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Creating a Simple Daily Open Price Strategy EA

  • Post #1
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  • First Post: Sep 28, 2011 3:50am Sep 28, 2011 3:50am
  •  Jaquemate
  • Joined Nov 2010 | Status: Member | 498 Posts
Excuse my bad English.
This strategy is not mine, is based on thread “Building an equity millipede” of Mr.Graeme “PipEasy”. I am a humblestudentof his wiseteachings. I am eternally grateful.

I want create an EA with following rules:

 

  1. 1. First all we must determine the direction of the trade with this simple rule:

    1. a. "buy when price closes above the open price of previous down candle”. When a daily candle close above open price of previous down candle then we only take BUY orders.
    2. b. "sell when price closes below the open price of previous up candle". When a daily candle close below open price of previous up candle then we only take SELL orders.

  1. 2. Second time we search an area of entry:

    1. When 1.a occurs then every time a 4H candle close above open price of previous down candle and above daily open price we open a BUY order. No stop loss. We close all the buys orders when:

a. Current daily price closes below current open price (in losses).

b. First Daily price closes below open price (in profit).

    1. When 1.b occurs then every time a 4H candle close below open price of previous up candle and below daily open price we open a SELL order. No stop loss. We close all the sells orders when:

a. Current daily price closes above current open price (in losses).
b. First Daily price closes above open price (in profit).

There is no stop loss, drawdown could be large but I think this strategy could be profitable.

Anybody can help me?. Thanks.

That which you give to others, life will return it in spades
  • Post #2
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  • Last Post: Sep 28, 2011 8:55am Sep 28, 2011 8:55am
  •  porfirio
  • Joined Jul 2009 | Status: Member | 977 Posts
Hello compatriot .. I also am a follower of Pipeasy, I learned a lot from him.
you give it a private message to SteveHopwood is a "fiera" every day brings a new EA.

I also thought something similar when I read about this idea in the thread Pipeasy
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