Traderji.com - Discussion forum for Stocks Commodities & Forex


Two candle strategy

Discuss Two candle strategy at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by karthik_sri 50% level is nothing but High Low of first candle divided ...


Go Back   Traderji.com - Discussion forum for Stocks Commodities & Forex > METHODS & STRATEGIES > Technical Analysis

Technical Analysis Discussion of all the principles involved in technical analysis.


Reply
 
Thread Tools
  #31  
Old 1st October 2013, 07:42 AM
Member
 
Join Date: Mar 2010
Posts: 103
Thanks: 1,003
Thanked 70 Times in 45 Posts
vsaran will become famous soon enough
Default Re: Two candle strategy

Quote:
Originally Posted by karthik_sri View Post
50% level is nothing but High Low of first candle divided by 2 i.e half level.
But why you have taken first and second candle combined to arrive at 50% level?



Reply With Quote
The Following User Says Thank You to vsaran For This Useful Post:
mastermind007 (2nd December 2013)
Sponsored Links
  #32  
Old 1st October 2013, 08:54 AM
Member
 
Join Date: Jul 2007
Location: Hyderabad
Posts: 418
Thanks: 307
Thanked 942 Times in 298 Posts
karthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to behold
Default Re: Two candle strategy

Quote:
Originally Posted by rkkarnani View Post
Kathik, Please check 2 black bars at around 12:10 and 12:15 ! Do they qualify for trades? Dont they meet the criteria? Unable to pin point the candle time as I dont have intraday LT chart ?
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
Reply With Quote
The Following 5 Users Say Thank You to karthik_sri For This Useful Post:
augubhai (3rd October 2013), rkkarnani (1st October 2013), sangi79 (11th November 2013), Shantala (1st October 2013), XUV-500 (4th October 2013)
  #33  
Old 1st October 2013, 08:56 AM
Member
 
Join Date: Jul 2007
Location: Hyderabad
Posts: 418
Thanks: 307
Thanked 942 Times in 298 Posts
karthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to behold
Default Re: Two candle strategy

Quote:
Originally Posted by Vertigo_1985 View Post
this can be coded easily, have you tested it through afl too ?
I dont have programming knowledge! I have not tested with AFL
Reply With Quote
  #34  
Old 1st October 2013, 09:01 AM
Member
 
Join Date: Jul 2007
Location: Hyderabad
Posts: 418
Thanks: 307
Thanked 942 Times in 298 Posts
karthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to beholdkarthik_sri is a splendid one to behold
Default Re: Two candle strategy

Quote:
Originally Posted by Aarav11 View Post
Even the 2 black candles of 11.40 and 11.45 also qualify for the setup. Right Karthik?
Yes Aarav...that also qualifies...

http://i.imgur.com/fGoqHxn.png
Reply With Quote
The Following 4 Users Say Thank You to karthik_sri For This Useful Post:
augubhai (3rd October 2013), novicetraders (1st October 2013), Shantala (1st October 2013), XUV-500 (4th October 2013)
  #35  
Old 1st October 2013, 10:07 AM
Happy_Singh's Avatar
Member
 
Join Date: May 2013
Location: Here & Now :)
Posts: 968
Thanks: 1,343
Thanked 1,982 Times in 732 Posts
Happy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond repute
Default Re: Two candle strategy

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
Reply With Quote
The Following 12 Users Say Thank You to Happy_Singh For This Useful Post:
augubhai (3rd October 2013), burai123 (2nd October 2013), Gandhar. (1st October 2013), guptak03 (1st October 2013), karthik_sri (1st October 2013), narayan78 (1st October 2013), novicetraders (1st October 2013), Shantala (1st October 2013), shruti.trader (1st October 2013), traderindian (6th October 2013), VJAY (1st October 2013), yrjadeja (1st October 2013)
  #36  
Old 1st October 2013, 10:18 AM
Member
 
Join Date: Sep 2012
Posts: 1,902
Thanks: 700
Thanked 1,341 Times in 582 Posts
Vertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud of
Default Re: Two candle strategy

