3 Consecutive High Low Method - MT4/MT5 Resources

Welcome to everyone who is tired of cluttered charts and is interested in trading "pure charts" in 5M Charts

As I asked for the metrics for my method, I wanted to share this method with everyone.

News

27/3/2013 : FXDayTrader_ shared an indicator @ my request post ( Continuous HL Alert Indicator for us to add sound alerts and arrows )

26/3/2013: Zhdev shared an indicator @ post 18 ( az HHHLs LLLHs.ex4 ) where we can modify the pattern size and number of candles.

26/3/2013: Poluchik shared an indicator @ post 9 ( 3 candles ) which for us also showed other patterns and almost all 3 consecutive bar patterns.

Thank you for viewing this topic. Thanks to the members above for providing the metrics and the members in this thread for giving me more ideas.
As What Favorites said we might do a dashboard in the future that combines the best of the above metrics.

background

I started trading Forex in 2009 and like many of you I tried all the "systems" in FF, "fishmen", "mummypips", "fxTSD", maybe they don't suit my style, none of them work for me. All fancy indicators, messy charts, MA, RSI, STOXX, pivots, Fibonacci, traffic lights, MTF (fuck...f)... OMG, a lot of you are Forex millionaires and get 100% hit rates when using the above stuff, but I... just couldn't find anything that worked for me... Then I used my own methods, my own risk management, respecting the 1% rule, and I'm still alive after four years, which of course is probably mostly due to randomness and luck.

I've lived, I've loved, I've lost, I've paid my dues in Forex, and Forex trading remains my favorite activity in the world.

rule

I mostly trade 5M EU during the US session, and three consecutive high/low bars are my guide for trading.

Below is the EU 5M chart for March 24, 2014 for illustration.

Minimum requirements

1. Body of “3 bar” >~20 pips (for EU)

2. The closing price of the second bar is higher than the closing price of the first bar, and the closing price of the third bar is higher than the closing price of the second bar. (Bull market)
The closing price of the second bar is lower than the closing price of the first bar, and the closing price of the third bar is lower than the closing price of the second bar. (Bear market)

#If the 3 candles have long bodies and small wicks (~<20% of the entire candle), the best effect will be
#There is no inside line. Doji, star, cross... I want to see momentum, not hesitation.

Timeframe and Currency : 5M EU Chart

Conference : United States session

Entry : 3 consecutive high/low bars (the total size is over 20 pips. Of course 20 pips is just a guide, it means different currencies have different parameters, we all know that)

Stop Loss : Top/Bottom of the first bar.

Taking Profits : No matter what level you want, that’s the art of this trading “game” right? You can set targets, pattern stops, use moving averages, r/s, I recommend trailing stops which I will show later.

In fact, it's just a very simple trick and I'm not going to convince anyone because we know it's just some kind of classic pattern, all I did was modify it a little bit and use it as a guide in a very short time. For this method, the pattern itself is not the most important. We all know that there are many 3 consecutive rising or falling bars, 3 white soldiers, 3 bull blocks, etc. in the entire chart. We only need to "limit" it when its size is greater than a certain level. We need motivation! ! ! ! ! ! I will show more charts in the future, and I hope you can join if you are interested. Thank you!