BTCUSD, my candlestick indicator is presenting an entry point
Hi guys, this strategy is for those who trade STIXEX candlesticks. If you are not familiar with STIXEX, it allows you to place trades on whether the next candlestick will be red or green, its that simple. The interesting fact about candlesticks is that in the long run, there are always the same number of green and red candlesticks, regardless if the market is going up or down. So when the number of, for example, green candles rises above the mean (for example there are 55 green candles out of the last 100 candles), this gives us an opportunity to start placing trades on red candles in the anticipation that the number of red/green candles will revert back to the mean (50/50). And that’s what my simple indicator is showing at the moment, there are 55 green candles out of the last 100 candles. So now, every time when new red candle forms, I will place a trade that the next one will also be red. I will trade until I am up by 300% (STIXEX pays fixed 100% payouts on winning trades) or until red/green ratio of the last 100 candles goes back to 50/50 (50 red and 50 green candles out of the last 100). I will keep updating this post, so you can follow me along.
If you are not familiar with “color options”, ask me in the comments section or join a chat right here on tradingview - candle color options.
Please follow, like and comment !
If you are not familiar with “color options”, ask me in the comments section or join a chat right here on tradingview - candle color options.
Please follow, like and comment !
Comment:
Trade closed: target reached:
So, it took a while but I reached my goal of 300% profit. After my candle count indicator provided me with a signal to enter, I placed a trade every time red candle formed. I placed a trade not on a price move, but on the color of the next candlestick. So again, every time when red candle formed, I placed a trade that the next candle will also be red. As you can see, I had 12 winning and 9 losing trades, so my success rate was 57.14%, which was enough for me to make 300% profit (not including commissions).
So, it took a while but I reached my goal of 300% profit. After my candle count indicator provided me with a signal to enter, I placed a trade every time red candle formed. I placed a trade not on a price move, but on the color of the next candlestick. So again, every time when red candle formed, I placed a trade that the next candle will also be red. As you can see, I had 12 winning and 9 losing trades, so my success rate was 57.14%, which was enough for me to make 300% profit (not including commissions).
Comment:
As it always does, after I exited, the ratio of red green candles went back to 50/50.
As it always does, after I exited, the ratio of red green candles went back to 50/50.
