Bettina's Journal

[immy]

Hi Dave,

Just in case you feel, there are to many, you can change prevBar to 2 or 3. This affects only point a ) : candle high must then be higher than the high ( low must be lower than the low ) of the 2 or 3 preceding candles.
Usually it catches the top/bottom candles also.


Bettina

Warning: Please understand that a slight change here could have catastrophic effects later. If you let the indicator check the low or 2nd or 3rd candle to the left, you've just effectively destroyed the concept. It is a 2 Candle Pattern.

[Dave]

Hi again, probably my error but nothing seems to happen when I apply the BDC indicator. Can someone else please have a go and let me know if it works for them? Thanks! (99% of IT problems are user error ) )

[Tomi]

Hi Dave,

Just in case you feel, there are to many, you can change prevBar to 2 or 3. This affects only point a ) : candle high must then be higher than the high ( low must be lower than the low ) of the 2 or 3 preceding candles.
Usually it catches the top/bottom candles also.


Bettina

Warning: Please understand that a slight change here could have catastrophic effects later. If you let the indicator check the low or 2nd or 3rd candle to the left, you've just effectively destroyed the concept. It is a 2 Candle Pattern.

Just a small comment that 2 candle BDC pattern occurs everywhere. In that sense training the eye for specific situation might be better solution: see impulse wave, see retrace, see new lower AIMS level (in up move), check if you see BDC in wave A or C. This is relatively easy to spot without indicator. Just my opinion! (sidenote: after reading Immy's journal I coded my own BDC indicator and using it right now but planning to get rid of it after eye is trained )

[Bettina]

Immy, ok, it's not my invention. I found the body of the indicator in Forex factory and changed it, but left the parameter. But no problem. Standard is the 2 candle indicator.

Tomi, yes, for me it's necessary to get an overview. There are many and I need to learn which are the important ones.

Dave, sorry, Can't see any problems. It should look like the picture below. It prints those thin white bars on the respective candle. Perhaps try to change colours or style, if your chart is somehow different.

Bettina

[immy]

Immy, ok, it's not my invention. I found the body of the indicator in Forex factory and changed it, but left the parameter. But no problem. Standard is the 2 candle indicator.

Tomi, yes, for me it's necessary to get an overview. There are many and I need to learn which are the important ones.

Dave, sorry, Can't see any problems. It should look like the picture below. It prints those thin white bars on the respective candle. Perhaps try to change colours or style, if your chart is somehow different.

Bettina

Thanks Bettina! Grant was looking for exactly something like this, but I talked him out of it saying, we want clean charts, and mark 1 eye ball should be enough to spot BDC's.

Grant: there you go! (We attract all that we really desire)

[Bettina]

immy,

"easily to spot" is relative. Depends on the personl capability of visual perception. Mine is very weak. I can easily and immediately get an overview about tables, figures, written text, but not on pictures.
I have to study every picture very intensively and deeply to understand, what it wants to tell me. That's one of the facts I have to cope with

Bettina

[Tomi]

immy,

"easily to spot" is relative. Depends on the personl capability of visual perception. Mine is very weak. I can easily and immediately get an overview about tables, figures, written text, but not on pictures.
I have to study every picture very intensively and deeply to understand, what it wants to tell me. That's one of the facts I have to cope with

Bettina

Hi Bettina, it was me who stated that. No worries and we are in the same boat. I'm using indicator at this moment also! The point was that after seeing retrace and new AIMS level, one know what to find and from what candle. So in that sense "easy" to spot. I'm using indicator until the eye is trained! Might take forever in my case

[Bettina]

BDC addition:
If someone wants to use it, but doesn't like so much white,
the colors 2 and 3 or those of the body. If you change that to something similar your candle color, e.g. DimGray, you will see only the white spikes.

[Bettina]

Struggling.
had -1.6 % in the morning and nothing from the Post NFP. I simply didn't see any of the trades.

The picture shows an example of my dilemma. Had PO set and removed it because of bearish BDC ( would have been filtered with a two candle high ).
Immy, I'm not sure, whether it's good to have BDC only as a two candle pattern. If you regard more, you really get only tops and bottoms. Is it your personal experience or simply Bill Williams ?

The week leave's me with a small +1.3 %, the January was -13.5 as always.
Bettina

[immy]

Struggling.
had -1.6 % in the morning and nothing from the Post NFP. I simply didn't see any of the trades.

The picture shows an example of my dilemma. Had PO set and removed it because of bearish BDC ( would have been filtered with a two candle high ).
Immy, I'm not sure, whether it's good to have BDC only as a two candle pattern. If you regard more, you really get only tops and bottoms. Is it your personal experience or simply Bill Williams ?

The week leave's me with a small +1.3 %, the January was -13.5 as always.
Bettina

I think you're complicating the simple concept. We want to spot Principle C and then we would use BDC as an entry signal. BDC in the opposite direciton I don't even see them. The long was valid. Plus you were taking fractal break so BDC whether bearish or bullish had nothing to do with your entry apart from this that you saw a PC pattern that was formed by a bullish divergent candle.
ps: "two candle high" this concept is invalid, BDC isa Two candle pattern, no 3 no 4, two candles. It shows that during those 2 minutes the buyers or sellers won the battle. thats all. BDC is an excuse to take advantage of PC pattern. The BDC you used to filter was also a doji type and very small candle and aims box was tight. Trend was clearly up, you should have gone long. but never mind, you're learning!

have a great weekend!
pps: please work on cleaning your charts!