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Daily Chart 3-Candle

  • #501
  • Edited 8:51am Oct 5, 2018 8:17am | Edited 8:51am
Quoting birdland
...to help SwingMan and us to understand you correct regarding the best buy/sell levels...
Thank you very much!
It is that I did not quite understand how to identify the Swings.
It seems to me that the idea is similar to "Guppy Count Back Line".

In this thread https://www.forexfactory.com/showthr...35#post8492935
you will find a .pdf description and the indicator. You could go from Guppy's 3 bars to 5. I will also try to think about it.
Attached Image
  • #502
  • Oct 5, 2018 8:25am Oct 5, 2018 8:25am
Hi everyone,

I'm just seeing all your messages. I'm on the road at the moment. Please give me a few to respond.

In a bit birdalnd
Hero Traders Live to see their Accounts Die!
  • #503
  • Oct 5, 2018 8:30am Oct 5, 2018 8:30am
Quoting SwingMan
{quote} Thank you very much! It is that I did not quite understand how to identify the Swings. It seems to me that the idea is similar to "Guppy Count Back Line". In this thread https://www.forexfactory.com/showthr...35#post8492935 you will find a .pdf description and the indicator. You could go from guppy's 3 bars to 5. I will also try to think about it.
Your indice is one thing i like. Nice man.
UJ H4 start to short
Attached Image (click to enlarge)
Click to Enlarge Name: Capture3.JPG Size: 107 KB
Profit growth tells you the trader ability.
  • #504
  • Oct 5, 2018 8:41am Oct 5, 2018 8:41am
HI Swingman

First off the first indi is great. Works great..I only have some filters for Optimal setups and takeout. I will send these later. Have them saved on my laptop.

The best buy and best sell are NOT the same as previously described rejection levels.

BEST BUY
This is the low of the highest bullish bar low in a 5 bar swing high

BEST SELL
This is the High of the lowest bearish bar high in a 5 bar swing low

SWING LOW
Consists of 5 bars with the middle bar having the lowest the low and having two bars with higher lows on the left and right

SWING HIGH
Middle bar has the highest high and two bars on the left with lower highs and two bars on the right lower highs
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  • #505
  • Oct 5, 2018 8:45am Oct 5, 2018 8:45am
Quoting SwingMan
{quote} Thank you very much! It is that I did not quite understand how to identify the Swings. It seems to me that the idea is similar to "Guppy Count Back Line". In this thread https://www.forexfactory.com/showthr...35#post8492935 you will find a .pdf description and the indicator. You could go from guppy's 3 bars to 5. I will also try to think about it.
Thank you Swing man. I will look at this as well.
Hero Traders Live to see their Accounts Die!
  • #506
  • Oct 5, 2018 9:12am Oct 5, 2018 9:12am
Quoting SwingMan
{quote} Thank you very much! It is that I did not quite understand how to identify the Swings. It seems to me that the idea is similar to "Guppy Count Back Line". In this thread https://www.forexfactory.com/showthr...35#post8492935 you will find a .pdf description and the indicator. You could go from Guppy's 3 bars to 5. I will also try to think about it. {image}
thank you, its also interesting to study the "guppy count back line", but as i see its not the same concept as the "best buy/sell levels".
hopefully you understand post 504 from simone, which seems to be a clear description.
trading is like dancing, don't think and just listen to the music!
  • #507
  • Oct 5, 2018 10:12am Oct 5, 2018 10:12am
Quoting simoneg
- BEST BUY This is the low of the highest bullish bar low in a 5 bar swing high
- SWING HIGH Middle bar has the highest high and two bars on the left with lower highs and two bars on the right lower highs
OK,
The SWING's are fractals, all other is simple.
  • #508
  • Oct 5, 2018 10:18am Oct 5, 2018 10:18am
Quoting SwingMan
{quote} OK, The SWING's are fractals, all other is simple.
Yes Swingman!
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  • #509
  • Oct 5, 2018 2:46pm Oct 5, 2018 2:46pm
Quoting SwingMan
{quote} Thank you very much! It is that I did not quite understand how to identify the Swings. It seems to me that the idea is similar to "Guppy Count Back Line". In this thread https://www.forexfactory.com/showthr...35#post8492935 you will find a .pdf description and the indicator. You could go from Guppy's 3 bars to 5. I will also try to think about it. {image}

Hi again SwingMan. The Guppy Count Back Line is different from the strategy we are using here.
Hero Traders Live to see their Accounts Die!
  • #510
  • Oct 6, 2018 1:21am Oct 6, 2018 1:21am
Hi Simoneg

I like your thread. Thank you for starting it.
For 2 weeks I was a bit confused in trying to understand the concept, until I saw your post 504.
'The best buy and best sell are NOT the same as previously described rejection levels.'

