Suggestion 8 strange candle patterns

Hello Everybody

I read the favorite strategy

A couple of weeks ago. I've found a new 8 strange candle patterns that happens one time each day and it helps you to make at least 10 pips a day trying the method on 15 Pairs means 15 trades a day and 75 trades every single week!
so let's get started !
first of all. you don't need any indicators to apply. a clean chart on H4, D1 Time is enough (with a cup of coffee)
now let's take a quick look at the new patterns :



a little bit strange right ?. no problem , i will clarify everything now

Entry Rules :

NOTE* : before you try to trade these patterns, keep in mind that your entry will ALWAYS be on the 9'th candle each day

1 : once the 9'th candle is opened , check back for the last 3 candles and match the patterns with the picture above
2 : open a trade according to the picture and set a 10 pips TP and 10 pips SL (remember your SL level , you'll need it later)
3 : set a opposite pending order with x2 or x3 of your initial lot size and 10 pips TP and finally set your SL Below/Above your initial trade SL + 5 pips
4 : if your initial trade hit the TP then cancel the pending order

NOTE* : the main reason behind setting a pending order is that if the pattern hit your SL , it will move strongly the same way. so setting a opposite pending order will cover the losses and gain a profits


entry examples with pips calculation :


The same level of the SL of the first order? Or at the High / Low of the previous candle

If out of the first 3 candles at least 2 candles are blue it is buy at the opening of the 9th candle and if out the first 3 candles at least 2 candles are red, it is a sell at the opening of the 9th candle. Hope, I got you right?

EA back-tests would quickly prove or disprove the expected long-term profitability and safety of this clean Price Action strategy.

 

New pattern

 

Hi leenazen,
on wich timeframe do you put the EA (and wich pair) ?
Idea seems good but it needs backtest...

 

This is my review for this thread:
Excellent

 

Hi, thanks for sharing, I'm asking the indicators to prevent us from counting the candles?

 

nice

 

EURUSD H4, no trade in backtest. Why?

 

...Is both of the files in post #1 EA's? When attaching I got a popup that says: "hier". In english, what does this means?

 

Hier = Yesterday

 

Hmm... no OP on BT.

 

9th candle of the day means TF must be H1 not H4 or D1

 

Hi Leenazen
I think that there's something wrong with the EA. They are no SL and TP with Buy Stop and Sell Stop. Also do we need to close Buy Stop and Sell Stop manually every time Buy or Sell hits TP?

 

Kindly clear Time Frame if we set H1 then we get every day 9th No. candle and please clear also which broker is best for this becasue many broker have different time some start on 00.00 GMT and some start before 2 hours and some start after one or two hours so all broker have different 9th candle .