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Highest Open / Lowest Open Trade

  • #18,721
  • Dec 31, 2024 12:49pm Dec 31, 2024 12:49pm
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On the above H1 chart, the markers show the highest and lowest H1 opens each hour.

Do you see the HOLO opportunities?


Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,722
  • Dec 31, 2024 12:51pm Dec 31, 2024 12:51pm
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“Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame.
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden

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Do you need anything else?


"Perfection is not when you have nothing more to add, but when you have nothing more to take away." - Antoine De Saint Exupery

"It is not about adding on, but taking away. The less technique, the better you are." - Bruce Lee


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Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,723
  • Dec 31, 2024 3:23pm Dec 31, 2024 3:23pm
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That's it for 2024, Mates.

Cheers.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,724
  • Dec 31, 2024 9:12pm Dec 31, 2024 9:12pm
Quoting TooSlow
{image} That's it for 2024, Mates. Cheers.
Happy New Year, TooSlow!!
  • #18,725
  • Jan 1, 2025 4:29am Jan 1, 2025 4:29am
Quoting TooSlow
{image} ChatGPT wrote a HOLO indicator showing the progression of the H1 highest and lowest levels for the day. {file}
Tooslow, this HOLO indicator showing the progression of the H1 highest and lowest levels for the day. I added the indicator and I understand it when I open H1 time frame but switching over to smaller time frame like M5, it appears so many times.
Kindly look at it.
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  • #18,726
  • Jan 1, 2025 9:22am Jan 1, 2025 9:22am
Quoting Igumapips
{quote} Tooslow, this HOLO indicator showing the progression of the H1 highest and lowest levels for the day. I added the indicator and I understand it when I open H1 time frame but switching over to smaller time frame like M5, it appears so many times. Kindly look at it. {image} {image}
Look at the levels on your H1 chart. Then look at the levels on your M5 chart. Are they the same?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,727
  • Jan 1, 2025 9:28am Jan 1, 2025 9:28am
Quoting Igumapips
I added the indicator and I understand it when I open H1 time frame but switching over to smaller time frame like M5, it appears so many times. Kindly look at it.
short lines in m5 appear as only one dot in the h1 tf (if you look closely/zoom in, you will see the dot at the open of the h1 candle)
Muni loves you all!
  • #18,728
  • Jan 1, 2025 9:47am Jan 1, 2025 9:47am
Hi everyone, I have spent time coding an MT5 EA (I chose MT5 for various reasons, but the most important one is that it can perform proper backtests and debugging of EAs on historical data).
I had abandoned this EA for a while because it seemed to me that the EA was following the rules, yet it was still not profitable. However, I thought to give it one more chance by running it through this thread and getting it to work through a joint effort.

The compiled version is attached. It does not use any DLLs and can be considered relatively safe (in my opinion). However, I am willing to share the source in a somewhat limited manner. Suggestions, please... I am a strong believer that any publicly shared EA won’t work long-term.

Cheers and happy new year!
Attached File(s)
File Type: ex5 HoLoEA.ex5   50 KB | 173 downloads
  • #18,729
  • Jan 1, 2025 9:56am Jan 1, 2025 9:56am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,730
  • Edited 12:51pm Jan 1, 2025 12:31pm | Edited 12:51pm
Quoting biobier
Hi everyone, I have spent time coding an MT5 EA (I chose MT5 for various reasons, but the most important one is that it can perform proper backtests and debugging of EAs on historical data). I had abandoned this EA for a while because it seemed to me that the EA was following the rules, yet it was still not profitable. However, I thought to give it one more chance by running it through this thread and getting it to work through a joint effort. The compiled version is attached. It does not use any DLLs and can be considered relatively safe (in my...
Please read Post #1 and abide by this thread's rules:

Please do not discuss or mention EAs in this thread.
EAs are not welcome here.

EAs distract from the method.
You have been warned.

If you want to post code in this thread post the MQ4 files.
Posting only EX4 files is not welcome.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,731
  • Edited 1:19pm Jan 1, 2025 12:32pm | Edited 1:19pm
Lao Tzu, a Chinese Taoist philosopher, once said, “To attain knowledge, add things every day. To attain wisdom, remove things every day.” By stripping away the non-essential, we can become more in tune with our values and priorities.


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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,732
  • Jan 1, 2025 1:12pm Jan 1, 2025 1:12pm
Attached Image (click to enlarge)
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The M30 highest open will always be greater than or equal to the H1 highest open.
The M15 highest open will always be greater than or equal to the M30 highest open.

