Three bar strategy

[Bewinner]

Hope attached image will give u right direction

Hi Johnyy and Vikas,
Please see the marked area in the image..Is it a valid condition?If yes then it is a failed case as it did not run?

 

[johnnypareek]

2nd candle has to be inside candle while in that its not.

Ya I edited that post please check.

johnny

 

[johnnypareek]

Hi Johnyy and Vikas,
Please see the marked area in the image..Is it a valid condition?If yes then it is a failed case as it did not run?

Buy was above High of that big bar, 196.80, and it was triggered and exit was below 197.80 as low of last bar violated. Please note this is Natural Gas chart which means I guess, 1 ruppe=1250. and hourly chart

johnny

 

[johnnypareek]

Okay

Here is interesting thing in Nickle Mar. Setup was short below 902 nex bar made made low of 901.70 so shorted and now it is 903.80. At this time SL is above high of setup bar no 3, 905.30. But if current bar goes above this I will keep my SL above 106.

 

[Bewinner]

Hi Johnnybhai and seniors,

I found another code on this 3 inside bar.

Cond1 = Close > Ref( Close, -1 ); 
Cond2 = High < Ref( High, -1 ) AND Low > Ref( Low, -1 ); 
Cond3 = Close < Ref( Close, -1 ); 

SetTradeDelays( 1, 1, 1, 1 ); 

Buy = Cond1 AND Ref( Cond2, -1 ) AND Ref( Cond1, -2 ); 
BuyPrice = Open; 
Short = Cond3 AND Ref( Cond2, -1 ) AND Ref( Cond3, -2 ); 
ShortPrice = Open; 

Sell = Cover = False; // exits only by stops

My question does this code work as the code seems confusing as it does not check whether 1st and 3rd bar have the same color or not...Could somebody verify?

 

[johnnypareek]

Okay

Here is interesting thing in Nickle Mar. Setup was short below 902 nex bar made made low of 901.70 so shorted and now it is 903.80. At this time SL is above high of setup bar no 3, 905.30. But if current bar goes above this I will keep my SL above 106.

Stop loss hit

 

[johnnypareek]

Hi Johnnybhai and seniors,

I found another code on this 3 inside bar.

Cond1 = Close > Ref( Close, -1 ); 
Cond2 = High < Ref( High, -1 ) AND Low > Ref( Low, -1 ); 
Cond3 = Close < Ref( Close, -1 ); 

SetTradeDelays( 1, 1, 1, 1 ); 

Buy = Cond1 AND Ref( Cond2, -1 ) AND Ref( Cond1, -2 ); 
BuyPrice = Open; 
Short = Cond3 AND Ref( Cond2, -1 ) AND Ref( Cond3, -2 ); 
ShortPrice = Open; 

Sell = Cover = False; // exits only by stops

My question does this code work as the code seems confusing as it does not check whether 1st and 3rd bar have the same color or not...Could somebody verify?

Yes, Its good, In this there on condition is must that bar no.2 should be inside bar.

 

[johnnypareek]

Well,


In last 25-27 years I have met peoples who select stocks at superb time. What the problem ,I found, is when to "SELL". In this case if profit booking trailing sl doing will be good.

 

[mangup]

Well,


In last 25-27 years I have met peoples who select stocks at superb time. What the problem ,I found, is when to "SELL". In this case if profit booking trailing sl doing will be good.

Can u pl advice a good method of trailing SL on daily & Intraday time frame from ur rich experience?

 

[johnnypareek]

Ya sure,

As per vikash low of last bar is SL. So say buy was triggered and we have entered in long trade, Immediate SL will be lowest low of setup.Generally it will be low of 3rd bar. Now as breakout given and price starts to move, we will keep our SL to previous bar low, If next bar don't make higher high we will not move SL to last bar low, means we will move up long SL if higher high is there.