Hi
I would just like to interject...... There is a group of us (roughly) sixty members of Orange Rashan (the orginator of SRDC) trading SRDC 1 method live using Teamspeak, which is the foundation of Maria77 adaptation. Not only are we trading this method but also SRDC 1 plus a far superior method. I ask humbly that if your going to program any fom of code using SRDC method please give credit where credit is due. Teacher Roshan is a humble but effective teacher not only of this method but others. Believe me they are highly profitable. I,m not new to this game, and he has shown me why my method was failing and how the game is really played by the big boys. In his words the market is "So predictable." He gives of his knowledge for free. I have been using SRDC 1 for many months. Initial target is 5 pips only with 30 pip stop loss. You may think this is crazy R:R but if i use his words when S/R break they break baby !!!!!!!! So with practice you achieve much more. I will leave you a copy of his method. Those of you wishing to join our group are most welcome. You can p.m and I will forward details of how to connect to Teamspeak.

May the pips be with you

Attached Files

SRDC1-ORposts.pdf (729.8 KB, 455 views)

Thanks islandhome. I've actually posted that I've derived from SRDC (read posts from other forums) if you read my earlier thread. However, not only that I derived from it, but also from Igrok theory of entering a trade at the open price.

Thanks I will take a look at the pdf. Never did I know got such a big team working on SRDC!

Maria,

Did you review the new version of the indicator?

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http://www.mqldev.com

Hi mqldev,

With your latest inclusion of the current candle open price, it is a very good add-on. Thanks.However, it takes more to treat the open price as the support/resistance. Because depending on the daily range of a currency pair for eg GBP/USD, it is about 130 pips distance between the high and low of a daily candle while the EUR/USD is about 80 pips. So using the open as an entry would have to depend on the candle formation of the day.

Thanks for the newly updated indicator. I like that. It would be good enough for manual trading at the moment.

Hi.

Well, Maria can have used the method you describe for her ideas but I don´t.

As I can read in your attachment my ideas are a little different as you can confirm in my previous post.

For me:

Support is when the bears where rejected finally, not the lowest price.
Resistance is when the bulls where rejected finally, not the highest price price.

My focus is only the bulls/bears battle and all that means.

And according with this simple two rules the orders must be set in two ways:

For a bullish candle buy at the high, sell at the open.
For a bearish candle, sell at the low, buy at the open.

There are exceptions, no trading rules and reversals options.

Spread is not to take in count. Only the broker behavior is important.

Without forgive somebody thought a similar approach If I have to credit
someone is to Steve Nison.

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mqldev:

could you include 2 more lines with and option to set x pips from support and resistance lines or and option to set the S/R x pips above/below?

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Hey Linuxuser,

Is this the book by Steve Nison you are talking about? I might considering buying it. Thanks!

Maria,

I have two indicators which, both added to the chart, can give u a clear view. Also backtesting shouldn't be a problem with these.

It is a good approach to make some extra pips on the side. I been trading it long.

Hope they of some use to u.

Attached Files

	DayOpen.mq4 (2.4 KB, 263 views)
	TZPivots_test.mq4 (5.5 KB, 248 views)

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Take care,
Sulz.

Hi

http://www.amazon.com/Beyond-Candles...885797-9738838

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Hi Low - Open Close CANDLES indicator created by cja http://www.forex-tsd.com/152533-post27.html