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

  • #121
  • Dec 3, 2013 6:20am Dec 3, 2013 6:20am
Sorry password, but i count 116 bars in your chart! I thought it should be 96?

Cheers and sorry if i`m wrong

Edit:

Sorry at the time you where right!
  • #122
  • Dec 3, 2013 7:20am Dec 3, 2013 7:20am
Quoting magft
Password kudos for posting this thread. Anyone else seen this strange broker data where the dsp candle doesn't look correct? First one is EU M15 and the second is GU M15. I'm testing on FXCM Spreadbetting account. Regards Mike {image} {image}

I use FXCM as well and that is an error in their MT4 feed. At the time news had just been released and the feed went down and didn't come back until 15-20 mins later. However, it doesn't make much difference to the method.
  • #123
  • Dec 3, 2013 7:45am Dec 3, 2013 7:45am
EURGBP:
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpm15.png Size: 37 KB
  • #124
  • Edited 8:19am Dec 3, 2013 7:55am | Edited 8:19am
Digamber,
I used your Candle indicator to determine the max and the min of the past 96 bars as shown by the indicator in the subwindow.

The main window has two lines , Orange and Green and are based on your concept that the Open of the Max Candle is a sell (Orange)and the open of the min candle is a buy(green). Drawing these two lines, as they become effective yields a very interesting trading concept. Buy above the two lines, Sell below the two lines and if the pa crosses any line , use as a stop loss or take profit.

Problem is that your indicator is a cpu hog and causes issues.

I have sent you a private message with my email.


Cheers
This is the 15 min 96 bars Look Back

Pat
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdmm15.png Size: 60 KB


This is the Hourly with 24 bars Look Back

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdmh1.png Size: 52 KB
  • #125
  • Dec 3, 2013 8:43am Dec 3, 2013 8:43am
Quoting IenDzi
EURGBP: {image}

i get this with eur gbp???
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-m15-instaforex-group.png Size: 33 KB
  • #126
  • Dec 3, 2013 9:13am Dec 3, 2013 9:13am
Quoting Pat1
Problem is that your indicator is a cpu hog and causes issues.
Have you checked the source code if it calculates on every tick? It does't have to. It also needs to calculate on every new bar and then only for the last bar. All others can be written into a buffer when initiating. Normally it shouldn't need much cpu power then.

I am just writing on my own indicator to do this. Actually it draws the lines for the current bar and not for the past ones. This has to be implemented in future steps.
  • #127
  • Dec 3, 2013 9:39am Dec 3, 2013 9:39am
Quoting Pat1
Digamber, I used your Candle indicator to determine the max and the min of the past 96 bars as shown by the indicator in the subwindow. The main window has two lines , Orange and Green and are based on your concept that the Open of the Max Candle is a sell (Orange)and the open of the min candle is a buy(green). Drawing these two lines, as they become effective yields a very interesting trading concept. Buy above the two lines, Sell below the two lines and if the pa crosses any line , use as a stop loss or take profit. Problem is that your indicator...
Pat

Why do you need to use the other indicator? Why not just scan the last 96bars for candle body size and look for the largest buy and sell candles and use them to draw the lines. I've already written an EA for the system but it is not profitable so i'm still tinkering with ideas, currently testing in Zorro for multiple pairs.

I do like your concept for a trading strategy though.

Regards

Mike
  • #128
  • Dec 3, 2013 10:12am Dec 3, 2013 10:12am
Quoting magft
{quote} Pat Why do you need to use the other indicator? Why not just scan the last 96bars for candle body size and look for the largest buy and sell candles and use them to draw the lines. I've already written an EA for the system but it is not profitable so i'm still tinkering with ideas, currently testing in Zorro for multiple pairs. I do like your concept for a trading strategy though. Regards Mike

The other indicator ( Candle Length indicator) helps to find on what side we have to look for the BIG DSP candle: Bullish side or bearish side.
  • #129
  • Edited 10:25am Dec 3, 2013 10:21am | Edited 10:25am
Quoting simplecoders
{quote} The other indicator ( Candle Length indicator) helps to find on what side we have to look for the BIG DSP candle: Bullish side or bearish side.
So does what i said, all you ahve to do is just check which candle size is bigger out of the max buy candle and max sell candle in the 96 bar range.

That indicator is a visual representation but Pat1 is looking at using the idea to help make a successful trading strategy.

My EA finds the DSP candle and draws lines for me so i can see the dsp candle, it also states the trade direction as well and enters when price crosses as stated in Post #1.

I dont use the candle length indicator for any of this, that was the point i was making to reduce cpu overheads.

This system seems to work well so lets see how it pans out, only forward testing will tell.

Regards

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-12-03_162314.png Size: 27 KB
  • #130
  • Dec 3, 2013 10:44am Dec 3, 2013 10:44am
Quoting Pat1
Digamber, I used your Candle indicator to determine the max and the min of the past 96 bars as shown by the indicator in the subwindow. The main window has two lines , Orange and Green and are based on your concept that the Open of the Max Candle is a sell (Orange)and the open of the min candle is a buy(green). Drawing these two lines, as they become effective yields a very interesting trading concept. Buy above the two lines, Sell below the two lines and if the pa crosses any line , use as a stop loss or take profit. Problem is that your indicator...
Dear Pat..

