I have studied GBP USD during the morning session and have found that a box starting at 4.00am and ending at 7.15am GMT works well using the slow slope line from the 60 min chart (50, 3, 0). Admittedly I have only looked at October but based upon the criteria above and below here are the results:
Stop at 19 pips + spread
Target 40 pips from entry
Enter 1 pip above or below box (depending upon direction)
Move stop to breakeven after 30 pips
No trades after 9.30am GMT
9 winners
3 losers
2 breakeven
11 no trade
Return: 40 divided by 22 (including spread) = 1.81 x 9 = 16.36 - 3 = return of 13.36 positions or 300 pips
I have studied GBP USD during the morning session and have found that a box starting at 4.00am and ending at 7.15am GMT works well using the slow slope line from the 60 min chart (50, 3, 0). Admittedly I have only looked at October but based upon the criteria above and below here are the results:
Stop at 19 pips + spread
Target 40 pips from entry
Enter 1 pip above or below box (depending upon direction)
Move stop to breakeven after 30 pips
No trades after 9.30am GMT
9 winners
3 losers
2 breakeven
11 no trade
Return: 40 divided...
Ignored
So you use it in the 15Minute Chart? and only a Buffer from 1pip....
Thatīs difficult because Metatrader-Brokers accept a Pending Order 5pips away from the current Price. So if the last candel is the highest/lowest you canīt put the order directly with 1pip buffer...
So you use it in the 15Minute Chart? and only a Buffer from 1pip....
Thatīs difficult because Metatrader-Brokers accept a Pending Order 5pips away from the current Price. So if the last candel is the highest/lowest you canīt put the order directly with 1pip buffer...
Ignored
I agree that it is more of a problem if you want a completely automated system. Looking back over October there were only 4 days where this would have been a problem between 2 October to 5 November (which was the period that I looked at). In each case the price retraced below the entry level so you could have manually entered an order after the bar had finished probably at a better price than I used for my analysis
So you use it in the 15Minute Chart? and only a Buffer from 1pip....
Thatīs difficult because Metatrader-Brokers accept a Pending Order 5pips away from the current Price. So if the last candel is the highest/lowest you canīt put the order directly with 1pip buffer...
Ignored
I use 2 box in the 15 m chart
One for london GMT 5 - 6.45 (means that the first candle outside the box is at 7 GMT ( 1 hour before the open london)
It work very well: take a lok the past month
In the same chart I have also a newyork box GMT 11 - 12.45; then the first candle outside the box is at 13 GMt when newyork open
When the 2 slope lines are the same colour I trade the break
I use 2 box in the 15 m chart
One for london GMT 5 - 6.45 (means that the first candle outside the box is at 7 GMT ( 1 hour before the open london)
It work very well: take a lok the past month
In the same chart I have also a newyork box GMT 11 - 12.45; then the first candle outside the box is at 13 GMt when newyork open
When the 2 slope lines are the same colour I trade the break
it work
Ignored
Hi Pierre,
Are your sloping lines also on the 15 min chart or do you use the 60 min chart for these. Are you using 50, 3, 0 and 25, 3, 0 if not what settings do you have
I have studied GBP USD during the morning session and have found that a box starting at 4.00am and ending at 7.15am GMT works well using the slow slope line from the 60 min chart (50, 3, 0). Admittedly I have only looked at October but based upon the criteria above and below here are the results:
Stop at 19 pips + spread
Target 40 pips from entry
Enter 1 pip above or below box (depending upon direction)
Move stop to breakeven after 30 pips
No trades after 9.30am GMT
9 winners
3 losers
2 breakeven
11 no trade
Return: 40 divided...
Ignored
HI INDYFX
Can you post of Picture of charts , with indicators you are using.
To make it clear for me.
Your box is contained 13 bar of 15 Minutes ?
0r 14 bar of 15 minutes ?
HI INDYFX
Can you post of Picture of charts , with indicators you are using.
To make it clear for me.
Your box is contained 13 bar of 15 Minutes ?
0r 14 bar of 15 minutes ?
7am-9am Big Dog USD Breakout Strategy
