014 11:11 pm ] |
| Post subject: | 4 bars<In |
Here is the same pair dropping down to H4.A 4 bar extended pattern has occurred, before it has crossed over the trend line.A wait and see if it works out or not. |
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| Author: | whh3st [ Fri Dec 12, 2014 6:34 am ] |
| Post subject: | 4 bars<In |
Another variation.With average price bars and no indicators. |
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| Author: | whh3st [ Wed Feb 04, 2015 2:09 am ] |
| Post subject: | 4 bars<In |
Here is an revised 4 bar strategy augmented to a 5 bar strategy utilising average price bar indicator and candlesticks combined. 1 and 2 must be green and blue,3 and 4 must be down bars, where the body of either price bars 3 or 4 cross over the average price bar bodies of 1 and 2(red line).The 5th bar must close above the open of the 4th bar and close of the third bar thereby closing as a green bar. Here I got in late (possibly too excited) as the 5th bar coincided with Nanningbobs' big green arrow  Does this price bar pattern go against me ? Sometimes it does....looking forward to seeing how this pans out though with a big green arrow. |
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