Download the zone, P4 L Clock and works perfect. I notice when the London opening. you can see in the photo that it. when it turn on, i trade fast 28 pips.
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Free lunch mentality 6 replies
DIBS Method EA 10 replies
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Been reading this thread for past few days and have gained a lot of valuable insights. Like to contribute back.
I have updated the DIBS indicator to include configurable indications of opening hour and number of trading hours from open.
Hope you will find it useful for your backtesting/trading.Ignored
Its hard to say with that screen shot as it doesn't give anyone any indication of what has happened before, the trend, and bias, what time it occured (Tokyo, London, US (early, late etc).
An inside bar is best when it breaks in the direction you are looking for within the first few bars. A break on the opposite end that travels some distance nulls most inside bars HOWEVER it there is a strong daily bias, if the retracement was back to a level of solid support and their was room to the upside, if there were other factors that are playing into a...Ignored
If I am allowed I would like to share with you some of my thoughts.
We all here discuss one of the best ever trading method - DIBS. Not system, but method. Why not syste - becuase if it would be already a rigid system - we wouldn't discuss it here, ok?
For me the first question is always this - "what is the strenght of the method, what does make this method profitably, what is the power of the method?"
Hope - you could answer this questions easy - The power of DIBS method is in its RISK:REWARD RATIO!...Ignored
I guess ons and dibs doesn't pay like it used toIgnored
Just to add a picture to my previous post.
Look at the white lines which was broken some time ago. What happens next? - Market had solid moves those times. (market with arrows). Now look we have another breakout some days ago. Would the big move happen this time again? - I do not know. But I know that the possibility of the move is there. So - if I get an Inside Day - I would take it.Ignored
hi, is it necessary to check the range of an insidebar? by saying the ib shouldbe max 25 % of the previous candle.
No, there is no need to check the range of IB. Consider IB's just like price consolidation on lower timeframes.
... and don't do mistake by trading IB's during stalling market period.
Trade unbalanced markets.
Once you have unbalanced market in hands - those IB's entries should make you some pips.
[font=Arial]The M15 approach I use is similar to if not exactly the same as “DIBS,” but it is profitable and it is consistent. The entry and stop are the same, but instead of using the 6 a.m. GMT price as the buy/sell line for the day, I use the 10sma. I prefer this due to my seeking higher sensitivity when using a smaller TF like M15. Long entries occur above 10sma, short entries are below 10sma. The other difference is that instead of targeting large R-multiple wins, I target from 1:1 to 2:1 (in most cases), exit, and then wait for the next opportunity....Ignored
Are trading ALWAYS THIS SYSTEM? THANKSIgnored
There are not enough setups each day to trade only inside bars exclusively. I trade other strategies, one of which is the "Type 2" strategy discussed by my friend 60minuteman over in the Buy Sell Line Trading thread.
Words to the wise: About 96% of all strategies are either breakout, pullback, or reversal. Most are pullback. Figure out which of the three best suits your personality and then decide whether you prefer to use indicators or pure price action. This will help you categorize all of the systems you look at, and will better help you...Ignored
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