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

  • #221
  • Dec 10, 2013 11:04am Dec 10, 2013 11:04am
Quoting milliotrade
{quote} how to define more clearly the shift Upward or Downward?

Try Large Time Frame - H4 - H1

OR

Innovate some new... i said so cant loose out on this rallies either side...
rocky1980
  • #222
  • Dec 10, 2013 11:25pm Dec 10, 2013 11:25pm
Quoting forexzak
Thanks PW n Hello to all Spend some time to modify an indicator to reflect your strategy, the code is not mine, the update to make like DSP is test it modify to suit, my programming skill are not that great it show the most recent DSP from 96 or whatever number of Bars you like to look back. After loading the indicator Press F8 and from Common Tab, Check Show Object Description, so it can show comment on line as well. {file} {file}
Good indicator. You should delete old invalid lines.
Please excuse the bad English via Google Translate.
  • #223
  • Dec 11, 2013 1:42am Dec 11, 2013 1:42am
Sorry i'm newbie and want to learn graphs. I make a picture about this strategy. to make it easier for me to understand

Is this correct.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 107 KB
  • #224
  • Dec 11, 2013 1:52am Dec 11, 2013 1:52am
Quoting milliotrade
{quote} how to define more clearly the shift Upward or Downward?
Don't. The largest bar within the last 96 (15min) is the DSP.
  • #225
  • Dec 11, 2013 1:56am Dec 11, 2013 1:56am
waiting for this moment.. look at the graph.

does it count?

Attached Image
  • #226
  • Dec 11, 2013 2:06am Dec 11, 2013 2:06am
Quoting griswold
waiting for this moment.. look at the graph. does it count? {image}
Nope. If the Bull bar is the largest of the last 96 you sell when a bar closes beneath the open of that bar. According to this strategy that is.
  • #227
  • Dec 11, 2013 3:15am Dec 11, 2013 3:15am
Hi All

Looks like an interesting thread, just a question about the Candle Length Identifier.

Do you leave the 'Candle Body Only' option at true, or change it to false, which must use the wicks as well, both settings give different results.

thanks

Martin
  • #228
  • Dec 11, 2013 3:36am Dec 11, 2013 3:36am
Quoting milliotrade
{quote} what exactly is wrong, a sell limit?
If the longest bar is bearish you have to look for long trades when crossing the DSP open by close. Read the rules in Post #1 .
  • #229
  • Dec 11, 2013 3:44am Dec 11, 2013 3:44am
so sick until now i cant figured out how the strategy / graph works..

can you pls insert another graph with notes how/when the trades take place
  • #230
  • Dec 11, 2013 3:48am Dec 11, 2013 3:48am
Quoting griswold
so sick until now i cant figured out how the strategy / graph works.. can you pls insert another graph with notes how/when the trades take place
Where exactly does your understanding stop? This information would help to help . Read 1st Post and then explain your problems in detail. This strategy here is one of the simplest I've ever seen. Thx Password .
  • #231
  • Dec 11, 2013 3:54am Dec 11, 2013 3:54am
All the rules are in the first post, my EA in signal mode aside from drawing lines and boxes out puts valid signals to the experts tab.

The screenshot below is the current GU M15 and we have a long bearish red candle, see vertical green line, and so we are waiting for price to cross the upper yellow line for a BUY/Long trade. This si based on the rules in post #1.

The second screenshot are my results using the rules in post #1 and no TS and a fixed Tp of 10pips.

Hope this helps

Mike
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013-12-11_094935.png Size: 26 KB
Click to Enlarge Name: 2013-12-11_094710.png Size: 24 KB
  • #232
  • Dec 11, 2013 3:59am Dec 11, 2013 3:59am
Look how price respects the DSP open as a supply zone. Nice.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 59 KB
  • #233
  • Dec 11, 2013 4:11am Dec 11, 2013 4:11am
Quoting conglom-o
{quote} Where exactly does your understanding stop? This information would help to help . Read 1st Post and then explain your problems in detail. This strategy here is one of the simplest I've ever seen. Thx Password .

ok.. i do understand.

