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Attachments: Digamber Shankar PATIL's DSP Candle Strategy
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Digamber Shankar PATIL's DSP Candle Strategy

  • #61
  • Nov 29, 2013 2:40am Nov 29, 2013 2:40am
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  • #62
  • Nov 29, 2013 2:48am Nov 29, 2013 2:48am
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  • #63
  • Nov 29, 2013 2:50am Nov 29, 2013 2:50am
Took a short on EURJPY @ 139.166 after a retest of the DSP open... actually went higher so I have a slightly better than 1:1 RR.

Feast your eyes...

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  • #64
  • Nov 29, 2013 2:51am Nov 29, 2013 2:51am
Quoting fighterdude
Stalking a NZDUSD Long... Would prefer price to retest the DSP Open lvl, so I have a pending long at 0.8118. Lets wait and watch... {image}
NOW bulls n bear are equal
  • #65
  • Nov 29, 2013 2:57am Nov 29, 2013 2:57am
Quoting kepo38
{quote} NOW bulls n bear are equal

actually no... look at the indicator's scale. The 0 lvl is much closer to the upper end of the range than it is to the lower.

Bloody hell it just missed my pending order by half a pip.
  • #66
  • Nov 29, 2013 3:02am Nov 29, 2013 3:02am
Entered Long on NZDJPY @ 83.10 after we finally broke over the DSP open in a convincing way and retested it. Still using 1:1 RR

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  • #67
  • Nov 29, 2013 3:03am Nov 29, 2013 3:03am
stopped out on EURJPY.

Watching another DSP to the upside on this one.

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  • #68
  • Nov 29, 2013 3:06am Nov 29, 2013 3:06am
Hmm it seems that setting the refresh setting on the indicator doesn't solve the visual issues and the only way to clear it is to manually refresh the indicator.

No real problem and doesn't sabotage the method... just a little annoying.
  • #69
  • Nov 29, 2013 3:16am Nov 29, 2013 3:16am
NZDUSD Long Filled @ 0.8118.
  • #70
  • Nov 29, 2013 3:24am Nov 29, 2013 3:24am
I'm short GBPUSD @ 1.63446, after price pulled back to the DSP open. 1:1 RR again.

Let's see how it goes.

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  • #71
  • Nov 29, 2013 3:48am Nov 29, 2013 3:48am
GBPUSD Short Target hit...

Another +2%....

so far I've had +2%, -1.7% and +2%... not too shabby...

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  • #72
  • Nov 29, 2013 4:03am Nov 29, 2013 4:03am
A new DSP for potential shorts just popped up on gold.

Check it out.

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  • #73
  • Nov 29, 2013 7:34am Nov 29, 2013 7:34am
Quoting akadirb
{image}
Please check the first thread again.. it has been updated. You are following old procedure to find dsp candle.
  • #74
  • Nov 29, 2013 7:36am Nov 29, 2013 7:36am
Quoting fighterdude
Hmm it seems that setting the refresh setting on the indicator doesn't solve the visual issues and the only way to clear it is to manually refresh the indicator. No real problem and doesn't sabotage the method... just a little annoying.
I dont have any issue with candle length indicator with default setting... Its only for one time use.. ie to find dsp candle. no need to track it continuously.

Restart metatrader if u find any problem with it.
  • #75
  • Nov 29, 2013 7:38am Nov 29, 2013 7:38am
Quoting fighterdude
Entered Long on NZDJPY @ 83.10 after we finally broke over the DSP open in a convincing way and retested it. Still using 1:1 RR {image}
Should be in profit

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  • #76
  • Nov 29, 2013 7:42am Nov 29, 2013 7:42am
Quoting fighterdude
GBPUSD Short Target hit... Another +2%.... so far I've had +2%, -1.7% and +2%... not too shabby... {image}
I doubt .. this chart having more than 96 bars. Plz check.
  • #77
  • Nov 29, 2013 7:50am Nov 29, 2013 7:50am
Quoting Password
{quote} I doubt .. this chart having more than 96 bars. Plz check.
No, I know it has way more than 96 bars.

I just mark the 24 hr point and then analyze from there. Been working fantastically.

However to be honest, I do add my own analysis into it for trend direction, current price pressure etc.... but I use this method for finding opportunities.

So far I've had 6 profitable trades and 2 losses. All 1:1 RR or better at 2% risk.

So I'm up more than 8% on the day. Really nice so far...

Cheers mate!

~fighter

- CHECK RESULTS BELOW -

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  • #78
  • Nov 29, 2013 8:37am Nov 29, 2013 8:37am
What do you do when you've traded a DSP candle and a new one forms, and both the traded and the new DSP are within the 24h period? Do you trade it or do you only start looking for opportunities again when the traded DSP candle is out of the 24h period?
  • #79
  • Nov 29, 2013 8:44am Nov 29, 2013 8:44am
Quoting Anusragger
What do you do when you've traded a DSP candle and a new one forms, and both the traded and the new DSP are within the 24h period? Do you trade it or do you only start looking for opportunities again when the traded DSP candle is out of the 24h period?
Who are you directing the question to? I trade this method slightly differently than the OP does... just so you know.

With my style I look to see if the new DSP is heading in the direction of the longer trend, meaning that if the price were to break the open of the candle then it would signal a continuation of the trend. If it is going in the opposite direction and I am already in a trade headed with the trend then theoretically we should be in good profit at that point on the current trade because a DSP candle trade, with this method, is only taken when price comes back to close beyond the open of the bar.

So in short, I dont do anything until price closes above/below the open of the DSP.
  • #80
  • Nov 29, 2013 8:48am Nov 29, 2013 8:48am
Quoting fighterdude
{quote} No, I know it has way more than 96 bars. I just mark the 24 hr point and then analyze from there. Been working fantastically. However to be honest, I do add my own analysis into it for trend direction, current price pressure etc.... but I use this method for finding opportunities. So far I've had 6 profitable trades and 2 losses. All 1:1 RR or better at 2% risk. So I'm up more than 8% on the day. Really nice so far... Cheers mate! ~fighter - CHECK RESULTS BELOW - {image}
Good results.
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