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Daily / Intraday Bias Trading

  • #21
  • Jun 27, 2023 2:59am Jun 27, 2023 2:59am
Quoting FireScape
these setups looks scary, narrow range infinitely more accurate right? {image} {image}
This looks like a good bullish set up of 50 ema interaction with daily open line. Price has passed through 50 ema and open line from below and confirmed by PSAR.
https://www.forexfactory.com/attachm...l?d=1687832287

and vice versa for below:

https://www.forexfactory.com/attachm...l?d=1687832309
  • #22
  • Jun 27, 2023 3:01am Jun 27, 2023 3:01am
Quoting FireScape
Is this bullish on CADJPY {image}
Agree nice example of narrow open range and bullish bias, supported by PSAR and 50 ema. Still bullish 10 hours on from open (UCT time).
  • #23
  • Edited 3:35am Jun 27, 2023 3:09am | Edited 3:35am
Quoting cpfleger
Ronin, I hope you do not mind me modifying your concept a little bit and I hope you can see my results. I removed the 50 EMA and PSAR MTF and replaced with a better setting PSAR that does not need any EMA. I await your comments. cpfleger {image}
We will also look at the suggestions by cpfleger regarding multiple trade enter on a narrow open range day; after the basics are clear and others have noticed the issue with this category of trade to overcome.......
  • #24
  • Edited 6:31am Jun 27, 2023 3:13am | Edited 6:31am
Quoting Ronin-
Lets continue with the first category of the narrow open range with an open narrow range dashboard. Due to the ongoing lack of conversation / constructive feed back, it seems I'm mostly writing to myself, all indicators now have an expiry date of one week. There is a lot of downloading but hardly any conversation. {file}
The narrow open range dashboard is just a basic version, there are filters to be added to confirm a narrow open range day. As every market has a narrow open range to start with. We are looking for days when the narrow open range is confirmed.......
  • #25
  • Jul 4, 2023 4:47pm Jul 4, 2023 4:47pm
Ronin,
Still a happy customer.
cpfleger
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  • #26
  • Edited 5:25pm Dec 11, 2023 4:59pm | Edited 5:25pm
The interaction of price with the daily open has always interested me; as this maybe considered as the starting point for the daily expansion of price. To take this concept further I have turned to volatility with regard to the daily open price. The picture shows volatility bands in relation to the daily open.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 18 KB
  • #27
  • Edited 5:22pm Dec 11, 2023 5:07pm | Edited 5:22pm
Anyone see the trade entry points......

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 24 KB

Expansion and contraction.....

The Daily Open Volatility Indicator is still being tested to see if worth sharing. In essence it is a Shewhart Chart or Statistical Process Control Chart (SPCC).
SR Direction is another of my indicators.
  • #28
  • Dec 15, 2023 12:31am Dec 15, 2023 12:31am
Quoting Ronin-
The interaction of price with the daily open has always interested me; as this maybe considered as the starting point for the daily expansion of price. To take this concept further I have turned to volatility with regard to the daily open price. The picture shows volatility bands in relation to the daily open. {image}
Hi ronin,
I have tried and study this DO indicator, For lower timeframe, I think we should find the way to avoid
xinitial.
Attached Image (click to enlarge)
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  • #29
  • Dec 15, 2023 1:31am Dec 15, 2023 1:31am
Quoting xinitial
{quote} Hi ronin, I have tried and study this DO indicator, For lower timeframe, I think we should find the way to avoid xinitial.{image}
Agree. There are a few ways to avoid the low volatility area. These include:

1) ADR value, I remember a trader stating they would not start to trade until ADR was equal to greater than 30 pips for example.
2) Similarily could use ATR set to say period 40.
3) Renko block chart or renko jp candle chart
4) A pip block grid using the daily open as zero.

H1 10 pip grid example:

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 10 KB


M5 10 pip grid example:

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 13 KB
  • #30
  • Dec 15, 2023 1:55am Dec 15, 2023 1:55am
If we look at M5 EURUSD Chart we can see that price has crossed the open line multiple times and so price is ranging at present. No clear direction.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 26 KB
  • #31
  • Dec 15, 2023 2:12am Dec 15, 2023 2:12am
Quoting Ronin-
{quote} Agree. There are a few ways to avoid the low volatility area. These include: 1) ADR value, I remember a trader stating they would not start to trade until ADR was equal to greater than 30 pips for example. 2) Similarily could use ATR set to say period 40. 3) Renko block chart or renko jp candle chart 4) A pip block grid using the daily open as zero. H1 10 pip grid example: {image} M5 10 pip grid example: {image}
Great idea, I will dig this indicator deeper .
xinitial.
  • #32
  • Dec 15, 2023 2:16am Dec 15, 2023 2:16am
Aahhhh this is why ranging:

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 18 KB


Waiting for news

Attached Image (click to enlarge)
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  • #33
  • Dec 15, 2023 2:19am Dec 15, 2023 2:19am
Quoting xinitial
{quote} Great idea, I will dig this indicator deeper . xinitial.
Will post the daily open grid indicator once I have tidied up the code.

R
  • #34
  • Dec 15, 2023 2:21am Dec 15, 2023 2:21am
Daily Volatility Indicator can be found here:

https://www.forexfactory.com/thread/...9#post14685969

However, post on thread regarding indicator. Thanks.
  • #35
  • Dec 15, 2023 2:24am Dec 15, 2023 2:24am
Quoting Ronin-
Aahhhh this is why ranging: {image} Waiting for news {image}
Hahahaha.... everyone waitting for big and fast move.
xinitial.
  • #36
  • Dec 15, 2023 3:00am Dec 15, 2023 3:00am
Example EURUSD M5 Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB


DO Volatility, Renko (10 pip block) on normal chart and open line 10 pip grid.
The lines give a 10 pip target minus spread / range to trade in.
Use JP candles for trading, but to show trades bars used
  • #37
  • Dec 15, 2023 3:03am Dec 15, 2023 3:03am
Or something like this:

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  • #38
  • Dec 15, 2023 3:19am Dec 15, 2023 3:19am
Another example on EURUSD M1:

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB

Use the DO bands to determine if price is expanding or contracting compared to the daily open line
  • #39
  • Dec 15, 2023 6:01am Dec 15, 2023 6:01am
Daily Open Grid Indicator as requested.

Example set to 10 pips:

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB
Attached File(s)
File Type: ex4 Daily Open Grid v2.ex4   27 KB | 233 downloads
  • #40
  • Dec 15, 2023 6:43am Dec 15, 2023 6:43am
Quoting Ronin-
Daily Open Grid Indicator as requested. Example set to 10 pips: {image} {file}
May be this indicator can give you an idea.
xinitial.
Attached File(s)
File Type: ex4 Daily Open line v MTF ADR levels v1 nmc.ex4   65 KB | 234 downloads
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