PowerX Strategy "PowerZ"

[Don_xyZ]

There is not really a big difference between plotting an MA using the O, H, L, or C, but I think that I prefer the low over the other options;
I think that it is more in line with the idea that markets are slow to rise but fast to fall.

As a general rule, I don't use anything that I wouldn't plot by hand.

21 period MA of the low:
on_the_lo_lo.png

So true.
Most of my biggest R trades happen during market fall.
When fear strikes, nothing can stop it.

[Don_xyZ]

Hey, just a question about "bodies lead the way" that is everyone's favorite statement on here, was there a formula for it?
The reason I am asking is I was looking at the water horse method MO mentioned and for his candles he states :

"First we must define what a bullish and" bearish candle are:
Bullish: closes beyond the mid way-point between the open and the high.
Bearish: closes beyond the mid way-point between the open and the low."

Are they the same thing? as this looks like the bodies lead the way here when I look at a chart with this formula.

Oh jeez, Rick, Water-horse?

I think that you are referring to the thing that eventually became the 'Trend-setter' indicator;

if that is the case, then the close of a Trend-setter candle occurs whenever there are two green or red candle closes in a row;
previous TS close = TS open.

The idea was to remove the up+down and down+up candle pairs to show a clear trend.

There can be no LL while price is above the midpoint of the previous range, and that is why it is/was considered to be bullish.

Couple of years back, when I have no clue about mql coding, I paid a coder to code exactly that.

[IgazI]

Oh Crikey, I never read any of MO's (sword of management) old posts on babypips, where he talks about space, 3xcc and trend-setter.
https://forums.babypips.com/t/trend-set ... r/42228/23

I couldn't be less interested, but you do you

Personally, I use a modified version of Alias' method of stacking.

'Nobody' uses 'MO space', 'nobody' uses 3xCC, and 'nobody' uses trend-setter

[IgazI]

Couple of years back, when I have no clue about mql coding, I paid a coder to code exactly that.

It was an interesting thought experiment anyway.

[IgazI]

21 period of the low is a little unnecessary, but we are keeping it for now.

M30_ADAUSD.png (102.44 KiB) Viewed 695 times

[kiwiarian]

Hey, just a question about "bodies lead the way" that is everyone's favorite statement on here, was there a formula for it?
The reason I am asking is I was looking at the water horse method MO mentioned and for his candles he states :

"First we must define what a bullish and" bearish candle are:
Bullish: closes beyond the mid way-point between the open and the high.
Bearish: closes beyond the mid way-point between the open and the low."

Are they the same thing? as this looks like the bodies lead the way here when I look at a chart with this formula.

Oh jeez, Rick, Water-horse?

I think that you are referring to the thing that eventually became the 'Trend-setter' indicator;

if that is the case, then the close of a Trend-setter candle occurs whenever there are two green or red candle closes in a row;
previous TS close = TS open.

The idea was to remove the up+down and down+up candle pairs to show a clear trend.

There can be no LL while price is above the midpoint of the previous range, and that is why it is/was considered to be bullish.

Couple of years back, when I have no clue about mql coding, I paid a coder to code exactly that.

I hear you Don, nothing like reinventing the wheel
Last night I cobbled together something rough(im not an MT4 coder) to just show the candles that met the criteria of over 50%, ie strong candles. Not the patterns as still trying to decipher Down Up Down is Bearish or Down Down Up is Bearish etc Suspect this may be in your patten playbook?
I could see there are benefits in coding something up yourself as you start to think about adding things such as adding an option to make the criteria 75% for extra strong candles, adding a 19 EMA, coding in the patterns or looking for new ones and I guess you could add in some Stats as well.

waterhorse1.jpg (77.31 KiB) Viewed 690 times

[kiwiarian]

21 period of the low is a little unnecessary, but we are keeping it for now.

M30_ADAUSD.png

I'm trying the 19 EMA low on some charts, I think I prefer it over hL/2

[Don_xyZ]

Oh jeez, Rick, Water-horse?

