Simple easy LOPEN strategy (eurusd) | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Easy Eyes (No Indicators) Simple Day Trading 200 replies

trading is simple - trading is easy 43 replies

Easy to use & simple position size indi needs to be fixed 0 replies

Simple and Easy System-only two indicators 14 replies

An Easy System (With the help of ES Trader - Another Simple System) 13 replies

Attachments: Simple easy LOPEN strategy (eurusd)
Exit Attachments

Simple easy LOPEN strategy (eurusd)

  • #21
  • May 21, 2021 3:56am May 21, 2021 3:56am
Quoting Georgevv42
{quote} sorry on what time frame are we talking about I am at GMT +2
So if you are using GMT+2 this way

Day open +3 hours
London Open
NY open +2 hours

Day open +3 hours -> London Open = range to check for HL

Day open +3 hours -> NY open +2 hours = to draw lines

London Open - > NY open +2 hours = trading time (waiting for price/ma cross any line)
Observer effect
  • #22
  • May 21, 2021 5:09am May 21, 2021 5:09am
Quoting ryuryu
{quote} So if you are using GMT+2 this way Day open +3 hours London Open NY open +2 hours Day open +3 hours -> London Open = range to check for HL Day open +3 hours -> NY open +2 hours = to draw lines London Open - > NY open +2 hours = trading time (waiting for price/ma cross any line)
This is really great explanation SUper thanks for your help. I understand now completely. :-)
  • #23
  • May 21, 2021 5:48am May 21, 2021 5:48am
Quoting ryuryu
{quote} I'm using ICmarkers broker, so London open is 10:00am, NY open is 15:00pm. I think it is GMT+3. Anyway Day open +3 hours = start point Day open +10 hours = end point to draw the channel then +10 - +16/17 = trading time {image}
Could you tell the name of this band indicator?
  • #24
  • May 21, 2021 6:33am May 21, 2021 6:33am
Quoting Hehehe
{quote} Could you tell the name of this band indicator?
Sorry what indicator?

I have tradingview and mt5.

On tradingview there are

1. Trade session by hpotter (to see where London start, where NY start etc)
2. ATR & ticker - my custom indicator, it shows pair name and spread.
3. Multi MA - by Madrid, it called MMAR (Madrid moving average). There are 20 moving averages, great to check the main trend direction.
4. Zones indicator - my custom one, it show daily open, previous day high/low, and can show zones using multiplier.

On MT5
1. Custom indicator, that have all the abilities. It show 3 MA, Stoch, MMAR, Reverse Candles, Crosses, MA order, Zones, envelopes, daily open, previous day H/L, swap checks, multi TF MMAR checks, ATR checks etc. And it use master pair for step calculations using ADR. It is very complicated one, it is a part of my EA.

If one interested I can share my tradingview scripts, but not MT5 one, because it is too complicated and I have no time to teach how to use it.

To use that strategy you can simply have all the indicators for free, just find some for your platform. There are 3 types used: trend (moving average), distance (adr/atr) and oscillator (stoch). And it also use pa (reverse candle).
Observer effect
  • #25
  • May 21, 2021 7:24am May 21, 2021 7:24am
@ryuryu - Thanks for your time to explain this strategy.
Is it possible to show a chart on USDCAD from today with the lines?
  • #26
  • May 21, 2021 7:25am May 21, 2021 7:25am
Quoting kofix11
@ryuryu - Thanks for your time to explain this strategy. Is it possible to show a chart on USDCAD from today with the lines?
Sure

Let's take a look

as you see here
1. Global trend is down (mmar are red)
2. Price is under 200 ma (green line)
3. Candle closed lower than Asian session low.
Attached Image (click to enlarge)
Click to Enlarge Name: 61ce47c2ecc903d47c49f289818036c2.png Size: 158 KB
Observer effect
  • #27
  • May 21, 2021 7:30am May 21, 2021 7:30am
Same but mt5 m1 tf

1. Multi mma 1h are red (top right corver)
2. swap direction is short (vertical lines are red)
3. MA 100 crossed down Asian low
4. Cross is under daily open