BUY if closed above DSP
SELL if closed below DSP

I dont understand the candle length indicator.


buy X-axis is greater than Y-AXIS
sell if Y-axis is greater than X-axis




should the candle length indicator, tell whether to buy or sell?
  • #234
  • Dec 11, 2013 4:27am Dec 11, 2013 4:27am
Quoting griswold
{quote} ok.. i do understand. BUY if closed above DSP SELL if closed below DSP I dont understand the candle length indicator. buy X-axis is greater than Y-AXIS sell if Y-axis is greater than X-axis should the candle length indicator, tell whether to buy or sell?
Not quite.

BUY if closed above DSP (only if DSP is a bear)
SELL if closed below DSP (only if DSP is a bull)

I dont understand the candle length indicator. (Find the 1 largest bar of the last 24 hours, that's your DSP. Don't worry about the axis. This indy is just a tool.)
  • #235
  • Dec 11, 2013 4:38am Dec 11, 2013 4:38am
Quoting griswold
{quote} ok.. i do understand. BUY if closed above DSP SELL if closed below DSP I dont understand the candle length indicator. buy X-axis is greater than Y-AXIS sell if Y-axis is greater than X-axis should the candle length indicator, tell whether to buy or sell?
Look at the candle length indicator, see the two numbers on the far right hand side? Positive number above the zero line and Negative number below the zero line.... which number is furthest from the zero line, negative or positive.. if its positive find the biggest buy candle on the indicator, if its negative find the biggest sell candle on the indicator. So if the indicator shows +120 and -170 then we look at the -170 as its furthest from the zero line..you then look for the biggest sell candle. The candle that you identify is now called the Dsp candle.

If the DSP candle that you have identified is a Buy (usually green in most pics) then once price closes below the open of this candle, place a sell trade.
Opposite for a Sell candle.
  • #236
  • Edited Dec 12, 2013 2:10am Dec 11, 2013 4:46am | Edited Dec 12, 2013 2:10am
Maybe this indy will make it easier. Just set 'AboveBelowAxis' to 'false'. Now you will see all bars side by side without the useless axis.
Now find the largest bar on the indy on the last 24hours (96bars if you're on a 15m).
Found it? Is the corresponding bar on the chart a bull? Sell when a bar closes below the open of the DSP.
Is the corresponding bar on the chart a bear? Buy when a bar closes above the open of the DSP.
Attached File(s)
File Type: ex4 Candle length hanover.ex4   3 KB | 753 downloads
  • #237
  • Dec 11, 2013 7:01am Dec 11, 2013 7:01am
Quoting magft
. This si based on the rules in post #1. The second screenshot are my results using the rules in post #1 and no TS and a fixed Tp of 10pips. Hope this helps Mike {image} {image}
Well done for such commitment to create the ea to test the system, but can u kindly interpret the results you got from the test!!
  • #238
  • Dec 11, 2013 7:07am Dec 11, 2013 7:07am
Quoting magft
All the rules are in the first post, my EA in signal mode aside from drawing lines and boxes out puts valid signals to the experts tab. The screenshot below is the current GU M15 and we have a long bearish red candle, see vertical green line, and so we are waiting for price to cross the upper yellow line for a BUY/Long trade. This si based on the rules in post #1. The second screenshot are my results using the rules in post #1 and no TS and a fixed Tp of 10pips. Hope this helps Mike {image} {image}
Shame to waste time with EA on demo only and expire.
Please excuse the bad English via Google Translate.
  • #239
  • Dec 11, 2013 8:00am Dec 11, 2013 8:00am
Quoting ukmartin
Hi All Looks like an interesting thread, just a question about the Candle Length Identifier. Do you leave the 'Candle Body Only' option at true, or change it to false, which must use the wicks as well, both settings give different results. thanks Martin
Anybody?

Materially changes things.
  • #240
  • Dec 11, 2013 8:48am Dec 11, 2013 8:48am
Thank you password
sorry about my english

check this out))

any body else open long eur/usd?
Attached Image (click to enlarge)
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