Hi I was wondering how you interpret a signal that when zoomed into 1 hour charts the first and last candles closed at roughly the same price? Thanks
[b]@Sandybeach:[/B] I am trading this on a micro account. My broker refers to GBP/JPY on this type of account as GBPJPYm, thus the reference. Change the value to the name that your broker uses for the pair that you want to trade. When you first load the EA this is one of the parameters that you can select, so this is not something that you would need to change in the code.
tx Jawa, just trying too 
I had a little bit of time tonight to work a bit further with the indicator.
I will see if I can build in an email function, I’m just a beginner programmer
I added an extra line of info on the left side upper corner, which says if the four 1 hour candles are an BUY or SELL signal.
It now checks if the 4 closed candles are in een upper or lower direction.
note: this indicator does not show morning star or evening star. Just the pinbars accordingly to the rules of Jawa.
So that’s an option I have yet to write code for One step at a time …
edit: now with email alert function build in, which mails an alert if buy or sell signal has occured.
A PinBar with BUY signal has occured on GBPJPY! Check your charts!
Updated version always to find in post #70
@aserafino: always move up the stops and take profits, ONLY close out positions when there is an opposing signal, i love EUR/NZD and GBP/NZD, they are some of my favorite pairs 
and overall i think they by far have the largest daily pip ranges, the only thing is their spreads are much higher than normal which i dont like for this strategy which relies on many trades compounding on winds and minimizing losses
@renda1234: The only criteria for a pin bar is the long wick has to be atleast 50% of the total candle length, and the body can be no more than a third of the total candle length, it doesnt matter if it has a nose or not :3 And i trade signals even if the closes of the first and last candles only differ by .1 pips, its still a valid signal, of course thats just me and i have also backtested it and find the current method to be the most profitable method possible as far as ive seen, you can trade with the EMA’s if youd like though as its profitability is basicly the same as close to close trading, its just a tad more complex 
@juicypips: In one of my examples before i entered in on a signal which close to close price only differed by .3 pips, our job is to trade like an emotionless robot, if our rule is to enter when the close is higher or lower then we have to enter when it is higher or lower, no hunches or doubts, we already know this system is insanely profitable so we just need to follow it of course you could make it so you dont trade a signal unless it differs from the first close by oh so many pips, but i would prefer not too
p.s. I am still working on finding a way to make this system great for daily charts but i think more than likely i am just going to completely scrap this method for daily trading and make an entirely new system that allows for the affects of news as well as maintaining the overall market sentiment for daily trading
Also I am still working on ways to improve this system so suggestions are very welcome right now I am seeing if relating each individual signal to the current volume or volatility of the market could be a viable filter, so far no good results, I have also been trying to work with imaginary supports and resistances in a much more concrete way that doesnt require any human work for spotting, meaning i dont want us analyzing the data at all, i want this system to be entirely mechanical with our indicators determining entries, we just need to push buttons 
I would like to challenge everyone subscribed to this thread to trade this method in (:P) this upcoming week (5/20 - 5/26), you have seen that it is a profitable system that is easy to apply, and i will be here for anyone with questions whether it is on a real account or a practice account, i’m confident that even those traders who don’t have a lot of experience or are afraid to try something out for themselves can make at least 200 pips this upcoming week if they trade undaunted like a robot Remember, the key is to keep your emotions under control, determine your system and trade it to the letter, before the week starts determine how much you are going to risk per trade, for newer traders i would suggest 2-3%
I think the biggest problem for most people is being able to handle a loss, one thing that will help you out if you start off the week with losing trades (much like i did this past week) is realize that money isn’t made on every trade, money is made over time trading a profitable system like this one, you can be confident that you will have a good week even if you start off badly (this system hasn’t had a losing week in two years), This is a tried and tested system and you cant let your emotions determine the way you are going to trade, if you say you are going to trade this system then trade it to the letter, once you enter a trade be confident! dont exit, i cannot even begin to tell you how many times a trade will go 35 pips in the negative before turning around and hitting our tp
I start trading at 8PM EST Sunday, good luck other traders
Seth Jawa,
First I want to say thank you for sharing and all your work. But I have to say I’m not getting this to work. Could you just post one good example from last week. One 4 hour chart circled and a one hour with the trend line. I’ve been trading FX for a while so I’m not new to forex, but when I back test I’m seeing many trades goes the opposite direction of the one and four one hour bar. I really want this to work but no luck so far.
Part of my problem could be recognizing correct candle to use. How do I learn to see these indecision candles better?