Quote:
Originally Posted by karthik_sri View Post
I dont have programming knowledge! I have not tested with AFL
ok..i will test when i get time and let you know the results...
Reply With Quote
The Following User Says Thank You to Vertigo_1985 For This Useful Post:
karthik_sri (1st October 2013)
  #37  
Old 1st October 2013, 10:24 AM
Happy_Singh's Avatar
Member
 
Join Date: May 2013
Location: Here & Now :)
Posts: 968
Thanks: 1,343
Thanked 1,982 Times in 732 Posts
Happy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond reputeHappy_Singh has a reputation beyond repute
Default Re: Two candle strategy

Quote:
Originally Posted by Vertigo_1985 View Post
ok..i will test when i get time and let you know the results...
Hi

I believe its not going to be so straight forward

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

Anyway looking forward to your tests

Cheers

happy
Reply With Quote
The Following 8 Users Say Thank You to Happy_Singh For This Useful Post:
augubhai (3rd October 2013), karthik_sri (1st October 2013), mastermind007 (2nd December 2013), narayan78 (1st October 2013), rkkarnani (1st October 2013), Shantala (1st October 2013), Vertigo_1985 (1st October 2013), XUV-500 (4th October 2013)
  #38  
Old 1st October 2013, 10:31 AM
Member
 
Join Date: Feb 2012
Posts: 194
Thanks: 299
Thanked 158 Times in 79 Posts
kumudhan has a spectacular aura aboutkumudhan has a spectacular aura about
Default Re: Two candle strategy

what about stoploss?
Reply With Quote
  #39  
Old 1st October 2013, 10:38 AM
Member
 
Join Date: Sep 2012
Posts: 1,902
Thanks: 700
Thanked 1,341 Times in 582 Posts
Vertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud ofVertigo_1985 has much to be proud of
Default Re: Two candle strategy

Quote:
Originally Posted by Happy_Singh View Post
Hi

I believe its not going to be so straight forward

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

Anyway looking forward to your tests

Cheers

happy
i know a lot of filters would be needed but he hasn't mentioned any yet..maybe he can now...
Reply With Quote
The Following User Says Thank You to Vertigo_1985 For This Useful Post:
augubhai (3rd October 2013)
  #40  
Old 1st October 2013, 12:29 PM
Member
 
Join Date: Nov 2012
Location: Hyderabad, TELANGANA.
Posts: 268
Thanks: 1,069
Thanked 362 Times in 157 Posts
Purushotham is just really nicePurushotham is just really nicePurushotham is just really nicePurushotham is just really nice
Default Re: Two candle strategy

Quote:
Originally Posted by karthik_sri View Post
Yes Aarav...that also qualifies...

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

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.


Reply With Quote
The Following 2 Users Say Thank You to Purushotham For This Useful Post:
augubhai (3rd October 2013), sangi79 (11th November 2013)
Reply

Bookmarks


Advertise Here


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads for: Two candle strategy
Thread Thread Starter Forum Replies Last Post
Candle setting XUV-500 AmiBroker 3 10th August 2013 03:31 PM
how to set cursor on last candle? hmsanil AmiBroker 10 19th February 2012 05:58 PM
Colored candle SRJC AmiBroker 0 23rd May 2011 08:48 AM
Candle NOT touching EMA sanjeevbhatia MetaStock 11 27th February 2011 10:09 PM
Candle close AFL gansal AmiBroker 0 11th September 2010 12:36 AM


All times are GMT +5.5. The time now is 08:37 AM.

Indemnity, Disclaimer & Disclosure Notice:
By visiting Traderji.com you automatically indicate that you agree to our Forum Rules, Indemnity, Disclaimer & Disclosure Notice and General Content Disclaimer Notice and indemnify Traderji.com, its associates and related parties of all claims howsoever resulting from the usage of the forum/site.
Disclaimer: Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate enquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any advertisement published here. Traderji.com does not vouch for any claims made by the advertisers of products and services. Traderji.com will not be held liable for any consequences in the event such claims are not honoured by the advertisers. Traderji.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of any information by anybody mentioned anywhere on this site.
Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy or legality of any information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. Although we constantly delete all irrelevant content and/or SPAM, if you should find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
 


Copyright © www.Traderji.com 2001 - , All rights reserved.

Recommended Websites - www.TradersEdgeIndia.com - www.TradingPicks.com - www.MasterOfTrading.com

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247