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Attachments: Strategy: Daily Range Spike and Pull Back
Exit Attachments

Strategy: Daily Range Spike and Pull Back

Thanks to cuongitl for the idea. Subscribed and will evaluate more.
I found a scanner with the current day's range here:https://www.forexfactory.com/thread/...scanner-alerts
It seems accurate from what I've seen so far. In the pic below I'm using the column "CurR". MQ4 attached also. If anyone has something better, a share would be appreciated. (Note this gives total daily range and not the candle body size, but it's at least an indicator of a possible entry after the body size is checked) Click on the pair to open your default chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Current Ranges.PNG Size: 34 KB
Attached File(s)
File Type: mq4 Multi_Pair_Average_Range_Scanner_Alerts_v1.1.mq4   37 KB | 376 downloads
Quoting since80808
{quote} Hi and thanks for the interesting strategy sharing! Is this dashboard indicator your author concept? Or may I download it somewhere?
That's an EA, a part of my project.
Quoting ze0202
{quote} Hey Cuongitl, based on the attached image from your first post, it seems your "Trailing stop" has been active. What settings are you using? Just started today testing your strategy. {image}
No, I just active BE+
Quoting iamalphamind
First of all thanks for sharing Cuongitl. Whether its success or failure only some do the sharing I have a few questions 1. If today's candle goes in our direction (Opp to yesterday's candle) you said take a trade between 5 to 50 pips. Do you trade any specific number I mean some times it even goes over 50 pips and then returns back if we take a trade at 45 pips then it changes direction (same like yesterday) means our DD raise much but if we took the same trade at 10 pips its is a winner at 25 PIps TP 2. is that fixed TP of 25 pips or do you Trail...
The rule #1 post is extremely clear and detailed, easy to understand. So, please read it carefully.
You can change the range from 5 ~ 50 by other, example: 5-20.. by you.
If you follow the rule, DD will be low.

MM is very important with this strategy.
Quoting cuongitl
{quote} No, I just active BE+
Ok, then how many Pips away from the OrderOpenPrice() to move OrderStopLoss() to BE?
Quoting ze0202
{quote} Ok, then how many Pips away from the OrderOpenPrice() to move OrderStopLoss() to BE?
12/2 or 15/3....by you
Quoting cuongitl
{quote} 12/2 or 15/3....by you
12/2 means 12 pips for 2 pips spread Symbols? Could you please explain?
The first try failed
Attached Image (click to enlarge)
Click to Enlarge Name: 91ad5b7ccc11a37b77bf514fa2378349.png Size: 63 KB
Quoting since80808
The first try failed {image}

I took the same trade and it was a winner, I just aim for approximately 25 pips per trade as the rules says.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.PNG Size: 61 KB
Quoting luis1moce
{quote} I took the same trade and it was a winner, I just aim for approximately 25 pips per trade as the rules says. {image}
Aren´t you signaled for scamming on another site? Hmmmmmm
@cuongtl I saw your posts on another thread and thought you were treated badly regarding your EA, stupid on his part, I think you have a lot to offer. I can't wait to check it out. Appreciate your new thread! Thanks.
Quoting WiPackFan
@cuongtl I saw your posts on another thread and thought you were treated badly regarding your EA, stupid on his part, I think you have a lot to offer. I can't wait to check it out. Appreciate your new thread! Thanks.
Thank you.
I hope this strategy will be profitable for you.
Do you plan on sharing your EA at some point, looks like you have put a lot of effort into it and appears to be working for you? If you want someone to test it and give you feedback, I would be happy to help.
Quoting WiPackFan
Do you plan on sharing your EA at some point, looks like you have put a lot of effort into it and appears to be working for you? If you want someone to test it and give you feedback, I would be happy to help.
If you have access 24/7 to internet via VPS and also on screen most of the time.
And you would like to partake in the testing of the strategy, please PM to get the EA.
I have three possible entries today. Long trades on GBPAUD, GBPCAD, GBPNZD. But they are all below the daily open from a gap up open.
[quote = cuongitl; 13246922] Hola a todos: Aquí tienes una estrategia que me ayuda a obtener más ganancias. 1 / Compruebe el rango de ayer (apertura-cierre) desde 80 pips arriba. 2 / Consultar pips de hoy: Precio desde la apertura diaria al precio actual (Bid / Ask) + Min: 5 pips + Max: 50 pips 3 / Operación abierta: - VENDER si ayer es vela alcista - COMPRAR si ayer es vela bajista Takeprofit: 20 -35 pips stoploss: 2 opciones opción 1: 20-25% del capital de la cuenta, no stop loss por pips / precio. Opción 2: marque de 5 a 10 velas diarias, luego coloque su stoploss por encima / por debajo de High / Low. 4 / si el precio va en contra de la dirección de la operación - Verifique los pips de distancia desde la primera entrada con Bid / Ask> = Rango de ayer / 2 o al menos 25 pips. - 2ª operación abierta con el mismo tamaño de lote (martingala de lata), sin precio tp. - Cierre todas las operaciones cuando Basket Profit> = 2 o más ... Rango de pips basado en el par de divisas, basado en barras diarias,https://www.mql5.com/en/market/product/57435 MM es muy importante con esta estrategia. Buena suerte. [/ Quote]


I just read the whole thread about what you contributed to your first post.
I find it interesting and I will try to develop it.
Thanks for your idea.
Quoting Backspin
I have three possible entries today. Long trades on GBPAUD, GBPCAD, GBPNZD. But they are all below the daily open from a gap up open.
The three long entries were winners. I am not taking trades yet. Just looking at chart histories to assess risk.
Today #opportunity

Attached Image


Keep going up...
Attached Image (click to enlarge)
Click to Enlarge Name: 7b48d0b3f5d90a343be0ca3fe599fbb6.png Size: 108 KB
Quoting Backspin
Thanks to cuongitl for the idea. Subscribed and will evaluate more. I found a scanner with the current day's range here:https://www.forexfactory.com/thread/...scanner-alerts It seems accurate from what I've seen so far. In the pic below I'm using the column "CurR". MQ4 attached also. If anyone has something better, a share would be appreciated. (Note this gives total daily range and not the candle body size, but it's at least an indicator of a possible entry after the body size is checked) Click on the pair...
This indicator is ADR, not related to my strategy.
I am clear about the entry rule that it has to be between 5 and 50 pips from the previous day's close.
But the doubt I have is that if once these 50 pips of the previous day's close have been surpassed, the instrument is already discarded for the day, or it is still usable if it returns to channel 5-50.
Thank you for your contribution.
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