Two candle strategy

Discussion in 'Technical Analysis' started by karthik_sri, Sep 30, 2013.

  1. vsaran

    vsaran Active Member

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    But why you have taken first and second candle combined to arrive at 50% level?
     
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  2. karthik_sri

    karthik_sri Well-Known Member

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    Hi RKK,
    Yes that also qualifies!! Left it purposefully to see whether it has captured the eyes of all.

    http://i.imgur.com/54aGBD7.png
     
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  3. karthik_sri

    karthik_sri Well-Known Member

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    I dont have programming knowledge! I have not tested with AFL
     
  4. karthik_sri

    karthik_sri Well-Known Member

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    Yes Aarav...that also qualifies...

    http://i.imgur.com/fGoqHxn.png
     
  5. Happy_Singh

    Happy_Singh Well-Known Member

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    Code:
    //Karthik's 2 Bar Strat
    Bull	= 	Ref(C,-1) > Ref(O,-1) AND C > O AND H > Ref(H,-1) AND L > (Ref(H,-1)+Ref(L,-1))/2;
    Bear	= 	Ref(C,-1) < Ref(O,-1) AND C < O AND L < Ref(L,-1) AND H < (Ref(H,-1)+Ref(L,-1))/2;
    Filter =  Bull OR Bear;
    
    PlotShapes(7*Ref(Bull,-1),colorBlue,0, L);
    PlotShapes(8*Ref(Bear,-1),colorRed, 0, H);
    
    Hi = HHV(H,2);	Lo = LLV(L,2);	SL = (Hi+Lo)/2;
    LT = 2*Hi-SL; 	ST = 2*Lo-SL;
    
    if( SelectedValue(Bull)) {
    	Plot(SelectedValue(Hi),"Long BO",colorBlue,styleDashed,0,0,9);
    	Plot(SelectedValue(LT),"Long Target",colorBlueGrey,styleDashed,0,0,9);
    	Plot(SelectedValue(SL),"Stop Loss",colorBrightGreen,styleDashed,0,0,9); }
    if( SelectedValue(Bear)) {
    	Plot(SelectedValue(Lo),"Short BO",colorRed,styleDashed,0,0,9);
    	Plot(SelectedValue(ST),"Short Target",colorLime,styleDashed,0,0,9);
    	Plot(SelectedValue(SL),"Stop Loss",colorBrightGreen,styleDashed,0,0,9); }
    
    
    Version 2, with more visual aids for trading the chart . . . select the 2nd bar on the setup and the Entry/Exit & SL lines will be shown. ..

    Cheers

    :) Happy
     
  6. Vertigo_1985

    Vertigo_1985 Well-Known Member

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    ok..i will test when i get time and let you know the results...
     
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  7. Happy_Singh

    Happy_Singh Well-Known Member

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    Hi

    I believe its not going to be so straight forward :D

    The rules are good for visual trading, but if you want to automate then need to add loads of exceptions . . .

    for e.g what do you do when the rules are obeyed but the bars are tiny . . . tincy wincy ones . . . or one of them is a WRB . . .
    many such things like if it is first part on the rally/decline or exhaustion phase . . .
    when trading visually all these things are intuitively eliminated :thumb:

    Anyway looking forward to your tests

    Cheers

    :) happy
     
  8. kumudhan

    kumudhan Well-Known Member

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    what about stoploss?
     
  9. Vertigo_1985

    Vertigo_1985 Well-Known Member

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    i know a lot of filters would be needed but he hasn't mentioned any yet..maybe he can now...
     
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  10. Purushotham

    Purushotham Well-Known Member

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    Dear karthik Sri
    From the above chart, sell trigger candle is not the next candle of the two candles..... Please explain....

    I am thinking that we will take buy/sell in the next candle only other wise we will close the setup and look for the next setup.:(:(
     
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