Quad Candle System
QUAD CANDLE SYSTEM
The system is predicated round 4 by D1 candle formations with respect to the next:
a) 2 bullish candles adopted by 2 bearish candles seeking to go brief the market
b) 2 bearish candles adopted by 2 bullish candles seeking to go lengthy the market
ENTRY (Fundamental standards)
Enter brief after the Brief Quad Candle Sample (SQCP) has accomplished
Enter lengthy after the Lengthy Quad Candle Sample (LQCP) has accomplished
Because the set off for entry should happen after the shut of a day by day candle, remember to understand that this doesn’t recommend an entry within the early Asian commerce and certainly an entry could happen at any time throughout the the present D1 horizon.
A bonus of that is within the scenario the place a pullback happens permitting a dealer to get into the market at a ‘higher’ value.
The merchants reward to threat ratio might also be extra ultimate as a result of their SL will sometimes be shallower.
The drawback is that value doesn’t pull again and the dealer is left behind leading to a missed alternative.
It’s not advisable to enter too late right into a commerce however that is on the discretion of the dealer and in any case the TFs traded are larger making late entries a chance.
Different entry standards may even be mentioned because the thread progresses.
Usually positioned above or beneath the Quad Candle Cluster (QCC).
Mainly above or beneath the main swings.
Should be at the very least at a 1 to 1 ratio.
Decide the pips for the SL within the first place after which make the TP >= SL pips.
A ratio of at the very least 1 to 1 or higher is 2,3 or 4 to 1.
Chart construction, harmonic completions and Fibonacci ratios might also be used for potential TP ranges if most popular.
Trades could also be trailed because the dealer sees match.
Alternatively a dealer can use:
a) BE + some pips after value has moved favorably X_pips.
b) ATR indicator
c) MML indicator
d) Chart construction
e) 2 by D1 reverse coloured candles (in sequence) type anytime after commerce entry has been made
f) different strategies
Since this method applies HTF commerce setups some elementary evaluation could enter the thread and that is most welcome from all merchants.
This will probably be dependent upon the actions of the market on the traded instrument and the controls which might be put in place.
It’s not unlikely that some trades could run for a number of weeks!
Persistence is Key!
This technique is supposed to be quite simple to use.
The thought is to get into a protracted development and keep in there for a whole bunch of pips or so long as attainable and have your trailing cease take you out.
The dealer might want to train persistence and permit trades to run as a lot as attainable.
If a dealer makes a revenue on a commerce then they actually haven’t accomplished alot fallacious nonetheless, they could have foregone a higher alternative.
The Indicators (zip format could also be used later)
Added on Could 31 as follows:
Preserve an open thoughts and keep in mind the system seeks long run entries with a sometimes bigger pip rely.
If a dealer seeks very brief time period scalping kind trades then this thread is NOT for you.
Present respect to your fellow merchants and be conscious that that is a global group of merchants.
I don’t endorse the work of another individual or entity.
I do thank the coder(s) of the MML indicator and another coding which may be used on this thread.