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

  • #141
  • Dec 4, 2013 5:50am Dec 4, 2013 5:50am
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....
I draw red line to just indicate the DSP candle.. so it will be easier for others to identify dsp candle and buy/sell limit in the main chart.

However, if you are trading with other method and want to use this method simultaneous.. then its completely fine.

Best of luck
  • #142
  • Dec 4, 2013 5:52am Dec 4, 2013 5:52am
Quoting Pat1
{quote} conglom, Password provided an ex file and not the source code hence the question. Cheers Pat
I am not the coder of this indicator. I got it somewhere in ff.com .. I have nothing to hide.
  • #143
  • Dec 4, 2013 6:02am Dec 4, 2013 6:02am
Hi, thanks Password for your system. I see on EURGBP DSP Bull candle, when will candle close bellow open prize DSP candle I will took short? Sorry my English is bad.

Attached Image (click to enlarge)
Click to Enlarge Name: Snímek obrazovky 2013-12-04 v 13.01.16.png Size: 30 KB
  • #144
  • Dec 4, 2013 6:11am Dec 4, 2013 6:11am
Quoting mirgi
Hi, thanks Password for your system. I see on EURGBP DSP Bull candle, when will candle close bellow open prize DSP candle I will took short? Sorry my English is bad. {image}
I doubt... more than 96 candles in the chart. (be careful with this). Restart your terminal frequently.

But still Large Bull candle is DSP candle. Wait till any of the succeeding candle close below its opening price and put sell order.

Stop loss should be at the closing price of dsp candle.

Good luck.
  • #145
  • Dec 4, 2013 6:13am Dec 4, 2013 6:13am
hi

seen this thread - good indicator -
ever thought of using the strategy in reverses...
just do opposite as the author mentioned...
it works magically...




regards
rocky1980
rocky1980
  • #146
  • Edited 7:29am Dec 4, 2013 6:56am | Edited 7:29am
Quoting Password
{quote} I doubt... more than 96 candles in the chart. (be careful with this).
It doesn't matter how many candles you have in the chart if you use a proper indicator. I am just working on that.

What I have in mind is:
- either use fix number of candles or hours to consider (done!) -> you can decide if you want always e.g. 96 candles or 24h to be considered (makes difference on the multiple timeframes)
- show "bull" and "bear" line (done!) -> stronger one has dash-dot-dot, weaker one dash-dot as style
- show lines for the past candles (still some work to do)

P.S.: the indicator on the bottom of the chart has nothing to do with the CandleSeeker! It's another one of mine but I didn't fancy to remove it for this image .
Attached Image (click to enlarge)
Click to Enlarge Name: candleseeker.JPG Size: 103 KB
  • #147
  • Dec 4, 2013 7:27am Dec 4, 2013 7:27am
EURUSD BUY, DSP, wait for candle close above open price, ok?
Attached Image (click to enlarge)
Click to Enlarge Name: Snímek obrazovky 2013-12-04 v 14.24.47.png Size: 26 KB
  • #148
  • Dec 4, 2013 7:44am Dec 4, 2013 7:44am
Quoting conglom-o
{quote} It doesn't matter how many candles you have in the chart if you use a proper indicator. I am just working on that. What I have in mind is: - either use fix number of candles or hours to consider (done!) -> you can decide if you want always e.g. 96 candles or 24h to be considered (makes difference on the multiple timeframes) - show "bull" and "bear" line (done!) -> stronger one has dash-dot-dot, weaker one dash-dot as style - show lines for the past candles (still some work to do) P.S.: the indicator on the bottom of the chart has nothing...
Very nice and clean, but shouldn't your indy only show the bull OR the Bear, depending on which candle is bigger? That is, if you're creating it according Password's rules.

Forget it. I just saw this: "stronger one has dash-dot-dot, weaker one dash-dot as style"
  • #149
  • Edited 8:14am Dec 4, 2013 8:00am | Edited 8:14am
Quoting mirgi
Hi, thanks Password for your system. I see on EURGBP DSP Bull candle, when will candle close bellow open prize DSP candle I will took short? Sorry my English is bad. {image}
Missed the big rally here.. as the candle closed nearly exact at the opening price of DSP Bull candle.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 96 KB


Now try for this... New DSP bear candle.

Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 96 KB
  • #150
  • Dec 4, 2013 8:02am Dec 4, 2013 8:02am
Quoting mirgi
EURUSD BUY, DSP, wait for candle close above open price, ok? {image}
Now should be like that...

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 95 KB
  • #151
  • Dec 4, 2013 8:11am Dec 4, 2013 8:11am
Quoting Anusragger
{quote} Very nice and clean, but shouldn't your indy only show the bull OR the Bear, depending on which candle is bigger? That is, if you're creating it according Password's rules. Forget it. I just saw this: "stronger one has dash-dot-dot, weaker one dash-dot as style"


I like it with both candles to consider and with the different lines you always know which one is the one Password's strategy uses.
  • #152
  • Dec 4, 2013 8:23am Dec 4, 2013 8:23am
Quoting conglom-o
{quote} I like it with both candles to consider and with the different lines you always know which one is the one Password's strategy uses.
I agree. And what do you think about a level when it has been crossed or traded? The sell trade in your image for example. The level has been crossed and/or traded, eventhough it is still the largest bull candle. Do you think it should dissapear from the screen as its is no longer (or is it) valid?
  • #153
  • Dec 4, 2013 9:35am Dec 4, 2013 9:35am
Quoting Anusragger
{quote} I agree. And what do you think about a level when it has been crossed or traded? The sell trade in your image for example. The level has been crossed and/or traded, eventhough it is still the largest bull candle. Do you think it should dissapear from the screen as its is no longer (or is it) valid?
At first you have to understand that you can't take look in the past to see any trades cause you need to know where the lines laid then. They could have moved until now. This is what is still missing in my indicator and I am working on. Any rules how and what to trade can everybody find for himself and I don't want to mess up Password's thread with that (unless he tolds us to do so ). So for now please let's come back to his rules and charts .
  • #154
  • Dec 4, 2013 9:40am Dec 4, 2013 9:40am
Quoting conglom-o
{quote} At first you have to understand that you can't take look in the past to see any trades cause you need to know where the lines laid then. They could have moved until now. This is what is still missing in my indicator and I am working on. Any rules how and what to trade can everybody find for himself and I don't want to mess up Password's thread with that (unless he tolds us to do so ). So for now please let's come back to his rules and charts .
You're right. Password, what would you do if the largest candle open has already been crossed/traded? Would you trade the second largest candle? Or wait for a larger candle?
  • #155
  • Dec 4, 2013 7:49pm Dec 4, 2013 7:49pm
is there any chance this indicator can be made so that the candle length doesn't change on different timeframes? i mean, isn't it better if everything is relative?

e.g. there can be a max and min. so if there is a HUGE spike, then that can be a 10. If cnadle doesn't move much that can be a 2.

i think it will help with consistency when using different tfs...
  • #156
  • Dec 4, 2013 9:03pm Dec 4, 2013 9:03pm
Password,

for trading , we need to check the higher timeframe?? or DSP candle only?
any suggestion?
  • #157
  • Dec 4, 2013 11:22pm Dec 4, 2013 11:22pm
Quoting Password
{quote} Now should be like that... {image}
Check out this..

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 97 KB
  • #158
  • Dec 5, 2013 1:00am Dec 5, 2013 1:00am
Quoting Password
{quote} Check out this.. {image}

Me too keeping a look out for this pair
NEVER go against the Daily trend
  • #159
  • Dec 5, 2013 2:18am Dec 5, 2013 2:18am
Quoting qwertymyfx
is there any chance this indicator can be made so that the candle length doesn't change on different timeframes?
Don't understand what you mean. If you use different timeframes both candlelength and candleplace will not be the same cause the amount of minutes and therefore prices considered are different.
  • #160
  • Dec 5, 2013 6:32am Dec 5, 2013 6:32am
Good for selling - silver

Attached Image (click to enlarge)
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