@juicypips: it should be the highlighted candle and the three candles after it once you zoom in although trade interceptor might have changed since I last used it :3 but it doesn’t matter much because when you are live trading and a 4 hour signal closes when you zoom in to the 1 hour it will be the past 4 closed candles you look at
@jawa: for pinbars, are you placing your sl and 1st tp 40 pips from your entry (market price at the time you placed the trade) or for the close price of the signal 4H candle?
@Jonkie76: received multiple signals today for inside bar and pinbar on the same 4hr candle… should we be receiving two signals at once?
@jawa: is this star formation for sell, i entered, but i am not sure
@everyone: i’m creating candle picture about the signals (i’m a visual learner).
Here’s the first one… Pin Bar
@jawa:
currently testing this EA to manage the sl, breakeven, 1st and 2nd tp… so far its working okay.
less options then some of the others but does everything your system needs.
just to note, if your broker is 5 digits, then in the EA add an extra zero to the sl, tp’s you enter. eg 40 = 400
@Jonkie76: Hi, is your indicator sending emails all the time or only on close, i find it strange that signals are generated during candle. And is it possible to include history? I know it is hard work, just want to help, I am about to write some managing ea, which will run on server in MT4 a will set tp and sl after i enter on Ipad and manage the trades when i enter again in same way. Take care.
smacko…but this ea canot set TP and SL for older order into same values as the one you are about to enter (same way and the first one could be even in BE)? It is the only problem i am dealing with.
@renda1234: Jonkie76’s indicator emails signals after candle close. however from my experience if you change the timeframe (from 4hr to 1hr to 4hr) or if you load the indicator for the first time, if the last candle was a signal, you’ll get an email.
there are managing ea around, try the one in the link i posted above.
@Jonkie76: Your indicator is great. It will be perfect if you can get the morning star signal in there also!!
@smacko: I am surprised no one has asked that yet i place my stop losses and take profits by the close price f the signal candle, not at the exact point i enter
Also it is possible to get a pin bar and inside bar at once, double the trades
and wow, great visuals, very clear i look forward to testing the ea more extensively
@renda1234: Normally I wouldnt have sold that because even though price started at a higher point then when it close last week all the price over the weekend is unaccounted for, so for all we know it was a hundred pips higher than the weeks open price before dropping to that point which would be a pretty exhausted bearish move, so its not the highest probability setup so i dont take start of the week formations unless all the candles are consecutive, although i see it worked out
I will look in to that, which candle is the one you’r talking about? timestamp?
@smaco TX very much, I’m trying that right now, but that needs a more different approach of programming as I did in this indicator. But it is not impossible.
And indeed, the progeamm runs only on the close of the 4 hour candle, or as Smacko says, if you change somting on your chart like switching to other timeframes and back. Because the indicator will reload and run again.
@Jawa, when you place an order on the motherbar of an inside bar formation, do you close your open positions immediately if the signal is an opposing one? Or do you close the position as soon as the order gets triggered?
none of the standard management EA will handle that, because they work off pips from entry. will need a custom ea, that measures the pips from the last candle close.
maybe someone can edit the EA i posted above…
@Jonkie76: Jawa confirmed your indicator is working fine, pinbar and inside signals can trigger at the same time.
It would be great if your indicator could print arrows when the email is sent, as it’s nice to see any signal i didn’t end up taking on the chart and also to know that my email didn’t miss anything.
@jonkie76: i place the pending order then close out opposing positions when it gets hit
here are some of the trades i made from my phone
You’ll notice four trades, two are evening star trades, one inside bar trade, and one pin bar trade, all sells the first evening star wasnt in fact valid however im not in the country and was doing something so i didnt take the time to realize the last candle in the formation didnt close halfway down the first candle, by the time i realized it i had already placed the trade and i have a rule that i never back out of a trade once ive entered (a way to make me be confident in my trades)
@jawa: another question with the sl and tp’s. do you factor in spread? is it 40pips plus spread?
@smacko: only for sell trades because of the way ask and bid prices work, I want my stops to be hit exactly 40 pips from the close, and same for my tp’s :3
@Jawa: thanks! can you please summarize how you deal with your trades when more signals trigger. Eg if your negative in a trade and get an opposing signal, do you close out the neg trade and place the new one. Eg if your in a trade and get another signal in the same direction, you move the sl and tp to match the new trade but doing that may change the risk % or cause an easier sl hit for the first trade.
@smacko: This has been answered a few times in this thread - mainly in post #1
I believe you are correct though - opposing signals (if they pass the filter - see post 1) means close and open in opposite direction. If a signal in same direction then open a new trade and move first trades sl and tp to the second trades tp and sl level.
If I check my charts I only see the BID on my screen as the current price. This is also the price that creates your candles.
So I do not look at bid/ask or spread. I just want the curent price, which happens to be the bid, to get to the target I want as I see it OnScreen. So if current pice (bid) is for example 124.400, TP1 is 124.800 and TP2 is 125.100 when I place a BUY position. And if it was a sell, I want the bid to get to TP1 124.000 and TP2 to 123.700.
So I dont give a … about ASK price or spread… Especially not in systems like this where targets are 40 pips away.
@all Just focus on BID, thats all, ASK will automatically be counted for , hehe
@Jonkie: any chance your indicator can state the close time of the signal candle in the email alert? An on screen arrow would be great too.
That’s a possibility. Arrows I am working on right now…
edit: closing price of the signal candle is now added to the screen and emailfunction
@smacko: Even if my first trade is behind at the time of the new signal i still just enter in on the second signal, and move up my stop losses and take profits to that new signal
@jonkie76: look at this thread i commented on, it explains the ask and bid prices a little better
http://forums.babypips.com/newbie-island/44818-stop-loss-brokers.html
even though metatrader works off of bid price during sell trades stop losses and take profits work on ask prices :3
Maybey I didn’t tell it right. I know this thing about ask and bid, but i talk about it as a programmer…think thats the different approach we both take.
If I write a programm, there is 2 ways of position handeling with stoploss and targets. The one you describe, where you give in an stoploss to the position to your broker. The other way is that you dont do that, but just close the position as soon as bid price hits your prdedefined pricevalue.