Trading System Based on Monthly, Weekly, and Daily Opening Prices

And another mystery: a bearish orderblock on top and a bullish orderblock on the bottom. Where is there more liquidity?

The price broke through and closed above the M15 signal candle. I placed a limit buy order. Stop loss is below the low of the signal candle. A bit earlier, I entered with a small lot in the 15-minute OB.

The buy limit order was triggered. This is how the situation is unfolding so far.

### **Algorithm for Entering a Trade**
#### **1. Define the Weekly Opening Level**
- Identify the weekly opening level (the price level at the start of the trading week).
#### **2. Wait for Price to Break the Level**
- Monitor the price action to see if it breaks the identified level.
---
### **For a Buy Trade:**
1. **Price Break Condition**:
- The price must break the level **downwards**.
2. **Identify the Order Block Below the Level**:
- Look for an order block (a key liquidity zone) below the broken level.
- **Characteristics of the Order Block**:
- A bearish candle with **extreme volume**.
3. **Confirmation of the Break**:
- Wait for the price to **close above the high** of the bearish candle.
4. **Place the Buy Limit Order**:
- Set a **buy limit order** at the **high** of the bearish candle.
5. **Set Stop Loss**:
- Place the **stop loss** below the **low** of the bearish candle.
---
### **For a Sell Trade:**
1. **Price Break Condition**:
- The price must break the level **upwards**.
2. **Identify the Order Block Above the Level**:
- Look for an order block (a key liquidity zone) above the broken level.
- **Characteristics of the Order Block**:
- A bullish candle with **extreme volume**.
3. **Confirmation of the Break**:
- Wait for the price to **close below the low** of the bullish candle.
4. **Place the Sell Limit Order**:
- Set a **sell limit order** at the **low** of the bullish candle.
5. **Set Stop Loss**:
- Place the **stop loss** above the **high** of the bullish candle.
---
### **Exit Strategy:**
- **Take Profit Levels**:
- The next **weekly or daily level**.
- The next **order block**.
- The **midpoint of the imbalance** (fair value gap).
- A **risk-reward ratio of 1:2** (take profit at twice the distance of the stop loss).
---
### **Summary of Key Steps:**
1. Identify the weekly opening level.
2. Wait for a break of the level (down for buys, up for sells).
3. Locate the order block (bearish candle with extreme volume for buys, bullish candle with extreme volume for sells).
4. Confirm the break (close above the high for buys, close below the low for sells).
5. Place a limit order at the high/low of the order block candle.
6. Set the stop loss beyond the low/high of the order block candle.
7. Exit the trade based on the next key level, order block, imbalance midpoint, or a 1:2 risk-reward ratio.
---
This structured approach ensures a clear and systematic method for entering and exiting trades based on price action, volume, and key levels.

I closed me orders - i got what i need

tick volume differs from real volume, but it can still be a useful hint as to overall volume:

https://tradeciety.com/why-fake-volu...olume-in-forex

blam

This is a MT4 indicator for monthly, weekly. and daily opens with suggested inputs.

Tahnks a lot. bro! Have you same for MT5?

Unfortunately not. BTW solid and sound trading method you have shared.

I think so.
Some might be deterred by the fact that the weekly level is considered the primary one -it's seems too slowly. However, if you follow the Smart Money strategy, the main condition for smart money is big money. It is on the weekly and monthly levels where the major players operate, and the reactions there are strong enough. On cryptocurrency, these levels change quickly and easily, and the week changes on Sunday, with trading continuing non-stop. I’m not trying to convince everyone that crypto exchanges are great. After all, at any moment, such an exchange could disappear along with your money or become illegal. But as long as there’s an opportunity to trade, I’ll keep trading.

The price has entered the weekly imbalance zone, but as long as the daily and weekly highs (liquidation levels) have not been taken out, it might still be too early to sell. Perhaps one could try buying with a target at the weekly high, using a small position size. But where would the entry point be?

I could try buying at the level of 2818.63 with a target of 2902.61—the midpoint of the imbalance zone. However, this seems very risky to me—there are no clear levels, only targets.

A strange and unpleasant situation has occurred: Quotes have stopped updating on MT5, but on the Bybit website, the quotes continue to change. My buy position is currently in profit, but it's unclear what will happen to it next.

I closed my order and got +15% for depo.

Yesterday, there was a sale amid rumors of a Baibit robbery. I suspect it was "dirty manipulation" aimed at shaking out small buyers. I placed a buy limit in the order block zone with a target above.

The market has moved without me. Now, it might be worth looking for a selling opportunity.

I think the price will gather liquidity, drop below the daily and weekly opening levels, and then move upward from the order block. Almost all conditions are met, except for the volume. It's not the largest on the signal candle.

I spotted a sell order block. All conditions are met—buy-side liquidity has been taken out, there's increased volume on the signal candle, and the candle has been broken with confirmation. Risk 1:2. It's not ideal that the main liquidity above hasn't been taken out. I might have rushed into the sell. We'll see...

Go down!

The buy-side liquidity has been taken out. Now, the sell-side liquidity is being removed. I hit one stop-loss, but two other orders took profit. In total: +15% to the account. I canceled the buy order—it's unclear where the drop will end.
Analyzing the trades, I can conclude that for a successful outcome, one should only enter after liquidity has been taken out and an order block has formed afterward. Volumes serve only as confirmation.