@juicypips: When I (as in ME, i’m not exactly sure about other people now that you mention it…) say 12 o clock candle i mean the candle that opens at 12 (meaning it is 12-4)
As for the EA It takes atleast a basic knowledge of the markets to pick and choose an EA, and most EA’s cost money and require manual inputs so most beginners cant and wont use them, but yes potentially if an EA could be created that was even half as profitable as my manual trading someone could make a very wealthy living off of it in theory
@slipp3ryWhippit: It looks confusing at first but when you are trading the signals one by one it makes sense and comes together i’ll tell you what happened candle by candle starting at the seventh candle from the right
Nothing happened here other then the trade the candle before this hitting its full take profit
As you can see this candle is completely engulfed by candle #1, meaning it is a text book inside bar, sell stop placed at the low of the mother bar, stops and take profits set to the stop order
This was not only an indecision candle signalling a buy but an inside bar, as you can see the pin bar is completely engulfed by candle #2 so we place a sell stop at the low of candle #2 as well as the buy order on the pin bar, place seperate tp’s and sl’s on both
Sell stop triggered, buy trade closed out
Another buy pin bar that is also an inside bar, sell stop placed at the low of the mother bar and a buy order placed, previous sell order from inside bar cancelled
Two sell stops triggered, cancel buy signal and set tp and sl to the lowest inside bar (because it was triggered last)
le random candle
I hope that helped :3
EDIT: i just hired a programmer to make the EA, should be no more then a week as far as adapting this to the daily charts its not going well there are a few fundamental problems with it that i am trying to tweak, i might just end up making a new system
I think I can speak for everyone when I say thanks to you sith your hard work is very much appreciated!
So if a profitable ea is programmed what stops everyone using that ea and making an easy living off it? What would that mean to the markets? And do you think a pa system such as this would stand the test of time as markets change etc? Sorry for going off topic for a sec just wanted to know what you thought
@everyone: I am writing out a list of all the features i want the EA to have, does anyone have any ideas of what they want it to have? I plan on giving the programmer the list within the next couple hours along with all the specifications of the system and etc. He showed me some of his backtests of EA’s he has programmed and i am more then impressed :3
My ideas: obviously it needs all of the things the system uses, half take profits, stop losses, take profits, it has to be able to move up stop losses and take profits, it has to be able to reverse positions, it has to be able to compound positions
The stops and take profits need to be customize-able as well so we can change the inputs, half take profit lines so we can see where the half tp is
Thank you for the answer. Didnt know that the indi marks indecision bars for star formations as well but now I see that the text in the top left corner does say its an indecision bar but theres no Buy or Sell advice. I didnt get an email, but that didnt bother me because i just added the indi yesterday and didnt receive any mails to that point.
@juicypips: It still requires basic knowledge of the markets and system to select appropriate stops and take profits, as well as that they need to be familiar with mt4 and vps, i guess most guys like me who make systems and have them turned into EA’s sell them, so that is what prevents most people from trying them, the money and the chance they will get ripped off
And i have backtested this system over years of time and as far back as ten years just to see, as long as the stops and take profits are adjusted it works in any market, all the time
@juicypips: yes i have and it looks great EXCEPT i dont think it can be programmed into an EA, but for manual trading it might be the answer
using the pip value of ATR (40) as the stop and half tp, and the pip value of ATR (40) x 2 for the take profit, feel free to do your own backtesting to see for yourself
EDIT: what would you want in the EA? email notifications or something? i mean i wouldn’t use them but if you would i’ll get them in there
@jonkie76: i hired a professional EA programmer to automate the system so you and others who have jobs can still profit from this what features would you like in the EA?
Just rereading the first post and it’s not clear how you define the short term momentum for inside bar entry’s, do you use the past 4 4 hour candles to determine direction (the inside bar plus the previous 3?) thanks
@juicypips: Inside Bars: An inside Bar is a two candle formation that includes any non price action action candle (pin bar, doji, hammer etc.) and a second candle that is entirely contained within the previous candle (meaning the wicks of the candle does not surpass the previous candles high or low), I only trade inside bars as a continuation meaning i only trade in the direction of the current market movement, how do i define that?
take the last 3 four hour candles (not including the mother bar)
define the Highest High
define the Lowest Low
define the average price of those two value (like this : Highest Price + Lowest Price / divided by 2)
If the close of the inside bar is higher than the average price, buy!
If the close of the inside bar is lower than the average price, sell!
Basicly, once the formation appears (meaning you have the mother bar and the bar that is being engulfed), you look at the three 4 hour candles immediately before the mother candle, and you mark the highest price and the lowest price, and if the close of the engulfed bar is farther away from the lowest price then the market has moved upward and you place a buy stop at the high of the mother bar, if the close of the engulfed candle is farther away from the highest price then the market has moved downward and you place a sell stop at the low of the mother bar
@juicypips: the way i see it, each mother bar only needs one candle it engulfs to be valid, therefore it is possible to have a valid inside bar within another valid inside bar (insidebarception!!), i trade all inside bars regardless of how many there are
I thought all those inside bars last night would amount to something…
Suggestion for your EA, SithJawa, and thanks in advance for trailblazing this system, it really works!
ok, please see if programmer can have the tradable lots able to be changed in settings as percentage of risk of account with SL of both “halves” of trade.
i’ll tell you what happened candle by candle starting at the seventh candle from the right
there are a few fundamental problems with it that i am trying to tweak, i might just end up making a new system
