Candle chaser

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Candle chaser

Postby leehan » Sat Feb 09, 2019 3:03 pm

HI

Im proposing a strategy whereby positions are taken in the direction of the candles colour.

I.e
candle is green, a long position is taken..

candle is red, a short position is taken..

if a candle changes colour the original position closes and a new one opens in the other direction.. it remains constantly following the candles colour..

options for

lot size, stop and limit etc would be great too

cheers

Lee
leehan
 
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Re: Candle chaser

Postby leehan » Mon Feb 11, 2019 7:00 am

Hi Apprentice

I installed that strategy over the weekend, its close but not exactly what i was looking to achieve.. I've tried all variations but the positions are taken on what the opening direction/colour of candle is and the trade remains in that direction.

I'm looking for something pretty simple that opens and closes positions based on the colour of the candle in real time as it changes..

Candle is red therefore the position instantly taken is short, candle then turns green so a long position is taken and the short position is closed. the strategy constantly trades in accordance to the candle colour in real time.

hope this makes sense

all the best

Lee
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Re: Candle chaser

Postby leehan » Tue Feb 12, 2019 4:36 am

As you can see in the photo.. the candle would have turned green so a long trade would have been taken. the trade is then cancelled when candle turns red and a short position is taken instead.. it looks to be profitable when on a longer time frame as there is less noise and fluctuation with the colour..
it may go green a couple of times but the profit each day would make up for the loss of spread used in the cancelled trade/s..
Attachments
Screen Shot 2019-02-12 at 07.35.04.png
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Re: Candle chaser

Postby leehan » Tue Feb 12, 2019 7:03 am

Cheers apprentice. its getting closer but its still not executing trades properly.. tested it on the m1 chart to check.. if you look at the candles they changed colour a few times in the other direction, however the existing trade wasn't closed and a new one taken in the other direction.. it would need to be consistent and continually trades in the direction of the candle colours for the strategy to work on longer time frames..

I've sent you a photo of the settings just in case that is stopping it from accepting trades..

best

lee
Attachments
Screen Shot 2019-02-12 at 09.56.34.png
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Re: Candle chaser

Postby leehan » Tue Feb 12, 2019 7:04 am

here are the settings
Attachments
Screen Shot 2019-02-12 at 09.57.09.png
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Re: Candle chaser

Postby leehan » Tue Feb 12, 2019 7:50 am

if you look at the very last candle, it should be trading short by now but the previous long trade is still i operation.. it seems like the strategy is confirming trades based on the opening colour of candle only..
Attachments
Screen Shot 2019-02-12 at 10.50.54.png
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Re: Candle chaser

Postby Apprentice » Tue Feb 12, 2019 8:12 am

Try it now.
Make sure to set "Prevent re-trade" to NO.
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Re: Candle chaser

Postby leehan » Tue Feb 12, 2019 8:25 am

Perfect.. thanks a million.. ill keep you posted on results ..
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