You can ask why we are not taking long cross? Because main direction is short, swap for short also bigger. So no longs allowed. Only short trades. Remember do not piss against the wind.
Attached Image (click to enlarge)
Click to Enlarge Name: 09c8e59acdcc523157b18673a4de7c5b.png Size: 78 KB
Observer effect
  • #28
  • May 21, 2021 8:38am May 21, 2021 8:38am
Quoting ryuryu
{quote} Sorry what indicator? I have tradingview and mt5. On tradingview there are 1. Trade session by hpotter (to see where London start, where NY start etc) 2. ATR & ticker - my custom indicator, it shows pair name and spread. 3. Multi MA - by Madrid, it called MMAR (Madrid moving average). There are 20 moving averages, great to check the main trend direction. 4. Zones indicator - my custom one, it show daily open, previous day high/low, and can show zones using multiplier. On MT5 1. Custom indicator, that have all the abilities. It show 3 MA,...
Hi ryuryu,
I think Hehehe (above post) is referring to your screenshots, number (6)-global trend
Probably is your multi MA indicator
Attached Image
  • #29
  • Edited 10:20am May 21, 2021 10:06am | Edited 10:20am
Quoting Matteorossi
{quote} Hi ryuryu, I think Hehehe (above post) is referring to your screenshots, number (6)-global trend Probably is your multi MA indicator {image}
It is Madrid moving average ribbon bar (MMARB), trader name Madrid. Search on tradingview for it. Very useful indicator.
BTW for MT5 there are mladen's indicator available. It is the same. It has not 20, but 50 moving averages! Also I have ported MMAR to mt4 and mt5. If you need it I can give you.
Observer effect
  • #30
  • May 21, 2021 12:23pm May 21, 2021 12:23pm
Quoting ryuryu
{quote} It is Madrid moving average ribbon bar (MMARB), trader name Madrid. Search on tradingview for it. Very useful indicator. BTW for MT5 there are mladen's indicator available. It is the same. It has not 20, but 50 moving averages! Also I have ported MMAR to mt4 and mt5. If you need it I can give you.
Yes please - on mt4
  • #31
  • May 21, 2021 1:12pm May 21, 2021 1:12pm
Quoting kofix11
{quote} Yes please - on mt4
pm me plz
Observer effect
  • #32
  • May 21, 2021 2:12pm May 21, 2021 2:12pm
Quoting ryuryu
Same but mt5 m1 tf 1. Multi mma 1h are red (top right corver) 2. swap direction is short (vertical lines are red) 3. MA 100 crossed down Asian low 4. Cross is under daily open You can ask why we are not taking long cross? Because main direction is short, swap for short also bigger. So no longs allowed. Only short trades. Remember do not piss against the wind. {image}
your strategy seam changed since early posts
  • #33
  • Edited 4:49pm May 21, 2021 4:07pm | Edited 4:49pm
Quoting Merka
{quote} your strategy seam changed since early posts
Hi Merka! Thank you for your reply.

It was: if London open + 1 hour later = same candle color = open the trade.
In fact it is not changed.
But I have added swap checks and main direction checks to let the entries be more accurate.

I think the the main idea of any market is to earn money. So if we can have some information about that we can use it. For example what are swap rates? Why, for example *usd must pay more for longs, but usd* for shorts? Because all *usd pairs rise and all usd* go down. So why not to follow?
Next. We have information about Asian HL. Why not to use it? We can draw fibo lines or just random ones. But Asian HL is local support and resistance. No magic, just physics.

So if we have main direction + swap rates + signal there is some positive expectation (probability). All we need is 51% (with fees and swaps and spread etc). Only 1% more and then the game starts to be interesting.

