Mt4 brokers do not report uniform pricing. He could have easily had a larger range than your or my chart had ... We are only talking about a couple of pips... It happens all the time...
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DislikedMt4 brokers do not report uniform pricing. He could have easily had a larger range than your or my chart had ... We are only talking about a couple of pips... It happens all the time...Ignored
DislikedExactly
So candle one starts at 4GMT candle two at 5GMT candle tree at 6GMT and candle four starts at 7GMT (8am GMT+1 London market open) and closes one hour after the market open.Ignored
DislikedYes, but he only measures three candles. The box encloses four candles. The first candle to the left is not measured.Ignored
DislikedSorry to keep bringing up this subject, but I have read several versions of times to use with the indicator. The original plan posted by Eagle was 5 to 8 GMT, then it was changed to 6 to 9 GMT, and finally I saw that 4 to 7 GMT.
I did a comparison of the three and it is my opinion that 04:00 to 07:00 GMT gave good results (with least amount of false signals). It seems logical being that it reflects activity immediately before the start of the London session.
May I ask for your comments? If we all use the same inputs and verify the results then we can say if this really is a winning system or if the past few months have been "luck".
ThanksIgnored
DislikedEagle-
You show a 12 pip range from the bottom of the box to the low of the next candle. I show 10.Ignored
DislikedHe entered 2 pips before the bottom of the box
Mine is 3 pips on that pair and on several othersIgnored
DislikedYes the way I see it you use the 3 hours before the market you are trading open with the last candle one hour before open. So for London open you use 4am to 7am while the market open at 8am.
I think a simmilar argument will apply for other markets, adjust you time according to the open of the market you trade.
RegardsIgnored
DislikedI wrote a EA for a system that was similar to this one a year ago.
I can modify it and post here if anyone wants it, so it will run under these rules... The thing is, I do not want to maintain it, nor do I want to answer a bunch of questions about how do I load and use an EA.
I would be happy to upload the source code and anyone is welcome to modify it or change it as they see fit.
If I were you I would still use the indicator by eagle for the graphics, because this Ea does not have graphics it just places the trades at the correct time.
Does anyone want me to post it?Ignored
DislikedYes the way I see it you use the 3 hours before the market you are trading open with the last candle one hour before open. So for London open you use 4am to 7am while the market open at 8am.
Ignored
DislikedThe system DOES look to be a little more profitable with the last candle measured being the one BEFORE the London open.... Interesting...
Maybe I'll do some backtesting tonite to see if this is true...Ignored