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High Reward to Risk Trading

  • #261
  • May 21, 2016 5:06am May 21, 2016 5:06am
Quoting abokwaik
{quote} It happens all the time. Another one on Gold yesterday. Unfortunately I didn't use my own tip :nerd:. {image} For people using systems with predefined SL, try it out. When your system give a buy signal with a predefined stop, don' take the signal, and open a pending buy limit at the stop level given by the system with a SL much less that the original stop (e.g. one third), and a first TP at the entry level give by the system. I might do it test it my self on few of my systems.
Hi abokwaik,
I think this is the same situation that two days ago I asked you in Candle Sequence Thread. Entry on that final "whiplash"
similar to that SL you are thinking about. I hope to bring in some idea with that.
Learning
  • #262
  • May 21, 2016 5:30am May 21, 2016 5:30am
Quoting troya7634
{quote} Hi abokwaik, I think this is the same situation that two days ago I asked you in Candle Sequence Thread. Entry on that final "whiplash" similar to that SL you are thinking about. I hope to bring in some idea with that.
Hmmm .. I red your post there but I didn't understand it.
I mean how to define the final whiplash ?

As we are trading tops and bottoms, it is very essential for us to Predict the final whiplash.
Would it be the 2nd Low/High break, the 3rd break .. ?
Because trying to fade every break accumulate expensive losses.
No guts, no glory
  • #263
  • May 21, 2016 5:35am May 21, 2016 5:35am
And we need to be as close as possible to the top or bottom in order to achieve high RR.

BB_Power gives us indications on change of bull bear power, but it is late.
No guts, no glory
  • #264
  • May 21, 2016 6:10am May 21, 2016 6:10am
[quote=abokwaik;8938557]{quote} Hmmm .. I red your post there but I didn't understand it. I mean how to define the final whiplash ? As we are trading tops and bottoms, it is very essential for us to Predict the final whiplash. Would it be the 2nd Low/High break, the 3rd break .. ? Because trying to fade every break accumulate expensive losses.[/

Today Im from my smartphone, tomorrow i'll try to explain it through several images, and with a better english ..... 🙈🙈🙈🙈🙈🙈
Learning
  • #265
  • May 21, 2016 2:40pm May 21, 2016 2:40pm
Here is 1 high R:R trade on Eur/Gbp this week if price makes it to our zone of interest.

Attached Image (click to enlarge)
Click to Enlarge Name: 05.21.2016-22.40.png Size: 94 KB
  • #266
  • May 21, 2016 5:02pm May 21, 2016 5:02pm
Two weeks in a row now I was up 25% by Wed & by Fri I'd given it all back + New week just around the corner, let's see what she'll bring?
Attached Image
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #267
  • May 21, 2016 7:02pm May 21, 2016 7:02pm
Quoting timos
Here is 1 high R:R trade on Eur/Gbp this week if price makes it to our zone of interest. {image}
Good eye timos! & going by the High Reward to Risk Trading method here, the Supply candle in control you pointed out is also an unclosed LVC long target, price may very well come back & close it.
Attached Image (click to enlarge)
Click to Enlarge Name: LVC LONG TARGET.png Size: 37 KB
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #268
  • Edited 3:50am May 22, 2016 3:35am | Edited 3:50am
Hi abokwaik!

Quick question regarding your LVC indicator. I read through your other thread. I currently trade Renko charts and I'm using your LVC indicator. I have future bars set to 1. Does that mean the arrow will appear after the low volume brick closes and the next brick opens? Instead of waiting 6 candles for the arrow to appear it will only take 1 candle (see image below)?

Thanks!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-05-22 at 3.19.09 AM.png Size: 57 KB
Click to Enlarge Name: lcv.png Size: 179 KB
  • #269
  • May 22, 2016 3:38am May 22, 2016 3:38am
Quoting GPips
{quote} Good eye timos! & going by the High Reward to Risk Trading method here, the Supply candle in control you pointed out is also an unclosed LVC long target, price may very well come back & close it. {image}
Good morning pal.

I don't know what LVC is but what you pointed with red arrow is exactly the source of the down move
  • #270
  • May 22, 2016 4:00am May 22, 2016 4:00am
Quoting lKeithStone
Hi abokwaik! Quick question regarding your LVC indicator. I read through your other thread. I currently trade Renko charts and I'm using your LVC indicator. I have future bars set to 1. Does that mean the arrow will appear after the low volume brick closes and the next brick opens? Instead of waiting 6 candles for the arrow to appear it will only take 1 candle (see image below)? Thanks! {image} {image}
The original idea behind LVCs was to use them as Profit Targets not Entry Points.
An LVC is a candle with Low Volume with RESPECTED OPEN PRICE (i.e. Its Open Price is not breached by a number of following candles).
For this, the more Future Bars you use the higher target you can achieve.

Using LVC as Entry points "can be valid" but :

  1. smaller number of future bars ---> more false entry signals
  2. higher number of future bars ---> late entry, higher risk of reversal.


