Hello again Tymen.
Great to see you back. I was a keen reader of your first thread and love to read your candlestick interpretations. All your hard work in preparing this material is appreciated. I look fwd to following along and contributing when I can.
Cheers
Boca
A welcome to [B]Trem [/B]for the first time and welcome back [B]Boca[/B].
Trust you will get much out of this thread and a chance to contribute as well. 
Sorry for the break in my presentation. After dinner, my lovely ginger cat, Sweetie, decided to turn me into a bed and went to sleep on my lap.
Not sure who the sook is here - me or him!! 
[B]And now to look again at that difficult evening star trade with the Advanced level.[/B]
To do so we turn to the 5 minute chart with the Starc bands on it >>>
By tymen1 at 2009-02-25
The chart almost explains itself.
Soon after the completion of the pattern, 2 entries and exits were made.
They are shown in blue and dark red.
[B]The profits are as follows…[/B]
To compare fairly with the Basic/Intermediate levels, the 2 amounts are considered as 2 sets of pip scores.
Follow on and you will understand what I mean.
[U]
The blue trade[/U]
A 2 amount entry at 17, exit at 05 giving 12 pips.
2 amounts = 24 pips.
spread = 2 pips.
Therefore win = 22 pips.
[U]The dark red trade[/U]
A 2 amount entry at 13, exit at 05 giving 8 pips.
2 amounts = 16 pips.
spread = 2 pips.
Therefore win = 14 pips.
[B]Total win = 36 pips.[/B]
This win of 36 pips was got in half and hour.
And that in the most adverse conditions possible - a roaring trend going long.
The message should be clear.
The Advanced level is very powerful and efficient.
But not only this, it is also very forgiving.
It allows you to make rather large blunders and you still end up making a profit.
I commend the [B]ULTIMATE CANDLESTICK TRADING METHOD - 4 Levels[/B] to every reader.
[B]I now summarize the results :[/B]
Basic level A = 44 pips loss
Basic level B = 22 pips loss
Intermediate level A = 10 pips win
Intermediate level B = 10 pips loss
Advanced level = 36 pips win
The time has now come to deal with the Advanced level and the Starc bands in detail and that is how this thread will proceed from hereon.
[B]The Starc bands and their settings[/B]
Previously I had included a program for downloading into your chart studio chart.
This program was called the [U]Extreme_Starc_Bands.[/U]
I have now concluded, after much experimentation, that this starc band version changes direction too quickly and makes it difficult to trade.
The version I have now chosen is the [B][U]original version[/U][/B] that comes with the trading program from your broker.
The Extreme_Starc_Bands are, therefore, [U]deleted[/U].
For those using programs other than Dealbook, the inputs for the[B] original [/B]Starc bands are as follows :
moving average (simple) = 6
ATR = 15
upper and lower bands = 2xATR
Factor = 1
If you need fuorther inputs, the following clip from a source on the internet should help…
[B]STARC Bands[/B]
The STARC bands (Stoller Average Range Channels) developed by Manning Stoller in the late 1980s are based on the true range. This is calculated by taking the largest absolute value of the following three calculations; H-L, H-C or L-C. Then a 15-day average is taken of the true range, which is referred to as the ATR. To determine the STARC+ or the upper STARC band you add 2xATR to a six-period simple moving average (6SMA) and for the STARC- or lower STARC band, you would subtract 2xATR from the (6SMA). Approximately 90 percent of the time prices will stay within the bands. If 3xATR is used instead of 2xATR then almost 100 percent of the price action is contained between the upper and lower bands. Unlike other trading bands based on percentages around a moving average, the same formula and same parameters are used for any market and any time frame. Therefore, they do not have to be adjusted or optimized for a particular market.
Also the Dealbook program for the [B]original[/B] starc bands was stated in an earlier post but is repeated here :
indicator STARC_Bands;
input factor = 1;
draw line_mid(“Mid SB”), line_upper(“Upper SB”), line_lower(“Lower SB”);
vars tmp(series);
begin
line_mid := sma(close, 6);
tmp := factor * mma(truerange(), 15);
line_upper := line_mid + tmp;
line_lower := line_mid - tmp;
end.
[B]
We must deal with one more matter on the settings.[/B]
[B]You will have noticed that on my starc bands (the pink lines), that there are a whole number of lines.[/B]
[U]What are they and how do we set them?[/U] 
There is the upper starc band (thick line)
Mid starc band (thick line)
Lower starc band (thick line).
