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Highest Open / Lowest Open Trade

  • #19,241
  • Jan 17, 2025 6:34pm Jan 17, 2025 6:34pm
Quoting Igumapips
{quote} It is a sell position so BE-15 cannot be loss
Perhaps there is more than one way to report results.

When I win, it is BE + the number of pips won.

A loss is BE - the number of pips lost.

Trade direction doesn't matter.

If you win a buy and then win a sell, it would be confusing to see BE + and the BE - both representing wins.

Was I the only one confused?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,242
  • Jan 17, 2025 10:51pm Jan 17, 2025 10:51pm
Quoting TooSlow
{quote} Perhaps there is more than one way to report results. When I win, it is BE + the number of pips won. A loss is BE - the number of pips lost. Trade direction doesn't matter. If you win a buy and then win a sell, it would be confusing to see BE + and the BE - both representing wins. Was I the only one confused?
This is what I am trying to say showing in the indicator
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  • #19,243
  • Jan 17, 2025 11:12pm Jan 17, 2025 11:12pm
Quoting Igumapips
Dear Mates, I took this trade setup in USDJPY, and I was stopped out at BE-15, but I want to know if I followed HOLO rules. It is not just to win or lose a trade but to see if you actually followed the rule because forex trading is not a gamble. If I win a trade, I go back to check if I actually followed the rules; the same happens if I lose a trade. My question is in the chart; please, mates, I want you to help me with the answer because I see the setup always. I might be interpreting it wrongly that was why I asked. One who ask questions, do not...
TooSlow,
This is my question.
This this pattern occur always.
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  • #19,244
  • Jan 18, 2025 1:44am Jan 18, 2025 1:44am
Quoting Igumapips
{quote} TooSlow, This is my question. This this pattern occur always. {image}
Waiting for Tooslow answer, to my understanding this is not an Holo trade because price didn't go up through the highest open and came back down from it.
PRice should open in the area within the 2 red lines in my badly modified image.
Let's wait for a confirmation from OP
Attached Image (click to enlarge)
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  • #19,245
  • Jan 18, 2025 4:51am Jan 18, 2025 4:51am
Quoting TooSlow
{quote} "when we are near or at daily ADR." What does that mean? "PRICE has to consolidate or start ranging" Isn't price always ranging or consolidating? 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.
when we are near or at daily ADR
When price moves away from daily open up and down and distance between daily high and low is let say 80% or more of average daily range

Isn't price always ranging or consolidating?
Price goes only up or down, time is what matters regarding consolidation/ranging.
  • #19,246
  • Edited 5:51am Jan 18, 2025 5:38am | Edited 5:51am
Quoting TooSlow
{quote} Keep going...

I think I'm beginning to understand.....

in post #18390 you gave me an idea of what to do.

I'll explain it in my own words:

- Take the low and high prices for a period of 4-12 days.
- Calculate the difference between them. This will be the ATR.
- Take the lowest and the highest ATR value from the selected range (4-12 days).
- Add the ATR to the price of the current day's opening.
- We get the price range, which will be the most probable price reversal point

Have I understood your hints correctly? Cheers!
  • #19,247
  • Jan 18, 2025 6:04am Jan 18, 2025 6:04am
Quoting TooSlow
{image} ChatGPT wrote a HOLO indicator showing the progression of the H1 highest and lowest levels for the day. {file}
Could you make such an indicator showing such levels of H4 and D1 for a week?
  • #19,248
  • Jan 18, 2025 7:59am Jan 18, 2025 7:59am
This is also very important for me.


Quoting Malkolm
{quote} I think I'm beginning to understand..... in post #18390 you gave me an idea of what to do. I'll explain it in my own words: - Take the low and high prices for a period of 4-12 days. - Calculate the difference between them. This will be the ATR. - Take the lowest and the highest ATR value from the selected range (4-12 days). - Add the ATR to the price of the current day's opening. - We get the price range, which will be the most probable price reversal point Have...
  • #19,249
  • Jan 18, 2025 10:20pm Jan 18, 2025 10:20pm
Quoting Igumapips
{quote} TooSlow, This is my question. This this pattern occur always. {image}
Follow the rules.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,250
  • Jan 18, 2025 10:26pm Jan 18, 2025 10:26pm
Quoting Malkolm
{quote} I think I'm beginning to understand..... in post #18390 you gave me an idea of what to do. I'll explain it in my own words: - Take the low and high prices for a period of 4-12 days. - Calculate the difference between them. This will be the ATR. - Take the lowest and the highest ATR value from the selected range (4-12 days). - Add the ATR to the price of the current day's opening. - We get the price range, which will be the most probable price reversal point Have...
Close...