Thanks,
Greg
@Greg Jones: Maybe the confusion is that there is no trendline? i drew lines from the closes of the first candles to the closes of the fourth candles in my examples, so im not exactly sure what the problem might be :\
This was on the AUD/JPY chart last week
As you can see there was about a day that there were no signals and then a pin bar formed, we know it was a pin bar because it met all of our parameters: its long wick was more than 50% of the total candle length, and the body was no more than 1/3 of the total candle length, so now that we know it is a pin bar we zoom in to the one hour chart to see what direction we are going to take
(I was testing something with the EMA’s, i probably should have taken them off first but just ignore them)
As we can see the first candle closed higher than the final candle, this means we sell
EDIT: The process i go through for deciding what trades i am going to make when i get on my computer a couple minutes before candles close:
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Look on all of my charts and see if i have any valid pin bars forming (Pin Bars are candles that have a long wick that takes up atleast 50% of the total length of the candle and a body that takes up no more than 1/3 of the total length of the candle)
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Look on all of my charts and see if i have any valid stars (Stars are a three candle formation that is defined as follows:
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A candle of the current trend in place (bullish or bearish)
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A candle signalling indecision (pin bar, doji, hammer etc.)
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Confirmation of a reversal in price (A candle contrary to the current trend in place)
The final candle in the formation must close atleast halfway down the body of the first candle in the formation.)
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Look on all of my charts and see if i have any valid Inside Bars forming (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))
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After i determing which charts have trades i mark the candles with vertical lines and a text note telling me what type of signal it is, for my pin bars, it is at this time i zoom in to the one hour to see what direction i want to trade in
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As soon as the candles close i enter in all of my trades then set stops and tp’s after
Pin Bars: (Pin Bars are candles that have a long wick that takes up atleast 50% of the total length of the candle and a body that takes up no more than 1/3 of the total length of the candle)
Every time i see a pin bar i zoom into the 4 1 hour candles that make up that one 4 hour candle and see what is going on, and i trade in the direction the price is going, the way i determine where it is most likely price will go is by looking at the closing prices of the first and last candle within the signal, if the closing price of the fourth 1 hour candle in the one 4 hour signal is higher than the close of the first candle, we buy, if it is lower than the close of the first candle, we sell
Morning and evening stars: Stars are a three candle formation that is defined as follows:
- A candle of the current trend in place (bullish or bearish)
- A candle signalling indecision (pin bar, doji, hammer etc.)
- Confirmation of a reversal in price (A candle contrary to the current trend in place)
The final candle in the formation must close atleast halfway down the body of the first candle in the formation.
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)
p.s. i hope these help 
Thank you for info. I have next Q , when we are in downtrend and we get sell signal so we sell, right? Then we get again sell signal so we sell again and move first sl to be and now we have to running orders, right? Then we get buy even a wrong one and we kill bouth sells and jump in long, right? I am not clear withh this, thank you. I love to check this system next week in my ipad.
We enter trades regardless the trend, we go with and counter the trend but yes if we get two sell signals in a row then we should have two sell orders placed, and then if we get a long signal after we already have two sell signals in place, we close out or sells and place one long position, at the most last week I had 7 sells at once and all hit my take profit
Sorry to ask this again but still not sure, if you open a 2nd sell trade for example which will have new sl and tp will the first trades sl and tp remain the same? I was wondering also if you had looked at implementing trailing stops at all to catch big moves? But I guess that with the multiple entry part of your system your gonna catch the big moves as well because of the multiple signals on the way? Hope this makes sense lol thanks for your help sithjawa
You change the stop losses and take profits of all current trades to the new trade being entered, so your stop loss for instance would be 40 pips away from the new trades entry rather than the previous trades entries
Too answer your second question yeah I have, it’s so tempting seeing how many oops could’ve been made if I had used trailing stops last week, so I’ll say this: I created and am still building on this system with the goal of making an extremely simple, insanely profitable, and easy to follow system that anyone can use in any market conditions, with very little human analysis and interference required, and I have achieved that once you take this cookie cutter system and learn its ins and outs, why it works, how it works, and can trade it like a machine, THEN you are ready to start optimizing it
As it is now I don’t want any extra complication but this system can be easily taken to the next level by optimizing it for market conditions, the market is ranging? Get rid of the half tp’s and lower the full tp to 60. The market is trending? Increase tp’s to 80 and manually trail stops by 40 pips. The market has broken out? Eliminate take profits and trail stop by 50, cash out positions at next opposing signal.
As a system I don’t want humans deciding anything, but once you are experienced enough you will be more profitable by slightly changing the system depending on market conditions :3 I hope that all made sense…
Yea that’s a perfect answer, thanks! Really like this system I hope I can make it work for me, like you say it would be a good idea to master this first before changing the system to suit market conditions, but I do really like those additions!
Also hope I haven’t complicated things with my questions and opened the floodgates to questions on optimising the system for market conditions!
In.
I work full time (and long hours) so have set up the best system I can on my mobile. (Oanda won’t let me TP on half so I will set two separate auto TP orders per trade. One for 40pips and one for 70) and will only be able to move SL/TP while assessing the next candle.
Also won’t be able to catch all candles in the day (need my sleep to be effective so will miss 1-2 candles a night probably in the Asian session but that can’t be avoided).
GL everyone.
Hi,
I have oanda live and i did it for half TP taking. So it is not possible? I also have Alpari and IBFX, but none with half TP close. I was reading it somewhere abou Oanda, are you sure it can not be done? THX
I couldn’t find a way to do it, if you work it out (esp on the mobile version) let me know