I would like to request you (and everyone) to follow trading rules mentioned in the first post of this thread. I am following those rules only and can comment on those only. Apart from that I have no experience with other indicators u are trading with. As far as candle length indicator is concern I haven't found any issue with it.

Regards
  • #131
  • Dec 3, 2013 10:46am Dec 3, 2013 10:46am
Quoting IenDzi
EURGBP: {image}
Should be in profit. One of the best DSP candle to trade.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 99 KB
  • #132
  • Dec 3, 2013 11:04am Dec 3, 2013 11:04am
Quoting Password
{quote} Thanks for observations... Lots of questions. Try to find answers to all your questions frm following chart.. it made $100+ on demo account. {image} All in all it worked for me.. and may work with others. What i did is just followed what mentioned in first post of this thread. Frankly.. I don't have answers to your smart questions. Excuse me.
hi password..
i don't really understand how your trade setup.. i find it interesting but dunno how to choose the bear/bull candle base on DSP.. could you tell us show us why and what are the reason you choose the bull or bear candle???

thanks friend..
  • #133
  • Dec 3, 2013 11:18am Dec 3, 2013 11:18am
Quoting conglom-o
{quote} Have you checked the source code if it calculates on every tick? It does't have to. It also needs to calculate on every new bar and then only for the last bar. All others can be written into a buffer when initiating. Normally it shouldn't need much cpu power then. I am just writing on my own indicator to do this. Actually it draws the lines for the current bar and not for the past ones. This has to be implemented in future steps.
conglom,

Password provided an ex file and not the source code hence the question.

Cheers

Pat
  • #134
  • Dec 3, 2013 11:32am Dec 3, 2013 11:32am
Quoting Password
{quote} Dear Pat.. I would like to request you (and everyone) to follow trading rules mentioned in the first post of this thread. I am following those rules only and can comment on those only. Apart from that I have no experience with other indicators u are trading with. As far as candle length indicator is concern I haven't found any issue with it. Regards

Password,

Just read your post. Just to clarify, the indicators on the chart is exactly your strategy. The difference is that you manually draw a horizontal line either a buy or sell depending on the max and min within the look back number of bars and their relative magnitude with respect to each other. The indi you see on the chart shows both, the buy and sell without considering the "magnitude" but does adhere to the look back your strategy calls for. This change allows trading with the trend unlike your concept which is counter trend.

anyways, thanks for the concept and all the best.

Cheers

Pat
  • #135
  • Dec 3, 2013 6:31pm Dec 3, 2013 6:31pm
Quoting IenDzi
EURGBP: {image}
Hi ,i dont see EURGBP DSP in my chart, Any thing wrong with setup
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 13 KB
NEVER go against the Daily trend
  • #136
  • Dec 3, 2013 8:26pm Dec 3, 2013 8:26pm
Quoting satria baja
{quote} hi password.. i don't really understand how your trade setup.. i find it interesting but dunno how to choose the bear/bull candle base on DSP.. could you tell us show us why and what are the reason you choose the bull or bear candle??? thanks friend..

Hi,

This is very simple. really, you don't need some indicator. But it simplifies the search.

Only find largest candle (body) in the last 96 in M15. This is the DSP.

Also, you need to compare DSP with the largest candle in the other direction. If both candles (body) has similar size, don't trade.

it is all.

With regards,

Maudur
Enter Signature
  • #137
  • Edited 10:37pm Dec 3, 2013 10:25pm | Edited 10:37pm
Quoting Pat1
{quote} conglom, Password provided an ex file and not the source code hence the question. Cheers Pat
Hi,

Here is source code of similar indicator that display lenght of each candle body.

With regards,

Maudur
Attached File(s)
File Type: mq4 CandleLengthDisplay.mq4   5 KB | 784 downloads
Enter Signature
  • #138
  • Dec 4, 2013 2:06am Dec 4, 2013 2:06am
Quoting shaikjun
{quote} Hi ,i dont see EURGBP DSP in my chart, Any thing wrong with setup {image}

This candle is different then mine, your is bullish and the gap from somewhere, mine is bearish. Maybe missing some data.
Attached Image
  • #139
  • Dec 4, 2013 2:17am Dec 4, 2013 2:17am
Quoting IenDzi
{quote} This candle is different then mine, your is bullish and the gap from somewhere, mine is bearish. Maybe missing some data. {image}
Thanks for your clarification ,is it anything to do with broker ?hope password can guide me here,could some kind soul edit this inductor with alert based on highest or lowest DSP candle .
Thankz
NEVER go against the Daily trend
  • #140
  • Dec 4, 2013 4:12am Dec 4, 2013 4:12am
Quoting Pat1
{quote} Password, Just read your post. Just to clarify, the indicators on the chart is exactly your strategy. The difference is that you manually draw a horizontal line either a buy or sell depending on the max and min within the look back number of bars and their relative magnitude with respect to each other. The indi you see on the chart shows both, the buy and sell without considering the "magnitude" but does adhere to the look back your strategy calls for. This change allows trading with the trend unlike your concept which is counter trend....
Pat, nice indy! That's exactly what I (and I presume most of us) am looking for. It does make life a lot easier, especially if you're looking at multiple pairs. Any chance you will be sharing it?
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