I think that you are referring to the thing that eventually became the 'Trend-setter' indicator;

if that is the case, then the close of a Trend-setter candle occurs whenever there are two green or red candle closes in a row;
previous TS close = TS open.

The idea was to remove the up+down and down+up candle pairs to show a clear trend.

There can be no LL while price is above the midpoint of the previous range, and that is why it is/was considered to be bullish.

Couple of years back, when I have no clue about mql coding, I paid a coder to code exactly that.

I hear you Don, nothing like reinventing the wheel
Last night I cobbled together something rough(im not an MT4 coder) to just show the candles that met the criteria of over 50%, ie strong candles. Not the patterns as still trying to decipher Down Up Down is Bearish or Down Down Up is Bearish etc Suspect this may be in your patten playbook?
I could see there are benefits in coding something up yourself as you start to think about adding things such as adding an option to make the criteria 75% for extra strong candles, adding a 19 EMA, coding in the patterns or looking for new ones and I guess you could add in some Stats as well.waterhorse1.jpg

True. Imagine paying people to code or even just to modify something in the code

The fastest hint you'll ever see if there is a potential for the price to continue its direction is when the latest candle closed without touching the 50% level of the previous candle. If it coincides with IB then it's even better. The completion is usually the Sandwich pattern. Just beware of where it happens in the grand scale.

[kiwiarian]

Couple of years back, when I have no clue about mql coding, I paid a coder to code exactly that.

I hear you Don, nothing like reinventing the wheel
Last night I cobbled together something rough(im not an MT4 coder) to just show the candles that met the criteria of over 50%, ie strong candles. Not the patterns as still trying to decipher Down Up Down is Bearish or Down Down Up is Bearish etc Suspect this may be in your patten playbook?
I could see there are benefits in coding something up yourself as you start to think about adding things such as adding an option to make the criteria 75% for extra strong candles, adding a 19 EMA, coding in the patterns or looking for new ones and I guess you could add in some Stats as well.waterhorse1.jpg

True. Imagine paying people to code or even just to modify something in the code

The fastest hint you'll ever see if there is a potential for the price to continue its direction is when the latest candle closed without touching the 50% level of the previous candle. If it coincides with IB then it's even better. The completion is usually the Sandwich pattern. Just beware of where it happens in the grand scale.

I'm sure those people you paid are not in your position now though !!
Good tips thanks, those would be nice additions to add. The Sandwich pattern is a new one on me, will check it out to see how it works.

[Don_xyZ]

I hear you Don, nothing like reinventing the wheel
Last night I cobbled together something rough(im not an MT4 coder) to just show the candles that met the criteria of over 50%, ie strong candles. Not the patterns as still trying to decipher Down Up Down is Bearish or Down Down Up is Bearish etc Suspect this may be in your patten playbook?
I could see there are benefits in coding something up yourself as you start to think about adding things such as adding an option to make the criteria 75% for extra strong candles, adding a 19 EMA, coding in the patterns or looking for new ones and I guess you could add in some Stats as well.waterhorse1.jpg

True. Imagine paying people to code or even just to modify something in the code

The fastest hint you'll ever see if there is a potential for the price to continue its direction is when the latest candle closed without touching the 50% level of the previous candle. If it coincides with IB then it's even better. The completion is usually the Sandwich pattern. Just beware of where it happens in the grand scale.

I'm sure those people you paid are not in your position now though !!
Good tips thanks, those would be nice additions to add. The Sandwich pattern is a new one on me, will check it out to see how it works.

Sandwich pattern. It's advanced yet simple. The ideal formation is exactly like the sandwich you eat, the meat is smaller than the toast.

sandwich.jpg (5.74 KiB) Viewed 615 times

But the best is the crooked ones (Harami immediately followed by Tsutsumi) like so

Sandwich pattern.png (607 Bytes) Viewed 615 times