Digamber Shankar PATIL's DSP Candle Stra
What is DSP (DIGAMBER SHANKAR PATIL) candle?
DSP candles are candles with a high impact during a specific period (bullish or bearish).
How to find DSP (DIGAMBER SHANKAR PATIL) candles?
Manual method: Attach the following indicators and templates to any chart (works for all currency pairs, stocks, commodities or any financial instrument).
Take a closer look at the candle length indicator and observe its horizontal axis (i.e. the zero line). If it's in the center (ie.. the +ve and -ve sides are equal), skip this diagram. But if not, then check where is it transferred? up or down. If up, find the largest bear candle; if down, find the largest bull candle. This candle is nothing but a DSP candle.
Automatic method: Attach the following EA (MetaTrader\experts) to the chart of any currency pair, stock, commodity or any financial instrument.
Please note : The above EA is only an indicator. It has not been tested with trading and is for analytical purposes only. It highlights the DSP candles with red vertical dashed lines and the buy/sell limits with yellow horizontal dashed lines. EA points go to magnetism.
How to trade DSP (DIGAMBER SHANKAR PATIL) candles?
Step 1: If the DSP candle is a bull candle, wait for any subsequent candle to close below its open price. Then, place a sell order.
Step 2: If the DSP candle is a bearish candle, wait for any subsequent candle to close higher than its open price. Then, place a buy order.
Step 3: Set your stop loss to the opening or closing price of the bearish or bullish DSP candle respectively. Take profit may vary depending on your trading pattern.
How to choose DSP (DIGAMBER SHANKAR PATIL) candle version?
Depending on your trading style, choose any of the versions below. It includes short-term (Turbo), medium-term (Classic) and long-term (Light) versions. The longer the time frame, the higher the profit percentage.
Time frame: 1 hour
Candles : 72
template :
Time range : 15 minutes
Candles : 96
template :
Candles : 60
template :
Export and Import: Make sure you select the correct time range for the attached template. (i.e. M5, M15 and H1 timeframes for Turbo, Classic and Light templates respectively)
: False signals may be generated when major news is announced. Keep an eye on the Forex news calendar. Since this is a reversal trade, be sure to check the position of the DSP candle on the chart. Do not trade a sell if the DSP bull candle is at the very bottom of the chart, similarly do not trade a buy if the DSP bear candle is at the very top of the chart.
Keep sharing your graphs and results! ! !
Good luck! ! !
DSP candles are candles with a high impact during a specific period (bullish or bearish).
How to find DSP (DIGAMBER SHANKAR PATIL) candles?
Manual method: Attach the following indicators and templates to any chart (works for all currency pairs, stocks, commodities or any financial instrument).
Take a closer look at the candle length indicator and observe its horizontal axis (i.e. the zero line). If it's in the center (ie.. the +ve and -ve sides are equal), skip this diagram. But if not, then check where is it transferred? up or down. If up, find the largest bear candle; if down, find the largest bull candle. This candle is nothing but a DSP candle.
Automatic method: Attach the following EA (MetaTrader\experts) to the chart of any currency pair, stock, commodity or any financial instrument.
Please note : The above EA is only an indicator. It has not been tested with trading and is for analytical purposes only. It highlights the DSP candles with red vertical dashed lines and the buy/sell limits with yellow horizontal dashed lines. EA points go to magnetism.
How to trade DSP (DIGAMBER SHANKAR PATIL) candles?
Step 1: If the DSP candle is a bull candle, wait for any subsequent candle to close below its open price. Then, place a sell order.
Step 2: If the DSP candle is a bearish candle, wait for any subsequent candle to close higher than its open price. Then, place a buy order.
Step 3: Set your stop loss to the opening or closing price of the bearish or bullish DSP candle respectively. Take profit may vary depending on your trading pattern.
How to choose DSP (DIGAMBER SHANKAR PATIL) candle version?
Depending on your trading style, choose any of the versions below. It includes short-term (Turbo), medium-term (Classic) and long-term (Light) versions. The longer the time frame, the higher the profit percentage.
DSP Candle Strategy ( Light )
Time frame: 1 hour
Candles : 72
template :
DSP candle strategy (classic)
Time range : 15 minutes
Candles : 96
template :
DSP candle strategy (Turbo)
Time range : 5 minutesCandles : 60
template :
Export and Import: Make sure you select the correct time range for the attached template. (i.e. M5, M15 and H1 timeframes for Turbo, Classic and Light templates respectively)
: False signals may be generated when major news is announced. Keep an eye on the Forex news calendar. Since this is a reversal trade, be sure to check the position of the DSP candle on the chart. Do not trade a sell if the DSP bull candle is at the very bottom of the chart, similarly do not trade a buy if the DSP bear candle is at the very top of the chart.
Keep sharing your graphs and results! ! !
Good luck! ! !
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