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Highest Open / Lowest Open Trade

  • #18,101
  • Nov 11, 2024 9:20am Nov 11, 2024 9:20am
Quoting Igumapips
Please, help me me with a screenshot.
https://www.forexfactory.com/thread/...58#post9007658
https://www.forexfactory.com/thread/...57#post9007857
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  • #18,102
  • Nov 11, 2024 9:23am Nov 11, 2024 9:23am
Quoting MuniFX
{quote} yes always look for highest/lowest open of current day (no matter in which session it occurs), as stated in page 1 use the template..it will always show you the levels...
Thanks
Is this ok as the Lowest open?

I saw this thread yesterday and I want to understand everything about it.
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  • #18,103
  • Nov 11, 2024 9:28am Nov 11, 2024 9:28am
Quoting Igumapips
Is this ok at the Lowest open?
no the next candle.. marked H1[0] Open at 1.06426
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  • #18,104
  • Nov 11, 2024 9:37am Nov 11, 2024 9:37am
Quoting MuniFX
{quote} no the next candle.. marked H1[0] Open at 1.06426
Ok, thank you very much.
  • #18,105
  • Nov 11, 2024 9:59am Nov 11, 2024 9:59am
Quoting MuniFX
{quote} no the next candle.. marked H1[0] Open at 1.06426

Please MuniFX, asisit me this.
Thanks.
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  • #18,106
  • Nov 11, 2024 10:19am Nov 11, 2024 10:19am
Quoting Igumapips
{quote} Please MuniFX, asisit me this. Thanks. {image}
at the time the candle 1 opened .. it was the highest open
candle 4 made a NEW highest open and then candle 5 formed the highest open.. then 9 then 11(current highest open @153.845)
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  • #18,107
  • Nov 11, 2024 10:24am Nov 11, 2024 10:24am
if you use 15min as trigger than 7:30 7:45 (edited) was the sell ..with trailing stop.. this would have been a positive trade
Muni loves you all!
  • #18,108
  • Nov 11, 2024 10:25am Nov 11, 2024 10:25am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,109
  • Nov 11, 2024 10:27am Nov 11, 2024 10:27am
Quoting MuniFX
if you use 15min as trigger than 7:30 was the sell ..with trailing stop.. this would have been a positive trade

sry I meant 7:45 , I edited the previous post...
Muni loves you all!
  • #18,110
  • Nov 11, 2024 10:43am Nov 11, 2024 10:43am
Quoting TooSlow
{image}
Thanks
  • #18,111
  • Nov 11, 2024 10:44am Nov 11, 2024 10:44am
Quoting MuniFX
{quote} sry I meant 7:45 , I edited the previous post...
Thank you.
Noted.
  • #18,112
  • Nov 11, 2024 5:07pm Nov 11, 2024 5:07pm
Dear TooSlow, please, I want you to show me an example on how to move stop loss to Break Even + 1 pip when price moves in your favour by 5 pips.
Does it mean if Break Even is 1.06426 +1 = 2.06426 or 1.06427?
  • #18,113
  • Nov 11, 2024 7:39pm Nov 11, 2024 7:39pm
Quoting Igumapips
Dear TooSlow, please, I want you to show me an example on how to move stop loss to Break Even + 1 pip when price moves in your favour by 5 pips. Does it mean if Break Even is 1.06426 +1 = 2.06426 or 1.06427?
The move is 1 pip or 10 points.

1.06426 + 0.00010 = 1.06436.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,114
  • Nov 12, 2024 3:03am Nov 12, 2024 3:03am
Quoting TooSlow
{quote} The move is 1 pip or 10 points. 1.06426 + 0.00010 = 1.06436. Cheers!
TooSlow, Thank you so much.

One more question
I have installed the indicator you give out in the thread but I noticed that the indicator do not display past trades. So based on that one cannot back-test to the see the previous performance.

Why is it that the indicator does display past trading days like other indicators?
Thanks.
  • #18,115
  • Nov 12, 2024 6:43am Nov 12, 2024 6:43am
Quoting Igumapips
{quote} TooSlow, Thank you so much. One more question I have installed the indicator you give out in the thread but I noticed that the indicator do not display past trades. So based on that one cannot back-test to the see the previous performance. Why is it that the indicator does display past trading days like other indicators? Thanks.
Given the way this system operates you will need tic by tic data feed to accurately backtest. 1 minute minimum.
Trade it and feel it….
  • #18,116
  • Nov 12, 2024 10:39am Nov 12, 2024 10:39am
Dear TooSlow,

I am going through Thread "Trading is as simple as 1-2-3" because I want to take note of all you wrote down.
I observed that you always mention brown line. I did not understand it because from the indicator you gave out, I did not see brown line in my platform
Below are the colours that I have.
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  • #18,117
  • Nov 12, 2024 4:57pm Nov 12, 2024 4:57pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,118
  • Nov 12, 2024 4:59pm Nov 12, 2024 4:59pm
Quoting Igumapips
{quote} TooSlow, Thank you so much. One more question I have installed the indicator you give out in the thread but I noticed that the indicator do not display past trades. So based on that one cannot back-test to the see the previous performance. Why is it that the indicator does display past trading days like other indicators? Thanks.
You will have to ask the coder, SwingMan, that question.

The indicator does not display "trades". It displays the highest/lowest opens for the current day.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,119
  • Nov 13, 2024 7:10pm Nov 13, 2024 7:10pm
Dear TooSlow and my co-traders,
I want to appreciate you guys for your commitment to this TooSlow thread.
I am new here but I see this thread as a very good one.
Please, I have a question.
The first chart is GPYJPY (H1) image

After I have seen the highest High of the day that is the first candle, then I wait for the next candle to close. If the third candle open above the open of the second candle as I switch to Lower time frame like M15 or M5 can I place the trade position immediately I see higher high or wait for a pullback or retracement before I place the trade position as show in the second image?
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Click to Enlarge Name: screenshot.png Size: 37 KB
  • #18,120
  • Nov 14, 2024 3:45am Nov 14, 2024 3:45am
Quoting Igumapips
Please, I have a question.
the candle 2 open doesnt matter anymore, because candle 3 formed a new higher open (in the current day).
if the price goes above the candel 3 open (197.49) and comes back down again to the open, you put a sell.
in your case, the price never went back to the candle 3 open (see your 5min chart), candle 4 (next h1-candle) would have formed a new highest open.
Now you wait for the price to go above the candle 4 open (197.84) than if the price comes back down to the candle 4 open again, you put a sell (with Sl at the high of the day)
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