DislikedI will keep everyone posted on my results with this system. BTW, I am using FXCM, and my daily candles close at 5PM EST, which I believe is 10PM GMT.Ignored
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DislikedI will keep everyone posted on my results with this system. BTW, I am using FXCM, and my daily candles close at 5PM EST, which I believe is 10PM GMT.Ignored
DislikedI meant that the last candle - which is technically your signal candle - must have a body that is greater than the body of the previous 2 candles. And you trade at the open of the next day candle after the completion of that signal candle. I hope I explained it better. Look at the last chart I postedIgnored
QuoteDislikedFor going long:
1- Body of the latest Daily candle is greater than body of the previous 2 daily candles
2- Previous daily candle must be bearish
3- Close of latest candle is more than close of the previous candle
4- Take profit for next candle at the psychological levels: 50 & 00
For going short:
1- Body of the latest Daily candle is greater than body of the previous 2 daily candles
2- Previous daily candle must be bullish
3- Close of latest candle is less than close of the previous candle
4- Take profit for next candle at the...
Dislikedwhen you say 'greater than the body of the last 2 candles', do you mean the total length of the 2 candles added together, i.e. the signal candle must be greater than the total length, or just the length of each one ?
thanksIgnored
DislikedOK - this all sounds pretty clear until you start parsing the words. Lastest, Previous, Next are pretty clear. When looking at post 59, you identify 2 clear trades, but they are surrounded by losing trades. I must miss the essence of your instructions.
I have written a prospect identifier and tester with results posted for total Buy pips, Sell Pips, Win count and Loss count....Ignored
DislikedOK - this all sounds pretty clear until you start parsing the words. Lastest, Previous, Next are pretty clear. When looking at post 59, you identify 2 clear trades, but they are surrounded by losing trades. I must miss the essence of your instructions.
I have written a prospect identifier and tester with results posted for total Buy pips, Sell Pips, Win count and Loss count....Ignored
DislikedI meant greater than the body of each one of the previous 2 candlesIgnored
DislikedI have finished a scanner indicator ...
Install it as indicator and run on one screen on time frame of your choice.
It will scann ALL low spread pairs on every new bar .. so if u install it on M15 charts it will scan every 15 minutes. If you change TF it will scan immediately and then every new bar in the new TF ... like H1 ... then it will scan once per hour ..
I ignores the incompleted/last bar completely.
Please remember it scans for the BODY of the candle to be inside the previous bar.
I am also attaching a scanner for...Ignored
Dislikedcould you tell me which pair it works best with ? does it also work on stocks and the dow ?
also, when do we close out the trade ? what if the trade reverses hits stop before moving in the right direction ?
i back tested it on one of the pairs yesterday, there are a lot of false signals. i found 4 false and 1 correct signal ! anyway, maybe i chose the incorrect pair ?
lastly, to go long, the previous candle to the signal candle must be bearish right ? but what if the signal candle is also bearish but opens higher and closes higher. is...Ignored
DislikedI love simplicity yet profitable method like this.
Thank you for sharing...
How many of you are currently profiting using this technique.
May I have "a show of hand"??Ignored