(binned per thread starter’s request) Daily Open, Hi/Lo Trading | Forex Factory

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One trade per daily bar, or per X bars on current timeframe 0 replies

Trading 24 hours per day, 5 days per week 14 replies

Attachments: (binned per thread starter’s request) Daily Open, Hi/Lo Trading
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(binned per thread starter’s request) Daily Open, Hi/Lo Trading

  • #1
  • First Post: Edited Sep 10, 2022 1:43am Mar 28, 2013 1:49am | Edited Sep 10, 2022 1:43am
Deleted Thread.

*Useful script for Free Download:
Attached File(s)
File Type: ex4 daily_open_line.ex4   2 KB | 2,110 downloads
File Type: mq4 _HOD_LOD_Close_1.mq4   4 KB | 2,238 downloads
  • #2
  • Mar 28, 2013 1:59am Mar 28, 2013 1:59am
Pictures would be nice, it will also show your formations you use etc.

jt
"Even if you fall down face first, you still went forward."
  • #3
  • Mar 28, 2013 2:15am Mar 28, 2013 2:15am
Example, price hit last 5 days lowest level(Support),
M15 white pin bar cut the line(additional confirmation) ~ buy signal:
Attached Image
  • #4
  • Mar 28, 2013 2:22am Mar 28, 2013 2:22am
Similar method than S/D zones bounce.
MT4/MT5 EAs/Indicators/Alerts coder
  • #5
  • Mar 28, 2013 2:30am Mar 28, 2013 2:30am
Quoting FerruFx
Similar method than S/D zones bounce.
Yes, there are similarities but for this method we only need 3/4 lines(more simple) and all the levels are Objective.
  • #6
  • Mar 28, 2013 2:34am Mar 28, 2013 2:34am
Quoting Les Lau
Yes, there are similarities but for this method we only need 3/4 lines(more simple) and all the levels are Objective.
Not sure if there are more accurate than S/D ... but the important is that this works for you!
MT4/MT5 EAs/Indicators/Alerts coder
  • #7
  • Mar 28, 2013 2:50am Mar 28, 2013 2:50am
Hi OP you may check this thread for more effective way to trade this method. http://www.forexfactory.com/showthread.php?t=403563
Almost similar.
  • #8
  • Mar 28, 2013 3:16am Mar 28, 2013 3:16am
Quoting dedoctor
Hi OP you may check this thread for more effective way to trade this method. http://www.forexfactory.com/showthread.php?t=403563
Almost similar.
That is a great thread. Seneca's Open Level is GMT5:00, actually either 00:00 or 05:00 can be utilised.
  • #9
  • Mar 28, 2013 3:27am Mar 28, 2013 3:27am
Les Lau/

Way to go. Simple & concise trading method requiring very few tools.

I wish you the best with your method.

_______________________
  • #10
  • Mar 28, 2013 4:04am Mar 28, 2013 4:04am
Quoting acetrader
Les Lau/

Way to go. Simple & concise trading method requiring very few tools.

I wish you the best with your method.

_______________________
Wish you the same, Acetrader
  • #11
  • Mar 28, 2013 5:48am Mar 28, 2013 5:48am
Quoting Les Lau
That is a great thread. Seneca's Open Level is GMT5:00, actually either 00:00 or 05:00 can be utilised.
Good. Am a fan of Seneca. Hope you will be posting more charts and how to place stop loss. I like clean chart and that's what you're doing here
  • #12
  • Mar 28, 2013 8:31am Mar 28, 2013 8:31am
It's very simple trading system, what pair pair and do you have back test record for this strategy?

---------

how to swing (http://www.forexstrategi.com/2013/03/how-to-swing-trading.html)
  • #13
  • Edited 6:49am Mar 29, 2013 6:35am | Edited 6:49am
Quoting Les Lau
This is an Intraday Trading Sytem. You only need 3-4 levels to be effectively profitable.

1)Daily Open GMT 00:00 (optional use GMT 05:00)
2)Previous Day Hi
3)Previous Day Lo
4)Last Week/5 days Hi/Lo

When price nearing or hit these key levels, Trade rebounce/reversal
If price blast through these levels, wait for retracement then (re)enter following price flow direction

*Useful script for Free Download:
Hi Les

Thanks for sharing your strategy, just have a quick question regarding piont 4 above "4)Last Week/5 days Hi/Lo". I have downloaded the attached indy which clearly shows yesterdays highs and lows and todays open price, but how do we use previous weeks Hi/Lo???

Cheers Clive.

edit: Sorry just reread my post basically asking have you got an indy that displays the last 5 days Hi/Lo???
Feel the Fear and do it anyway!!!
  • #14
  • Mar 29, 2013 7:15am Mar 29, 2013 7:15am
Hi you can try out the script below, although it's called daily HL there are many levels inside~ prev week hi lo, prev mth hi lo..
But i normally draw my last 5 days hi lo by manually instead.

Free download script:
Attached File(s)
File Type: mq4 Daily High-Low.mq4   21 KB | 1,554 downloads
  • #15
  • Mar 29, 2013 7:18am Mar 29, 2013 7:18am
Quoting Les Lau
But i normally draw my last 5 days hi lo by manually instead.
Yes just by opening the weekly chart and plot lines on top and bottom of the last closed candle.
MT4/MT5 EAs/Indicators/Alerts coder
  • #16
  • Mar 29, 2013 7:22am Mar 29, 2013 7:22am
Quoting Les Lau
Hi you can try out the script below, although it's called daily HL there are many levels inside~ prev week hi lo, prev mth hi lo..
But i normally draw my last 5 days hi lo by manually instead.

Free download script:
ok thanks Les and FerruFx will give this a go next week, will also look to enter on 1 min charts to get the stop as small as possible and then hopefully with a nice bounce or break and retest should get a nice RR ratio too.

Out of interest what sort of pips would you average from this strategy per trade??

many Thanks
Feel the Fear and do it anyway!!!
  • #17
  • Mar 31, 2013 4:05am Mar 31, 2013 4:05am
Quoting dedoctor
Hope you will be posting more charts and how to place stop loss. I like clean chart and that's what you're doing here
Tq. I'm still considering how to proceed and what should i post..
I have decided in future i probably won't post in detail the type of market, which pair and the exact condition how i make an entry
Although i might share more about concept of trading, and some useful points.

Also myself have applied to become a Commercial member in FF.
  • #18
  • Mar 31, 2013 5:23am Mar 31, 2013 5:23am
hii

can you explain your saying:
"If price blast through these levels, wait for retracement then (re)enter following price flow direction",
or give a graphic example.


thanking you in advance.
  • #19
  • Apr 4, 2013 7:05am Apr 4, 2013 7:05am
M15 Bearish pin bar cut @Prev Daily High~ Sell signal:
Attached Image (click to enlarge)
Click to Enlarge Name: ej 2.png Size: 19 KB
  • #20
  • Apr 22, 2013 1:02am Apr 22, 2013 1:02am
Sell EJ, TP1 taken
H1 TF:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh1.png Size: 23 KB
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