(binned per thread starter’s request) A system to capture open

Quoting Erebus

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Riddle me this: if the bars are 15-mins and the vertical line is the open, then most of the trades you show are beyond 1.5 hours limit as per the rules - WHY? Also, define "the Open" is it the recognized open of the daily trading at 5 pm New York? That makes no sense to me, none of the major markets are trading, spreads are huge, anything can happen, please define the 1.5 hours session.

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Quoting Islandfx911

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This is a basic system that can be used to capture the market opening move. I have talked about this system before, it is nothing new. 5 SMA bands of high and low. Time frame is up to you. I use 15m but that is not firm. Rules for a BUY and SELL 1. Only place trades in the first 1.5Hrs of the market open 2. Price has traded outside the bands and closes off the high or low or closes as a thrust bar. 3. Enter on a close inside the bands. 4. Take profit at support and resistance levels. That's it. I will post a few charts, it' is up to you to explore...

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Quoting RiskFighter

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All markets or a specific one?

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Quoting Islandfx911

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{quote} My apologies, I should have been clearer regarding the opens. All the information on times I trade are on my other thread. Traders here know why I trade during these hours. I trade the Asian Session from 3.00 until 4.30 and 10.00 until 11.30 MT4 Terminal time. GJ spread is great at this time. {image}

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Quoting RiskFighter

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{quote} This will of cause work on all instruments, but are there any favorites? Let us see how the thread goes. At some point I could make an indicator which sends alarm to screen and phone at setups if there is interest for it.

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Quoting Erebus

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{quote} Hate to be a pain in the azz, but - 1 - this isn't the "other thread" 2 - MT4 terminal times is no use right now while markets closed, also, brokers still use different GMT offset, sometimes 2, sometimes 3. 3 - New York time can be used as a reference for every session, I'm guessing maybe the 3 to 4:30 is 8 to 9:30, so probably Tokyo open Just trying to set an indicator to highlight these sessions to be able to do a quick visual back test. Accuracy and full information is key when sharing a method, thanks.

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Quoting Islandfx911

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{quote} All markets. I will post my entries this week. Asian session pairs I will trade are AU, AJ, UJ, EA, GA, EJ and GJ. London Session pairs will mainly be GU and Dax, it just depend on what I see.

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Quoting Donsama

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"A small loss is a lesson A big loss is usually ego."

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Quoting axecap

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{quote} Nothing NZD on the asian?

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Quoting Islandfx911

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{quote} I don't trade Kiwi pairs as there is enough to trade in my current list. I will have a look at some NZ pairs now, I expect the entries will be similar. EN yesterday. {image}

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Quoting RiskFighter

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If you make an indicator / alarm it would need to be the following. 1. Session times - Asian Session 2.45 closed bar to 4.15 closed bar / London Session 9.45 closed bar - 11.15 closed bar. OK 2. Market has traded outside the band. OK 3. Price has closed inside the band. OK The problem you will have with the alarm is you need to place the trade on a close inside the band and the alarm may not give you time to place the trade. You may be able to have an alarm that is triggered when price has closed outside the band and then the alarm goes off when...

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Quoting Erebus

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Here's what I worked out so far. How would you play the close back inside but beyond the time limit? Is there serious back testing to create and justify the time limit criteria? {image}

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