I managed to get in but jumped out at the spike down. Be interesting to see how this one pans out. Would be nice to see/ understand the creation of the boxes( I'm not great at indi's) so as to gauge how close to an exit we may be. good luck all
wow. so there we go. I missed out some, but respect to the strategy and mer.
The method how this indicator works is easy. You can put in any number you want in this indicator. It will draw a red box above the candle, if the high of this candle is also the high of the last x periods. So if you put in 300, and a red box comes up, it means, that the high of that candle is the high of the last 300 periods, also. Vice versa for the blue boxes
So, still think news events hurt??? 13 trades taken, all in profit. Thank you GBP Construction PMI!
Just remember, they all don't work out like this every time.
Trade 1= +24 pips
Trade 2= +23 pips
Trade 3= +26 pips
Trade 4= +25 pips
Trade 5= +27 pips
Trade 6= +27 pips
Trade 7= +31 pips
Trade 8= +29 pips
Trade 9= +37 pips
Trade 10= +37 pips
Trade 11= +38 pips
Trade 12= +41 pips
Trade 13= +86 pips (+43 pips X .02 lots)
Total= +451 pips
(By the way, if your keeping track since post 1, that's +948 pips in the last 5 trading days)
If we could code the indicator to give an alert when a new box is created, that would help as a first step into automating i guess....
Maybe a eintDepht3 bigger to reduce the trades.
I tried 825 and it sounds good
I will come up with something tonight after work if anyone else have not worked on it by that time...
an alert would be nice. I'm getting a bad neck from leaning over whilst in bed. (I'm assuming it isn't beeping or anything, sound has to be low so I don't wake the kids)
I know this very well, I use a similar approach on GBP but using different filters.
What happens when it goes bad? I believe the OP (Scott?) has been using this for a while, I have scrolled back and eyeballed it and as you have said there a re a few dodgy days in there. On 1m would it be safe to assume even on very strong moves on higher TF that mess it up there is nearly always an exit opportunity on 1m. Ive seen some that clearly may have resulted in loss but offsetting the better distanced trades make it nearly not as bad as it could have been. How have the losses been? anything catastrophic where you've had to step in with discretion?(lack of exit box)
GBPUSD [M1 Chart]
TP set at the Daily Open so a few less pips than what the blue box would have yielded but I am not complaining!
Only took 17 trades [live]
Trade #1 28.2 pips
Trade #2 24.1 pips
Trade #3 23.9 pips
Trade #4 21.0 pips
Trade #5 20.5 pips
Trade #6 18.2 pips
Trade #7 18.2 pips
Trade #8 18.0 pips
Trade #9 17.8 pips
Trade #10 16.0 pips
Trade #11 15.0 pips
Trade #12 14.8 pips
Trade #13 13.5 pips
Trade #14 12.7 pips
Trade #15 12.5 pips
Trade #16 11.0 pips
Trade #17 10.0 pips
Total pips = 295.4 pips!
Note: missed 4 of the higher short entries which would have made a big difference and my TP was set at 1.55830 but the result is still great.
In keeping with mers wishes, I've attached an AN chart on the 1hr tf. (For my method, there is no prime start time, and no pair preference, I rely on bisection...see previous charts for explanation.)
The result in my case captured two orders before I closed out.
I have several other pairs cooking at present on h4 applying same principal....very relaxing
I like to tp after 4 boxes btw on my method, which means I keep control...most of the time there are at least 6 - 8 boxes on the t/fs that interest me, and I like to take the lions share off the table early, which this strategy allows me to do, but as said, I won't go into too much detail as per mers request.
Excellent trading btw mer and the rest of you guys on the 1 min trades, but personally I don't want to be stuck in front of the computer every minute waiting for that box to appear or not, it would send me crackers lol.
Anyway heres my chart
I believe in simple is always best so i use stochastic to aid my decision making.
Trade #1 - 19.9
Trade #2 - 7.9
Trade #3 - 9.5
Thanks a lot mer
this happened because of the AUD red news i guess.. do you have any other trade results Landline?
I'm not being funny, but why should you worry about what his $ per pip is whatever that means. His lot size tells you the equation anyway. Surely your only interest is your own trading account, and as mer has quite rightly stated previously it is down to individuals to determine lot size and frequency of orders according to their own account size and appetite.
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