In between there are 2 thin pink lines.
These thin lines are obtained by entering the Starc band indicator a [U]second time[/U] and setting the factor for this [U]second indicator[/U] to 0.45 instead of 1
So now you have 2 starc band indicators…
1st… factor = 1 with thick lines.
2nd… factor = 0.45 with thin lines.
In the [U]second indicator[/U], you should also make the mid starc line invisible if possible so that it does not overlap the mid starc line of the [U]first [/U][U]indicator [/U] because 2 mid starc bands will make a mess.
[B]We now go on to operations.[/B] - tomorrow!!
Can’t wait for what’s coming Tymen! I can testify myself the effectivness of this method. As you said you can get a trade when for other methods or systems there’s no sign of trading at all. I know I keep saying this over and over again but thank you so much for sharing your time and knowledge with us.
I’m really used to the extreme starc bands and the second extreme starc bands with factor .65. How much better are the original starc bands compared to the old ones?.
Thank you in advance and I hope I can contribute to this thread in some ocassions with my very incipient experience.
REgards!!!
Performed my first Tymen style trade today. I ended up with + 31 pips, but I would like to know if I executed properly.
The setup was on the UJ 1 hour. The 8pm GMT candle was a dark cloud cover. I noticed this at about 9:04.
I switched over to the 5m, and saw that the starc was heading slightly up. I decided to wait until price hit the top starc band. Once it did I entered the trade at 97.64 and put my S/L for the 2 lots at the 8pm Candle High + 3 Pips (97.82).
I setup my T/P on my first lot to 10 pips (97.54). Once this T/P was hit, that lot closed and the other lot’s S/L was moved to 97.54. My full T/p was at 97.40, which I felt was my destination based on the PA.
Sorry I cannot get a screen shot of the 5min Starc, for whatever reason my print screen is not working ,and my trading terminal is remote. But I do have a screen shot with some labels of the H1. (I have no clue why my print screen is not working after the H1 screenshot)
What I want to confirm is my entrance. Starc was up, and I was going short so I entered on the upper band. Now, I did not wait for it to go through and come back, I entered as soon as it hit the band. Is this correct form for the intermediate level?
Looking forward to seeing this thread develop.
Im glad that you noticed that too, Tymen. I thought I might be going crazy.It really was reacting to the market a bit too fast and make it awfully difficult to predict where the best entry would be.
Who would of that that you could react too fast eh? 
Here is the mt4 code for the “double starc”, one indicator with both sets of lines. You can change the colors if you like, but to keep it in the spirit of Tymen, they are pink here. .
//+------------------------------------------------------------------+
//| originally |
//|STARCBands.mq4 |
//| Copyright � 2005, [email protected] |
//| http://www.fxfisherman.com/ |
//| Updated by Husky to have 2 sets of bands for the Tymen Method |
//+------------------------------------------------------------------+
#property copyright "Copyright � 2005, [email protected]"
#property link "http://www.fxfisherman.com/"
#property indicator_chart_window
#property indicator_buffers 8
//---- indicator parameters
extern int MA_Period=6;
extern int ATR_Period=15;
extern double KATR=1;
extern double MKATR =0.45;
extern int Shift=1;
extern color UpperColor=Pink;
extern color MUpperColor=Pink;
extern color MiddleColor=Pink;
extern color MLowerColor=Pink;
extern color LowerColor=Pink;
//---- buffers
double MovingBuffer[];
double UpperBuffer[];
double LowerBuffer[];
double MUpperBuffer[];
double MLowerBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_LINE,0,2,MiddleColor);
SetIndexBuffer(0,MovingBuffer);
SetIndexStyle(1,DRAW_LINE,0,2,UpperColor);
SetIndexBuffer(1,UpperBuffer);
SetIndexStyle(2,DRAW_LINE,0,2,LowerColor);
SetIndexBuffer(2,LowerBuffer);
SetIndexStyle(3,DRAW_LINE,0,1,MUpperColor);
SetIndexBuffer(3,MUpperBuffer);
SetIndexStyle(4,DRAW_LINE,0,1,MLowerColor);
SetIndexBuffer(4,MLowerBuffer);
//----
SetIndexDrawBegin(0,MA_Period+Shift);
SetIndexDrawBegin(1,ATR_Period+Shift);
SetIndexDrawBegin(2,ATR_Period+Shift);
