Three bar strategy

[VIKAS 21]

shorted at point 1 ( resistance level) due to our pattern & covered at point 2 near support level.

 

[bapan123]

shorted at point 1 ( resistance level) due to our pattern & covered at point 2 near support level.

sir,
are these support resistance levels are calculated using previous day's high,low,close?
what is the difference when we trade a scrip in future and same scrip in equity?

 

[bapan123]

i select manually...

sir,
manually which conditions help you to select the stocks to trade next day?

 

[asnavale]

SOME PROBABLE CANDIDATES (CASH SCRIPS) FOR GOING LONG BASED ON 3-BAR STRATEGY:


ABAN

AMTEKAUTO

BALMLAWRIE

DELTACORP

ORBITCORP

TATASTEEL

-Anant

 

[Vertigo_1985]

Hope this is plotted arrow like u wanted

_SECTION_BEGIN("Price");

GraphXSpace=5;
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) Vol " +WriteVal( V, 1.0 ) +" {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 )) ));
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() ); 
up=4969;
dn=4952;
//Plot(up,"UP Break",5,8);
//Plot(dn,"DN Break",4,8);


_SECTION_END();






// Inside bar
Buysignal1 = (Ref(L,-1) >= Ref(L,-2)) AND (Ref(H,-1) <= Ref(H,-2));


// 1st and third candles Bull candle
Buysignal2 = (Ref(O,-2) < Ref(C,-2)) AND ( Open < Close);

//2nd Candle bear candle
Buysignal3 = (Ref(O,-1) > Ref(C,-1));

// Buy when inside bar, 1st and 3rd bar green

Buy = Buysignal1 AND Buysignal2 AND Buysignal3 ;

//Condition for plotting Buy if its true
//PlotShapes( IIf( Buy,shapeUpArrow + shapePositionAbove , shapeNone ), colorGreen);

// SHORT TRADE

ShortSignal1 = (Ref(L,-1) >= Ref(L,-2)) AND (Ref(H,-1) <= Ref(H,-2));

// 1st and third candles Bear candle
Shortsignal2 = (Ref(O,-2) > Ref(C,-2)) AND ( Open > Close);

//2nd Candle bull candle
Shortsignal3 = (Ref(O,-1) < Ref(C,-1));

Short = Shortsignal1 AND Shortsignal2 AND Shortsignal3 ;
//PlotShapes( IIf( Short,shapeDownArrow , shapeNone ), colorRed );
PlotShapes(Buy * shapeUpArrow,colorGreen, 0,L, Offset=-10); 
PlotShapes(Short * shapeDownArrow,colorRed, 0,H, Offset=-10);

/////////////////////

Thanks Johnypareek,
That did the work .

 

[Vertigo_1985]

Hi Vikas,
I have been checking this system for 15 min Tf in various scrips. In the image attached (HDIL) there is one buy and one short signal. How will you manage your targets and trailing stop loss if any ?

 

[VIKAS 21]

Hi Vikas,
I have been checking this system for 15 min Tf in various scrips. In the image attached (HDIL) there is one buy and one short signal. How will you manage your targets and trailing stop loss if any ?

Dear u hv marked the wrong trades.....

No trade there as per three bar strategy...

 

[Shailu]

friends any one can tell with example buying rate target rate and stoploss rate with 2-3 different charts in simple manner. till now i didnt understand it properly.

 

[vinst]

Hi,

Nifty fut , 30 min chart.
Bar numbered alternatively to aviod clutter.
bar 1 is bar ending 15:00 on 8-mar
bar 3 is bar ending 9:30 on 11-mar
bar 5 is bar ending 10:30 on 11-mar

Bars 1,2,3 make Vikas 3bar pattern with IB. 1st and 3rd bar are bullish, middle bar is IB and bearish. It could be a reversal pattern since it comes near resistance.

bars 2,3,4 make another 3bar pattern with bearish implication (middle bar has higher high). So i guess both patterns imply bearishness.
please refer to chart and give your comments about correctness of patterns.

click on picture for full size view.

 

[Vertigo_1985]

Dear u hv marked the wrong trades.....

No trade there as per three bar strategy...

Hi Vikas,
are you talking about entries ? entry is on next bar of arrow if it crosses high or low...
where am i going wrong ? can you point out please ?

Regards