The M30 lowest open will always be less than or equal to the H1 lowest open.
The M15 lowest open will always be less than or equal to the M30 lowest open.

Did you know this already?
If not, why not?

What do these simple facts tell us about price?
What, if any, significance does the distance between these opens have?
How can you use this knowledge in your trading?

Attached Image (click to enlarge)
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Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,733
  • Jan 1, 2025 3:52pm Jan 1, 2025 3:52pm
Most Traders Take A Good System And Destroy It By Trying To Make It Into A Perfect One - PDF attached.

Cheers!
Attached File(s)
File Type: pdf Most Traders Take A Good System And Destroy It By Trying To Make It Into A Perfect One -.pdf   1.8 MB | 753 downloads
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,734
  • Jan 1, 2025 3:57pm Jan 1, 2025 3:57pm
1-2-3:

A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.

A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.

Let me rephrase in the form of yes/no or true/false questions.

1) Did a new daily high or new daily low happen during the previous bar. If YES/TRUE go to question 2, otherwise find another pair.

2) Did this bar test ( get near ) the new daily high or new daily low of the previous bar. If YES/TRUE go to question 3, otherwise find another pair.

3) Has price returned to the open price of the current bar. If YES/TRUE enter the trade in the direction price is crossing the open, otherwise do not enter the trade.

Sometimes a HOLO is a 123.
Sometimes a 123 is a HOLO.
That is why separate threads.

What is the actual difference? HINT: When can't you trade a HOLO and when can't you trade a 1-2-3?


"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.

"Perfection is not when you have nothing more to add, but when you have nothing more to take away." - Antoine De Saint Exupery

"It is not about adding on, but taking away. The less technique, the better you are." - Bruce Lee


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,735
  • Jan 1, 2025 7:26pm Jan 1, 2025 7:26pm
Quoting TooSlow
{image} The M30 highest open will always be greater than or equal to the H1 highest open. The M15 highest open will always be greater than or equal to the M30 highest open. The M30 lowest open will always be less than or equal to the H1 lowest open. The M15 lowest open will always be less than or equal to the M30 lowest open. Did you know this already? If not, why not? What do these simple facts tell us about price? What, if any, significance does the distance between these opens have? How can you use this knowledge in your trading? {image} Socratic...
If I understand what you mean, I used M30 Highest High and M30 Lowest Low to look for setup and this is what I saw but I don't think one can trade it because it is not H1 Highest High and H1 Lowest Low.
I noticed that M30 gave entry point faster than H1.
This is my observation.
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  • #18,736
  • Jan 1, 2025 7:30pm Jan 1, 2025 7:30pm
Quoting TooSlow
{image}
A belated Happy New Year to you TooSlow.
Look forward to another year of you answering the same questions to those finding this thread for the first time …
  • #18,737
  • Jan 1, 2025 8:25pm Jan 1, 2025 8:25pm
Quoting biobier
Hi everyone, I have spent time coding an MT5 EA (I chose MT5 for various reasons, but the most important one is that it can perform proper backtests and debugging of EAs on historical data). I had abandoned this EA for a while because it seemed to me that the EA was following the rules, yet it was still not profitable. However, I thought to give it one more chance by running it through this thread and getting it to work through a joint effort. The compiled version is attached. It does not use any DLLs and can be considered relatively safe (in my...
Thanks for the work you have done
according to you "I am a strong believer that any publicly shared EA won’t work long-term" Can you share why?
  • #18,738
  • Jan 1, 2025 11:01pm Jan 1, 2025 11:01pm
Quoting Igumapips
{quote} If I understand what you mean, I used M30 Highest High and M30 Lowest Low to look for setup and this is what I saw but I don't think one can trade it because it is not H1 Highest High and H1 Lowest Low. I noticed that M30 gave entry point faster than H1. This is my observation. {image} {image} {image}
Answer the rest of the questions. HINT: Use your eyes!

M30 open above H1 open...
If M30 is above its open, what does that indicate?
If M30 is below its open, what does that indicate?

See, don't think.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,739
  • Jan 2, 2025 12:21am Jan 2, 2025 12:21am
Quoting TooSlow
{quote} Answer the rest of the questions. HINT: Use your eyes! M30 open above H1 open... If M30 is above its open, what does that indicate? If M30 is below its open, what does that indicate? See, don't think. Cheers!
TooSlow, Help me with the answers.
Thanks and happy new year.
  • #18,740
  • Jan 2, 2025 1:40am Jan 2, 2025 1:40am
Thank TooSlow for sharing,
May i ask what timezone did you used to define 1D candle open?
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