SetIndexDrawBegin(3,ATR_Period+Shift);
SetIndexDrawBegin(4,ATR_Period+Shift);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Bollinger Bands |
//+------------------------------------------------------------------+
int start()
{
int i,k,counted_bars=IndicatorCounted();
//----
if(Bars<=MA_Period) return(0);
//---- initial zero
if(counted_bars<1)
for(i=1;i<=MA_Period;i++)
{
MovingBuffer[Bars-i]=EMPTY_VALUE;
UpperBuffer[Bars-i]=EMPTY_VALUE;
LowerBuffer[Bars-i]=EMPTY_VALUE;
MUpperBuffer[Bars-i]=EMPTY_VALUE;
MLowerBuffer[Bars-i]=EMPTY_VALUE;
}
//----
int limit=Bars-counted_bars;
if(counted_bars>0) limit++;
for(i=0; i<limit; i++)
{
MovingBuffer[i] = iMA(NULL,0,MA_Period,Shift,MODE_EMA,PRICE_CLOSE,i);
UpperBuffer[i] = MovingBuffer[i] + (KATR * iATR(NULL,0,ATR_Period,i+Shift));
LowerBuffer[i] = MovingBuffer[i] - (KATR * iATR(NULL,0,ATR_Period,i+Shift));
MUpperBuffer[i] = MovingBuffer[i] + (MKATR * iATR(NULL,0,ATR_Period,i+Shift));
MLowerBuffer[i] = MovingBuffer[i] - (MKATR * iATR(NULL,0,ATR_Period,i+Shift));
}
//----
return(0);
}
//+----------scorpion@fxfisherman.com--------------------------------+
Oh, one thing I noticed with this indicator. If you make any changes, you will have to compile, remove it from the chart window and re-add it. Most indicators just need a recompile and they will automatically updated on the chart, this one does not.
Oh lastly, make sure to remove the old one from your chart, you do not want the lines conflicting now do you?
Thank you, wrtm_19, for the great advertising of this method!!
I’m really used to the extreme starc bands and the second extreme starc bands with factor .65. How much better are the original starc bands compared to the old ones?.
The original starc is much better and much more stable.
Manning Stoller is a world master trader and certainly knew what he was doing when he set up the starc bands with the original parameters.
Thank you in advance and I hope I can contribute to this thread in some ocassions with my very incipient experience.
I look forward to your contributions with regard to your experience in trading the extreme starc.
I am always looking to improving the candlestick method and any input you give will be taken into account!!
The very best answer I can give here is to watch the next batch of posts where I outline the correct techniques (operations) for entering and exiting the starc bands.
This stuff was not properly covered in last year’s thread so it will be dealt with fully now.
You can then compare and/or revise your own entry/exit technique.
Very important that you use the [B]original [/B]starc bands.
a screen shot with some labels of the H1. (I have no clue why my print screen is not working after the H1 screenshot)
A reboot of your computer to solve?
(means you have to reload everything of course).
Check that your F lock is on/off as required.
If you cannot solve the problem, post a thread.
There is certain to be an expert here who will be able to give the answer.
Welcome back [B]Mastergunner99[/B].
Hope it develops in a way that is pleasing to you!!
Yep, I saw it alright.
I am leaving no stone unturned in an effort to try to improve this candlestick method.
Hopefully this thread is providing a good explanation of the Candlestick trading at a very high level.
There are many more factors affecting candlestick trading. Short term traders versus long term traders all use this information though it is applied a bit differently depending on the investing strategy used.
[B]Wow!![/B]
This is excellent stuff [B]Husky_1[/B]!!
You are rapidly becoming a top contributor to this thread.
I think many people who use MT4, will greatly appreciate this programming work of yours.
The idea of pink is colour co-ordination and lack of confusion.
We already have red/green candles, blue Bollinger bands so we are limited to colours such as pink, orange and black.
Yellow is too hard to see.
Now there are people who trade with a black background.
It looks very sexy but I have done resolution experiments with different colour backgrounds.
The best fine resolution is with a [U]white background[/U] - that why I use it.
Trying our very best [B]Sam111[/B].
There are many more factors affecting candlestick trading
We expect all these factors to be included in, and shown up in the various shapes of the candlestick patterns.