I did take this signal on the USDJPY however. First Position hit TP target and second is still rolling.
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I think there is something wrong and not cleared for me here about entry price. At the moment, entry price is being calculated as below:
Buy Stop order price: Current Price + Spread + 1pip
Sell Stop order price: Current Price - Spread - 1pip
(Current price displayed on charts is Bid price)
But I think itís not correct. It should be as following:
Buy Stop order price: Ask Price + Spread + 1pip
Sell Stop order price: Bid Price - Spread - 1pip
Could you please confirm that?Ignored
DislikedI'm not sure why you are trying to incorporate the spread into the code?Ignored
DislikedSo that you actually get into the trade once the price has gone past the previous bars high.
Otherwise you maybe getting into the trade too early.Ignored
DislikedAll right, let’s clear this with an example:
If you try to place an instance order, current Bid (Sell) price for sell order and current Ask (Buy) price for buy order will be taken. Assume Spread is 3 pips for GBPUSD market.
In this case we are sacrificing 4 pips (Spread + 1 pip) on each buy/sell order to make sure it is not a fake Breakout. Is that right?
[font=Calibri][size=3]Or we want to sacrifice...Ignored
DislikedMusashi - the spread is reflected in the difference between the bid and the ask
PipPicker, I haven't looked at your code properly but we sacrifice only one pip in the code, but in reality, we sacrifice 3pips. The setup is based on the bid +/- 1pip; the order management is based on bid and ask
Code away, and we can use a visual test to see how its doing... From a quick skim through, the code is looking very well set outIgnored
DislikedWe want to get into the trade at a price which is +1 pip above the high or below the low of the signal bar.
Can you code the EA so that we can change the entry price and use different values for the distance above/below the signal bar? This way we can optimise the entry condition and determine what works best most times.Ignored
But I need to know if I should take the spread into account separetly as it's different based on market.
Look at my previous post, I think that's what it has to be. I mean having "Stop Level" which is specified by broker as minimum, plus whatever pips we want.Ignored
DislikedDoes the minimum "Stop Level" you mention equal the spread? Which is different for each pair. When I open a deal ticket and attempt to open a pending order there is a minimum distance from market condition which is the spread I presume.
Seems to make sense to make it as tight as possible above/below the signal bar.Ignored
This is my first post here, I'll attempt to descirbe this system I have been trading.
Great for London Open
1. Chart Set Up.
GBPUSD Time Frame 15 Mins
Indicators : SMA Period 21
9 Period Bollinger Bands Standard Deviation Set at 1. Levels set at 0.75 and -0.75
2. Entry Rule :
SMA must be Pointing down for a short entry. Bollinger Bands must be Pointing down for a short entry.
Set Up Candle must be a candle where the Open is in the Top 30% of the Candle and the Close is in the Bottom 30% of the Candle. This indicates...Ignored
DislikedCan u pls post another graghical presentation of it to me. i like 2 critically examine it and test it on my demoIgnored