Last but not least. Trading systems are live. We must and we have to change them. And then we can get the good one.
Observer effect
  • #34
  • May 21, 2021 4:42pm May 21, 2021 4:42pm
Quoting ryuryu
{quote} Hi Merka! Thank you for your reply. It was: if London open + 1 hour later = same candle size = open the trade. In fact it is not changed. But I have added swap checks and main direction checks to let the entries be more accurate. I think the the main idea of any market is to earn money. So if we can have some information about that we can use it. For example what are swap rates? Why, for example *usd must pay more for longs, but usd* for shorts? Because all *usd pairs rise and all usd* go down....
Well said
Keep the good work going.
  • #35
  • May 28, 2021 8:10am May 28, 2021 8:10am
Here is the example form EURUSD.
As you see the trend was changing, so there were >50% maroon color then lime. And the candle was closed lower that Asian low.
Next day there were no trades.
Today, the trend was red, candle closed lower so it was very good short. First candle closed higher, but since the trend is red no longs allowed.
Attached Image (click to enlarge)
Click to Enlarge Name: f6363da077fc2b57bde6672c647bcad4.png Size: 58 KB
Observer effect
  • #36
  • May 28, 2021 8:14am May 28, 2021 8:14am
Now let's check GBPUSD

First trade was not good. Yes it was uptrend (lime), but the candle was very little and has a very big lower shadow. In fact I have entered that long and reverse double size in the middle (middle line between Asian H and L).

New trade was perfect. It was direction changed (green) and it was very good long.

Today it was very good short. Trend was changing (>50% maroon), and candle closed lower Asian session low.
Attached Image (click to enlarge)
Click to Enlarge Name: 50c42f41b8f6f0faf7321d6f17923599.png Size: 58 KB
Observer effect
  • #37
  • Edited 8:54am May 28, 2021 8:18am | Edited 8:54am
Let's check indices, for example DE30.

First day it was short using all the rules above, next day there were no trades, and today it was very nice long found.

Attached Image (click to enlarge)
Click to Enlarge Name: 05fa879412355ba453b3baf18a274484.png Size: 57 KB

P.S. I have to say that it is NOT working on crypto because there are no sessions. The day starts at +3GMT and there are 6 hours blocks. So if you want to trade crypto you have to change the settings.
Observer effect
  • #38
  • May 28, 2021 9:01am May 28, 2021 9:01am
Quoting ryuryu
Let's check indices, for example DE30. First day it was short using all the rules above, next day there were no trades, and today it was very nice long found. {image} P.S. I have to say that it is NOT working on crypto because there are no sessions. The day starts at +3GMT and there are 6 hours blocks. So if you want to trade crypto you have to change the settings.
Why not long the day in the middle as all was green?
  • #39
  • Edited 9:40am May 28, 2021 9:20am | Edited 9:40am
Quoting Merka
{quote} Why not long the day in the middle as all was green?
Because if the price stay in the Asian session range (and the middle like is the new "daily open", corrected), that mean that it is ranging market.
Check Gold today. There were no movements outside the box, so no trades. Or you will stuck inside. Ranging market is for accumulation. We don't need it. We have nothing to accumulate.

Attached Image (click to enlarge)
Click to Enlarge Name: 4cb950738a2a6de3a899c9c70da727c8.png Size: 54 KB


There were no trades on Gold for all the 3 days.

Now let's check gold on 1m TF:

Attached Image (click to enlarge)
Click to Enlarge Name: 8e3bab0f9205bb5be3e0c61b82fb7d47.png Size: 73 KB

Swap is for long, 1h was trying to change the direction. The only tradable setup here was reverse candle (long trade) till 50MA (red). Since 50MA didn't close the Asian Low (or High) there were no trade setups. It was 2 more setups (Sequences) found, first on Asian session - it was all 3 MA in correct order + arrow down. And the same setup on NY session. But they are not AAA setups, so it is too risky to take them.
Observer effect
  • #40
  • May 28, 2021 9:32am May 28, 2021 9:32am
Best example found on this week on accumulation and distribution it USDJPY:
Attached Image (click to enlarge)
Click to Enlarge Name: 9ac695cf4d3a16e4a4fa92e0d8690492.png Size: 74 KB


The main problem that we don't know the direction of distribution after the accumulation. So trading on accumulation phase is far more risky.
Observer effect
0 traders viewing now