GU breakout of 7.45 and 8.00 bar traded for 5 pip. I traded GJ also for 7.45 breakout.
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Some stats:
Duration stats collection: 2021-06-23 to 2022-12-02. Thats much back my broker can load on M15. I got 295 trades where 8:15 bar breakout 8:00 bar.
Count of profit and loss trades per bar close
DislikedI collected some stats on GU M15 8:00 bar breakout UK time. I defined a strategy (below) and then collected stats. I wanted to study the momentum of breakout at London open. My aim is to minimize manual intervention i.e. discretion factor as much as possible. Strategy: Chart and TF: GU M15. Main candle = 8 to 8.15 bar. Next1 candle = 8:15 to 8:30 bar; Next2 candle = 8:30 to 8:45 bar; Next3 candle = 8:45 to 9:00 bar; Next4 candle = 9:00 to 9:15 bar. Wait for GU M15 8:00 bar to complete. This is main candle Place a buy order 1 pip above high of main...Ignored
Disliked{quote} that is brilliant work! so in shorts words the best result is to keep the trade as short as possible and then close it at 08-30 london time at the latest?Ignored
Disliked{quote} yeh, thats very simple strategy. More pips can be made if you try to close near highs/lows of breakout candle. Or BE the trade if it comes back to entry after X pips in profit. But all these need to be analysed by collecting stats.Ignored
DislikedI collected some stats on GU M15 8:00 bar breakout UK time. I defined a strategy (below) and then collected stats. I wanted to study the momentum of breakout at London open. My aim is to minimize manual intervention i.e. discretion factor as much as possible. Strategy: Chart and TF: GU M15. Main candle = 8 to 8.15 bar. Next1 candle = 8:15 to 8:30 bar; Next2 candle = 8:30 to 8:45 bar; Next3 candle = 8:45 to 9:00 bar; Next4 candle = 9:00 to 9:15 bar. Wait for GU M15 8:00 bar to complete. This is main candle Place a buy order 1 pip above high of main...Ignored
DislikedI collected some stats on GU M15 8:00 bar breakout UK time. I defined a strategy (below) and then collected stats. I wanted to study the momentum of breakout at London open. My aim is to minimize manual intervention i.e. discretion factor as much as possible. Strategy: Chart and TF: GU M15. Main candle = 8 to 8.15 bar. Next1 candle = 8:15 to 8:30 bar; Next2 candle = 8:30 to 8:45 bar; Next3 candle = 8:45 to 9:00 bar; Next4 candle = 9:00 to 9:15 bar. Wait for GU M15 8:00 bar to complete. This is main candle Place a buy order 1 pip above high of main...Ignored
Disliked{quote} thanks for sharing - this is excellent! Could you please share this Indi for stats collection?Ignored
Disliked{quote} I can share the indi, but that wont help. Crux is in the filter, slice-dice, analysis done post data collection. Moreover every strategy will require its own code.Ignored
Disliked{quote} Thank you for your response - in future I would suggest you say you won’t share the indicator - no need to be condescending.Ignored
DislikedI collected some stats on GU M15 8:00 bar breakout UK time. I defined a strategy (below) and then collected stats. I wanted to study the momentum of breakout at London open. My aim is to minimize manual intervention i.e. discretion factor as much as possible. Strategy: Chart and TF: GU M15. Main candle = 8 to 8.15 bar. Next1 candle = 8:15 to 8:30 bar; Next2 candle = 8:30 to 8:45 bar; Next3 candle = 8:45 to 9:00 bar; Next4 candle = 9:00 to 9:15 bar. Wait for GU M15 8:00 bar to complete. This is main candle Place a buy order 1 pip above high of main...Ignored
Disliked{quote} Wow that's some remarkable legwork right there, thanks for sharing! So closing it at the end of the entry candle seems like the best course of action, right? Were you using MT4 to load the data? Because there are some ways to add downloaded data in MT4. (But if you're using another platform nevermind )Ignored
Disliked{quote} If you coud find stats for Dax (GER30) 00:00-04:00 break. TP Fib 50%, stop loss candle close opposite of the range. normally i do a fib retracement of the range and add postions at 38 and 61. but im sure this is hard to backtest.Ignored