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DHR - Daily Half Range Strategy

  • #301
  • Oct 15, 2023 10:46am Oct 15, 2023 10:46am
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  • #302
  • Oct 15, 2023 9:44pm Oct 15, 2023 9:44pm
Hi,

Have you tried using the daily open as reference for the adr?
Trading is gambling. So gamble responsibly.
  • #303
  • Oct 16, 2023 1:13am Oct 16, 2023 1:13am
Sovy,
Others have tried the ADR Indicator if you read the entire Forum.
cpfleger
  • #304
  • Oct 16, 2023 4:05am Oct 16, 2023 4:05am
Quoting Sovy
Hi, Have you tried using the daily open as reference for the adr?
Hi Sovy,

The buy and sell trade line where attached the high and low of the day to be dynamic. By attaching to the daily open price it becomes a static system but may work, will give it a try. Find below a version based on Daily Open Price. Let me know how you get on.

Initial tests suggest the ADR has to be less than 50%

Attached File(s)
File Type: ex4 Daily Open Range Half Line v6.ex4   33 KB | 244 downloads
  • #305
  • Edited 4:54am Oct 16, 2023 4:23am | Edited 4:54am
Quoting Ronin-
{quote} Hi Sovy, The buy and sell trade line where attached the high and low of the day to be dynamic. By attaching to the daily open price it becomes a static system but may work, will give it a try. Find below a version based on Daily Open Price. Let me know how you get on. Initial tests suggest the ADR has to be less than 50% {file}
I kind of like it in the sense that it helps me with bias on dxy. Since if it will do as you say where 50% adr 10 then i know my pairs may go the opposing way because i trade usd pairs like euro, gbu and nzdusd.

Reason why i like the open as base because the open of the daily will always be the same. Hehe.

I will try the adr 10 daily open and then 50% value and see if i get a 5pip win and check the drawdown and see if i can use some pattern for entry

1. Euro +5 (today)
2. Friday no trade
3. Thursday +5
4. Wed trade
5. Tuesday +5
6. Monday no trade
7. Friday +5 either way
8. Thursday +5
9. Wednesday +5
10. Tuesday no trade
11. Monday +5
12. Friday +5
13. Thursday +5
14. Wednesday +5
15. Tuesday trade
16. Monday +5
17. Friday lost
18. Thursday lost
19. Wednesday +5
20. No trade

55 pips.

Depending on how you set the losses. If it is 20 then thar is 15 pips win for the past 20 days.
Trading is gambling. So gamble responsibly.
  • #306
  • Edited 4:59am Oct 16, 2023 4:45am | Edited 4:59am
Quoting Sovy
{quote} I kind of like it in the sense that it helps me with bias on dxy. Since if it will do as you say where 50% adr 10 then i know my pairs may go the opposing way because i trade usd pairs like euro, gbu and nzdusd. Reason why i like the open as base because the open of the daily will always be the same. Hehe. I will try the adr 10 daily open and then 50% value and see if i get a 5pip win and check the drawdown and see if i can use some pattern for entry
The win rate of the method is high. Unfortunately the problem is the larger SL which I have not been able to resolve. Open to suggestions.

The 50% region of ADR (10) seems to be an interesting place as price tends to reverse or run in a direction.

I am fond of this method as it is good for new traders. It teaches patience, reading the market and when to walk away and stop trading.

Happy to work together to improve if needed.
  • #307
  • Oct 16, 2023 5:05am Oct 16, 2023 5:05am
Quoting Ronin-
{quote} The win rate of the method is high. Unfortunately the problem is the larger SL which I have not been able to resolve. Open to suggestions. The 50% region of ADR (10) seems to be an interesting place as price tends to reverse or run in a direction. I am fond of this method as it is good for new traders. It teaches patience, reading the market and when to walk away and stop trading. Happy to work together to improve if needed.
How to solve the big stop loss? That may alter your method.

1. There's always the idea of support and resistance
2. Supply and demand.
3. Entering after liquidity sweep or knowing the high low or fvg may be the target.
4. Time based entry
5. But hey if your method works, it is already good enough and altering it probably will lower the gains.

I am a firm believer of less risk more reward. So, one simply needs the discipline. To not increase the lot size.
Trading is gambling. So gamble responsibly.
  • #308
  • Oct 17, 2023 4:47am Oct 17, 2023 4:47am
Quoting cpfleger
Sovy, Others have tried the ADR Indicator if you read the entire Forum. cpfleger
yes. I asked only since i wondered what if the open was used as base.
Trading is gambling. So gamble responsibly.
  • #309
  • Oct 17, 2023 4:47am Oct 17, 2023 4:47am
Another question, did you try using atr over adr?
Trading is gambling. So gamble responsibly.
  • #310
  • Oct 18, 2023 2:57am Oct 18, 2023 2:57am
Tried today, i almost got killed. I had to use some mgt to get iout of the drawdown. Key, i suppose is, your method helps if it goes with the trend.

Euro is bear and euro moved north 1/2 daily adr. I bougjt for 5pip win. It dove.

No regrets. It's my money. And having forward tested the method i love it.

I still ended up net positive, closing 2 losing trades with one having enough earnings for those 2 loses. And i made a 3rd which was a bear sell from above.

I suppose you suggest your method at ny time?
Trading is gambling. So gamble responsibly.
  • #311
  • Last Post: Oct 18, 2023 9:21am Oct 18, 2023 9:21am
The idea was to find the half way point of total price movement in a day from high to low.
Therefore we use the high and low of the day.
As we are unable to predict the half way point, I used the average of the daily range for the last 10 days and calcaulte what is half of ADR(10). Hence the 50% mark.
Testing showed this worked best.
ATR and ADR are the same just that ADR is atr set to a time frame of a day.

So we are waiting for the 50% of ADR to reached therefore there is no specific time just when the line has been touched. Whichever line is touched first determine if buy or sell. Only one trade a day.
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