Your Chart :

Attached Image (click to enlarge)
Click to Enlarge Name: lcv_khalil.png Size: 211 KB


PS: I haven't used LVCs on Range/Renko bars, So I have no experience with that. I don't even know how Renko tracks tick volume.
No guts, no glory
  • #271
  • May 22, 2016 4:22am May 22, 2016 4:22am
Quoting abokwaik
{quote} The original idea behind LVCs was to use them as Profit Targets not Entry Points. An LVC is a candle with Low Volume with RESPECTED OPEN PRICE (i.e. Its Open Price is not breached by a number of following candles). For this, the more Future Bars you use the higher target you can achieve. Using LVC as Entry points "can be valid" but : smaller number of future bars ---> more false entry signals higher number of future bars ---> late entry, higher risk of reversal. Your Chart : {image} PS: I haven't used LVCs on Range/Renko bars, So I have...
Thanks for your response abokwaik. Yes, I understand they are intend for profit targets. I've explored low volume candles in the past and found that they make great S/R zones.

Is there a way you can update the indicator so I can put 0 in the future bars field? When I try now it doesn't show any arrows.
  • #272
  • May 22, 2016 5:03am May 22, 2016 5:03am
Quoting lKeithStone
{quote} Thanks for your response abokwaik. Yes, I understand they are intend for profit targets. I've explored low volume candles in the past and found that they make great S/R zones. Is there a way you can update the indicator so I can put 0 in the future bars field? When I try now it doesn't show any arrows.
It is not possible. Because the next candle (with green arrow on your chart) should close first so that we know that previous candle (LVC) open price is still respected, So the first arrow can appear after the open of the third candle (with orange arrow on your chart).
No guts, no glory
  • #273
  • May 22, 2016 5:06am May 22, 2016 5:06am
I've just coded an experimental EA to trade LVCs only.
What I found so far, is that the EA performs better with lower loopback candles, and higher future candles.

Which "could mean" that volume is irrelevant if we want to use LVCs as Entry triggers rather than profit targets.
And what does really matter for Entry is the RESPECTED OPEN Price, the longer it is respected, the better entry. :nerd:
No guts, no glory
  • #274
  • May 22, 2016 10:09am May 22, 2016 10:09am
Quoting abokwaik
{quote} It is not possible. Because the next candle (with green arrow on your chart) should close first so that we know that previous candle (LVC) open price is still respected, So the first arrow can appear after the open of the third candle (with orange arrow on your chart).
Okay, so what I'm asking for is this logic:

If this candle has lower volume than the previous 6 candles, then print arrow on close. With some type of filter for min/max volume settings.

With Renko I believe this will show momentum bricks. Once I have the logic above coded I can tweak the volume settings and loopback candles to give the best results. I'm just not sure how to adjust your code to give me that logic.

Thanks!
  • #275
  • May 22, 2016 10:24am May 22, 2016 10:24am
Quoting lKeithStone
{quote} Okay, so what I'm asking for is this logic: If this candle has lower volume than the previous 6 candles, then print arrow on close. With some type of filter for min/max volume settings. With Renko I believe this will show momentum bricks. Once I have the logic above coded I can tweak the volume settings and loopback candles to give the best results. I'm just not sure how to adjust your code to give me that logic. Thanks!
Here.
A modified version with No Future Candles.
Attached File(s)
File Type: ex4 LVC_Detector_04_NFC.ex4   14 KB | 622 downloads
No guts, no glory
  • #276
  • May 22, 2016 10:27am May 22, 2016 10:27am
Quoting abokwaik
{quote} It is not possible. Because the next candle (with green arrow on your chart) should close first so that we know that previous candle (LVC) open price is still respected, So the first arrow can appear after the open of the third candle (with orange arrow on your chart).
I have a indicator that shows tick volume per candle above/below the candle on the chart. I would want an arrow to show after this candle printed (see below).
Attached Image (click to enlarge)
Click to Enlarge Name: LowTick.png Size: 125 KB
  • #277
  • May 22, 2016 10:47am May 22, 2016 10:47am
Quoting abokwaik
{quote} Here. A modified version with No Future Candles. {file}
Thank you abokwaik. Can you share the .mq4 file?
  • #278
  • May 22, 2016 11:01am May 22, 2016 11:01am
Quoting lKeithStone
{quote} Thank you abokwaik. Can you share the .mq4 file?
here
Attached File(s)
File Type: mq4 LVC_Detector_04_NFC.mq4   6 KB | 725 downloads
No guts, no glory
  • #279
  • May 22, 2016 5:52pm May 22, 2016 5:52pm
Watch Usd/Jpy for shorts.It may give us lot of pips guys if confirmation for shorts appears

Attached Image (click to enlarge)
Click to Enlarge Name: 05.23.2016-01.51.png Size: 44 KB
  • #280
  • May 23, 2016 3:08am May 23, 2016 3:08am
Playing with DAX this morning for the 1st time .

Not bad
No guts, no glory
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