I have summarized the points using my own understanding in paraphrasing them.
Would appreciate your help in vetting them through.
Would be happy if another trader can understand this perspective.

All swing low and swing high consists of 5 bars.

1. Reversal (Can also be applied to Continuation)

- Swing low Buy is when Bar 3 closes above Bullish bar 1 open or Bearish bar 1 close
(Market could be Bearish if price is unable to close above highest Bullish bar close)
- Swing high Sell is when Bar 3 closes below Bearish bar 1 open or Bullish bar 1 close
(Market could be Bullish if price is unable to close below lowest Bearish bar close)

2. Rejection of Reversal

- Swing high Buy is at lowest Bearish bar close (where price is unable to close below)
- Swing low Sell is at highest Bullish bar close (where price is unable to close above)

3. Continuation

- Swing high Best Buy is at highest Bullish bar low
- Swing low Best Sell is at lowest Bearish bar high

Thank you
ITB - Seeing Orderliness amongst 'Randomness'
  • #511
  • Oct 6, 2018 1:36am Oct 6, 2018 1:36am
Subs. Thanks and
Regards
  • #512
  • Oct 6, 2018 6:31am Oct 6, 2018 6:31am
Quoting Inthebox
Hi Simoneg I like your thread. Thank you for starting it. For 2 weeks I was a bit confused in trying to understand the concept, until I saw your post 504. 'The best buy and best sell are NOT the same as previously described rejection levels.' I have summarized the points using my own understanding in paraphrasing them. Would appreciate your help in vetting them through. Would be happy if another trader can understand this perspective. All swing low and swing high consists of 5 bars. 1. Reversal (Can also be applied to Continuation) - Swing low Buy...
Hi Inthebox,

Your summary is quite simple and concise. That just about wrapped it all up in a nice little box.

Thank you!
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  • #513
  • Oct 6, 2018 7:41am Oct 6, 2018 7:41am
Simoneg
Thanks for your attention.
ITB - Seeing Orderliness amongst 'Randomness'
  • #514
  • Edited 8:16am Oct 7, 2018 6:09am | Edited 8:16am
Please check the correctness of the best-level lines.

In the next version, the upper time frames will be considered.
  • #515
  • Oct 7, 2018 6:19am Oct 7, 2018 6:19am
Quoting SwingMan
Please check the correctness of the best-level lines. In the next version, the upper time frames will be considered. {image} {file}
Thank you SwingMan!

Will do.
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  • #516
  • Oct 7, 2018 6:32am Oct 7, 2018 6:32am
Quoting SwingMan
Please check the correctness of the best-level lines. In the next version, the upper time frames will be considered. {image} {file}
Hey SwingMan,

It doesn't seem to be picking the levels correctly. Even from the chartshot you have, the best buy is the Highest bullish bar Low in the Swing High and the best sell the Lowest Bearish Bar High in the Swing Low.

The best buy is only found in the swing highs and the best sells are only found in the swing lows.

Look at the attached chart AUDJPY H4, with the correct levels marked against the indi's picks.
Attached Image (click to enlarge)
Click to Enlarge Name: bestlevels.png Size: 21 KB
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  • #517
  • Oct 7, 2018 8:24am Oct 7, 2018 8:24am
Quoting simoneg
- the best buy is the Highest bullish bar Low in the Swing High and
- the best sell the Lowest Bearish Bar High in the Swing Low.

The best buy is only found in the swing highs and the best sells are only found in the swing lows.
Look at the attached chart AUDJPY H4, with the correct levels marked against the indi's picks
You are right, I have made a small correction in code.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYH4-fractals.png Size: 19 KB
Attached File(s)
File Type: ex4 sm3Candle BestLevels_v1.1.ex4   18 KB | 662 downloads
  • #518
  • Oct 7, 2018 8:35am Oct 7, 2018 8:35am
Quoting SwingMan
{quote} You are right, I have made a small correction in code. {image} {file}
Thank you SwingMan!

Checking it out.
Hero Traders Live to see their Accounts Die!
  • #519
  • Oct 7, 2018 9:01am Oct 7, 2018 9:01am
thank you swingMan for your effort so far! i am a bit excited like a child;-)
trading is like dancing, don't think and just listen to the music!
  • #520
  • Edited Oct 8, 2018 4:02am Oct 7, 2018 9:29am | Edited Oct 8, 2018 4:02am
Quoting voketexpert
{quote} Your indice is one thing i like. Nice man. UJ H4 start to short {image}
hello, shoulder head shoulder ???
swing is maybe ok, but in the long run
I like the indicator sm3, you could still attach an alert
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 62 KB
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