Highest Open / Lowest Open Trade

One more: Long trade on EU on May 31

Some of the arrows are at the right place.
But it is the highest/lowest open AT THE TIME.
A bar breaks out and make a new high and closes near the high.
The next bar opens at the new HIGHEST OPEN.
That is where the short trade is entered after the entry criteria have been satisfied.

Gotcha. So the latest 1H candle can be considered a new HO/LO as well.

I just got stopped out at BE+5 in a EURGBP long trade...thoughts? Price actually formed a lower open before going long again.

I could not find the indicator so i code the attached indicator from scratch.
If any bugs or wrong price level, just let me know.
Some broker have different server time, the parameter "StartHour" allow you to set the start hour of the day.
If you can, pls also contribute your part in this forum.
Thank you very much, TooSlow, for this strategy.

Thank you tradebuddy for very helpfull indi and TooSlow for methode. It has made the revolution in my mind how simple trading can be.

Damn that indi is sweet, thanks tradebuddy!

Wasn't too sure if this was gonna work as the open low had been tested a few times already, apparently it doesn't matter. Also, got tired of being stopped out at BE+5 twice already, so decided to just TP at 10 pips.

GBPCHF

Thank you tradebuddy for the nice indi. I will try it.

To help trade this method I have created 2 EAs (one for buy trades and one for sells).

They consist of buttons on the screen which you click on to place trades, move SL etc. After a trade has been placed the EA will also draw a line on the chart 6 pips away from entry as an indication on where to move SL to BE+1. (note this line is net 6 pips and does not include the spread)

They are pretty easy to use and self explanatory but this is the procedure you should follow.

When a trade is setting up,
1. Make a mental note of your Stop Loss level.
2. Load the EA onto the chart. I think any TF is OK
3. Important, go into EA “Inputs” tab and enter your Stop Loss. (The EA will not place a trade if you don’t do this as the % risk is calculated from the SL level). Optional, Adjust the volume risk (%) based on your risk preference. (1% by default)
4. If more than 1 trade will be opened by either Buy EA’s or Sell EA’s at the same time make sure the magic numbers are unique.
5. Go into “Common” tab and make sure “Allow live trading” is switched on. Press OK
6. When the price has reached the level you want press the Buy now!/Sell now! Button.
7. Manage the trade using the buttons. You can also drag the SL or TP line as per normal.
8. When the trade has closed, remove the EA. from the chart.

The EA is designed to only take one trade, so that more than 1 trade is not opened by mistake. You will have to remove the EA and then load it again if you want to trade the same currency pair more than once.

The usual disclaimers apply to the use of these EA’s;
Users use them at their own risk.
Users should thoroughly test them on a demo account first.

Wow, I wake up and find new indicators and EAs.
And it is not Xmas or my birthday.
Thank you.

USD RED news at quarter past and half past the hour.

As per PM request I have updated the indi to allow input of your own pairs for all positions in table.

Have preloaded first 10 but these and others can be modified to own wishes.
Hope it helps

(see post 1465 for original)

J.

Rule #1

Dance with THE BEAST?

RULE #1