Compare the current range to the ATR...

When would you expect price to retrace.?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,251
  • Edited Jan 19, 2025 1:57am Jan 18, 2025 10:28pm | Edited Jan 19, 2025 1:57am
Quoting Garry119
{quote} Could you make such an indicator showing such levels of H4 and D1 for a week?
It most likely is possible.

I prompted ChatGPT.

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

Above H4 and D1.

Below original H1 with H4 and D1 "X"s.

Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW1.png Size: 21 KB
Attached File(s)
File Type: mq4 HOLO_H4D1_TooSlow.mq4   8 KB | 342 downloads
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,252
  • Jan 19, 2025 1:44am Jan 19, 2025 1:44am
SUB

have green pips.
thank you TooSlow but/with Green Stepps.

Is there any indicator ? Already red many posts #1 and others. Didn't find anything.
A little beginner trader since 2006
  • #19,253
  • Jan 19, 2025 2:23am Jan 19, 2025 2:23am
Attached Image (click to enlarge)
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It was obvious to have the highest/lowest daily/weekly opens for the month. Thank ChatGPT. However one must know how to prompt it correctly.

Cheers!
Attached File(s)
File Type: mq4 HOLO_D1W1_TooSlow.mq4   9 KB | 351 downloads
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,254
  • Jan 19, 2025 2:25am Jan 19, 2025 2:25am
Quoting Naseri13
SUB have green pips. thank you TooSlow but/with Green Stepps. Is there any indicator ? Already red many posts #1 and others. Didn't find anything.
Mate, click on the attachment icon... the paperclip near top right of your screen and below your name (Scroll all the way up the page). You'll find the indicators and template there.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,255
  • Jan 19, 2025 3:51am Jan 19, 2025 3:51am
Quoting TooSlow
{quote} Close... Compare the current range to the ATR... When would you expect price to retrace.?
I will try to explain my logic and answer your question:

The price is either rising or falling. There is a 50% probability of either outcome

If ATR≥50%, the probability of a successful entry against the breakout will be higher, accordingly, it would be more logical to wait for ATR≥50%
  • #19,256
  • Jan 19, 2025 6:54am Jan 19, 2025 6:54am
Good day TooSlow. I have one question for clarification. AUDUSD for the past Friday 17.01.25. The price reached a minimum of 0.61739 according to my broker. On the next green candle I marked the points of the supposed entry with numbers 1,2,3 or 4. At what point do you enter? I myself trade conservatively and set point 3 for myself - 0.61852. TP 2R - 0.6283 At the close of the daily ADR. Thank you!
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  • #19,257
  • Jan 19, 2025 11:02am Jan 19, 2025 11:02am
Quoting Malkolm
{quote} I will try to explain my logic and answer your question: The price is either rising or falling. There is a 50% probability of either outcome If ATR≥50%, the probability of a successful entry against the breakout will be higher, accordingly, it would be more logical to wait for ATR≥50%
DO NOT CONFUSE POSSIBILITY WITH PROBABILITY.

The possibilities are price goes up or down or stays the same.

There is no probability in trading. However, there are statistics. Probability deals with the future. Statistics deal with the past.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,258
  • Jan 19, 2025 11:05am Jan 19, 2025 11:05am
Quoting BeeGold
Good day TooSlow. I have one question for clarification. AUDUSD for the past Friday 17.01.25. The price reached a minimum of 0.61739 according to my broker. On the next green candle I marked the points of the supposed entry with numbers 1,2,3 or 4. At what point do you enter? I myself trade conservatively and set point 3 for myself - 0.61852. TP 2R - 0.6283 At the close of the daily ADR. Thank you! {image}
If you want to learn HOLO, follow the rules until you master them. Then, if you still feel the need, make changes.

How many 10 trade challenges have you taken?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,259
  • Jan 19, 2025 11:24am Jan 19, 2025 11:24am
Quoting TooSlow
{quote} Если вы хотите изучить HOLO, следуйте правилам, пока не освоите их. Затем, если вы все еще чувствуете...
There have been a lot of transactions, and the same currency pair has been traded a maximum of twice in a row. I rarely trade currencies. Oil, gold, indices mainly.
  • #19,260
  • Jan 19, 2025 12:55pm Jan 19, 2025 12:55pm
Quoting TooSlow
{quote} DO NOT CONFUSE POSSIBILITY WITH PROBABILITY. The possibilities are price goes up or down or stays the same. There is no probability in trading. However, there are statistics. Probability deals with the future. Statistics deal with the past.
Duly noted, thanks Mate!

Am I correct in understanding that statically, if ATR exceeds 50%, it would be appropriate to enter against the breakout?
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