DislikedWhen is working this trading system and when not? Any EA? What is the "close enough to HH / LL "? - I a thinking to write an EA if doesn't exist {image}Ignored
A) This setup (system) happens daily on each pair. One must select the best pairs to trade.
Q) Any EA?
A) No EA has been written for this as far as I know.
Q) What is the "close enough to HH / LL "?
A) That is a judgement call. For an open 10 pips away from the daily high or daily low, a 5 pip move toward the daily high or daily low would be close enough.
An EA for this would have to calculate position size based on risk and stop loss price. The profit target should be an input with default set to 5 pips. Close enough should be an input - it should be a percentage retrace of distance from H1 open price to the daily high or daily low of H1 bar[1] with default set to 50%. Another feature of the EA (or separate EA) could be an entry set at a fixed distance from the daily high or daily low of H1 bar[1].
Good luck with your EA.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade