Trading is as simple as 1-2-3

Wait till next hour.

Next hour.

Profit taken.

Double dipping. This has not been talked about much. Trade was triggered, profit taken and then the same setup appeared a second time during the same bar.

Do you enter the second trade?

M5 chart period. The red/green shading represents H1 chart period.

Bar[6] tested low. Bar[5] produced 5 pip profit. Bar[4] tested low. Do you enter on Bar[3]?



I repeat this so new comers don't have to go back to the first post.


A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.

A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.

Let me rephrase in the form of yes/no or true/false questions.

1) Did a new daily high or new daily low happen during the previous bar. If YES/TRUE go to question 2, otherwise find another pair.

2) Did this bar test ( get near ) the new daily high or new daily low of the previous bar. If YES/TRUE go to question 3, otherwise find another pair.

3) Has price returned to the open price of the current bar. If YES/TRUE enter the trade in the direction price is crossing the open, otherwise do not enter the trade.

"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!

Waiting...

update EA rev 01.
entry logic :
Low[1] == iLow(NULL,PERIOD_D1,0) && Low[0] > Low[1] && Low[0] < Open[0]
&& Open[0] - Low[0] > 0.32 *(Open[0] - Low[1])
&& Bid > Open[0]
High[1] == iHigh(NULL,PERIOD_D1,0) && High[0] < High[1] && High[0] > Open[0]
&& High[0] - Open[0] > 0.32 *(High[1] - Open[0])
&& Ask < Open[0]

if set UseTakeProfit = False, EA will close trade when + 5 pips reached.

Almost there blueseashorse.

Open[0] - Low[0] > 0.32 *(Open[0] - Low[1]) should be:

Low[0] < ( Low[1] + TEST_PIPS ) TEST_PIPS is an input, default 10. Price should test the low. Looks like you are testing for Low[0] moving about 1/3 of the way towards Low[1]. Interesting idea

High[0] - Open[0] > 0.32 *(High[1] - Open[0]) should be:

High[0] > ( High[1] - TEST_PIPS )

Thank you so much for contributing.

Next hour.

Next hour.

Next hour.

Next hour.

Waiting...

update EA rev 02.
now it follows logic:
Low[0] < ( Low[1] + TEST_PIPS )
High[0] > ( High[1] - TEST_PIPS )

Thanks a million blueseahorse.

Trade never happened.

Next hour.


I repeat this so new comers don't have to go back to the first post.


A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.

A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.

Let me rephrase in the form of yes/no or true/false questions.

1) Did a new daily high or new daily low happen during the previous bar. If YES/TRUE go to question 2, otherwise find another pair.

2) Did this bar test ( get near ) the new daily high or new daily low of the previous bar. If YES/TRUE go to question 3, otherwise find another pair.

3) Has price returned to the open price of the current bar. If YES/TRUE enter the trade in the direction price is crossing the open, otherwise do not enter the trade.

"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!

the explanation for EA setfile :

Textbook example.

Next hour.