Can you please elaborate on Rule 2 of the 1-2-3 method? How do u define the current bar as testing the Hi/Lo of the last bar?
Thank you
Highest Open / Lowest Open Trade
- #4,703
- Edited 3:41am Aug 10, 2016 1:32am | Edited 3:41am
- | Joined Jul 2016 | Status: Trader | 54 Posts
Hi all
first thank to all members share and reply to posts
Special Thanks to @tooslow @Swingman and the author of M-CANDLE indicator.
Finaly I finished an EA base on this strategy.
In this post i will explaine the rulls and the logic of EA
please read it and if any problem or any mistake happen please let me know
this is first version of EA and might be have bogs so please test it and let me know your opinion about that.
THIS EA VERSION WAS TESTED BY ME AND IT IS NOT PROFITABLE NOW.
SO PLEASE DO NOT USE IT ON REAL ACCOUNT.
THIS EA USE EXACTLY THE RULLS THAT WAS MENTIONED IN POST #1 AND POST #7.
I WROTE THIS EA FOR BETTER VISUAL CONCEPT FOR THIS STRATEGY AND WITH THIS EA YOU CAN SEE HOW PRICE MOVE AND HOW RULLS WORKS.
IT DOES NOT NEED ANY INDICATOR AND ALL INDICATORES CONVERTED INTO EA
YOU CAN RUN IT ON TESTER IN M5 TIME FRAME AND SIT AND WATCH THE SYSTEM HOW WORKS IN FASTFORWARD MODE.
EVERY EXPLANATION IS FOR SELL POSITIONS AND FOR BUY POSITION YOU CAN SIMPLY REVERSE EVERY THING.
so we begin
at the first we have main rulss
Rull 1. NO ENTRY ON H1,M15,M5 BREAKOUT BARS.
we have two breakout model
1- when price make a HIGHER DAY[0]
2-when price break a HIGHER PERIVIOUST DAY.(HIGHER DAY[1])
rull no.1 say if we have breakout on H1,M15,M5 bars we donot trade that bar.
when a breakout happen in H1 bar so it was happen in any lower time frame
therefor
IF H1[0]_HIGH = D1[0]_HIGH THEN WE HAVE A BREAKOUT.
H1[0]_HIGH means high of current H1 candle
D1[0]_HIGH means high of current day
so if this condition be true we wait until next H1 candle and we do not enter any trade in this H1 breakout candle.
in case 2:
now if we cross pre_day high we have an other BREAKOUT
means
IF H1_OPEN[0] < D1[1]_HIGH AND CURRENT_PRICE > D1[1]_HIGH THEN WE HAVE BREAKOUT.
MEANS IF OPEN OF CURREN H1 CANDLE IS LOWER THAN PREVIOUS DAY HIGH AND CURRENT PRICE MOVE ABOVE THE PREVIOUST DAY HIGH WE HAVE A BREAKOUT.
IF ANY BREAKOUTS HAPPEN NO TRADE WILL HAPPEN UNTIL NEXT H1 CANDLE.
IN CHART VIEW IN UPPER LEFT CORNERR WE HAVE SOME COMMENTS LIKE THIS
if breakout=true we have no trade untill next H1 candle.
please mention that if we have an open trade and breakout happen after opening the trade it will not efect it .
=============================================================
Rull 2. NO LATE ENTRY NOT EVEN ONE PIP.
Rull 3. M5 BAR MUST OPEN BETWEEN H1 OPEN AND EXTREEM.
FIRST I EXPLAIN RULL3 AND THEN 2
now we have H1[0]_highest and if the breakout was not happen we wait until M5 candle open above the H1[0]_highest
after we have a M5 candle that open above the H1[0]_highest line we wait until price go down and cross H1[0]_highest
and exactly at cross point we ENTER SELL POSITION.(NO LATE ENTRY NOT EVEN 1 PIP)
======================================================================================
Rull 4.BE+1 IS BETTER THAN LOSS
AFTER WE OPEN TRADE WE DO NOT ENTER ANY TRADE UNTIL THIS ORDER BE CLOSED.
after open the trade we put stoploss on D1[0]_high + some more pips.
"some more pips" is a variable that can be change by user in INPUT values of EA.
i will explain EA inputs in this post .
after price fall 5 pips from entry position we change the stoploss line to BE-1 pip (we are talking about sell positions and for buy entrys just reverse the rulls and explanation)
"Falling 5 pips" can be modify and tune by user as input values of EA.
after that if price go down for 5 pips again we move stoploss 5 pips down and so on .....
ATTENTION WE HAVE NO TAKE PROFIT POINT AND WE TRAIL THE STOPLOSS FOR EVERY TRADE UNTIL STOPLOSS IS TRIGGED.
=====================================================================================
Rull 5.6.7 AND 8
ALL THIS RULLS ARE TAKEN CARE AND IT HAS NO ANY NEW CONDITION IN THIS RULLS.
====================================================================================
SO WE PASS ALL THE RULS @TOOSLOW SAID SOME ADDITIONAL RULLS IN POST #7 FOR
main condition is time filter that he want to trade just in NY market time
in Input EA values we have time filter in GMT.
you can Enter any time you like to trade .
for newyork time by default it is set from 13:00 GMT to 21:00 GMT
if you want to disable this function set the time from 00:00 to 23:59
about theothers condition mentioned in post #7 we take care of them in main conditions.( we trail stop loss)
FOR SPREAD I DO NOT PUT ANY CONDITION IN FUTHER WE WILL AD THAT ITEM.
===============================================================
NOW WE BEGIN USING EA
INPUT VALUES:
LOT SIZE IS FIXED TO ITS VALUE IN EVERY TRADE.(0.1)
STOPLOSS_PLUS_D1_HIGH_OR_LOW IS VALUE THAT PLUS OR MINOS FROM HIGH OR LOW DAY VALUE FOR STOPLOSS.(EVERY VALUE INPUTS IN POINT , 20 MEANS 2 PIPS)
TRAILINGSTOP THIS VALUE USES FOR TRAILING STOPLOSS MEANS THAT IF PRICE MOVE THIS VALUE STOPLOSS LINE WILL MOVE TO DOWN (IN SELL POSITION) .
SLIPPAGE MEANS SLIPAGE
MAGICNUMBER NOT IMPORTANT FOR YOU
BEGIN TIME AND END TIME IN GMT YOU CAN ENTER YOUR FAVORATE TIME.
I SUGGEST THAT PUT THIS EA IN TESTER IN ANY PAIRS IN M5 TIMEFRAME AND WATCH THE STRATEGY.
I PUT SOME COMMENTS IN CHART THAT HELP US TO FOLLOW THE RULLS.
in addition : secondary candles is in H1 timeframe.
this 3 pictures explain BREAKOUTS in chart:
FINALY PLEASE USE IT AND IF ANY SUGGESTION YOU HAVE PLEASE WRITE IT
TANXX
first thank to all members share and reply to posts
Special Thanks to @tooslow @Swingman and the author of M-CANDLE indicator.
Finaly I finished an EA base on this strategy.
In this post i will explaine the rulls and the logic of EA
please read it and if any problem or any mistake happen please let me know
this is first version of EA and might be have bogs so please test it and let me know your opinion about that.
THIS EA VERSION WAS TESTED BY ME AND IT IS NOT PROFITABLE NOW.
SO PLEASE DO NOT USE IT ON REAL ACCOUNT.
THIS EA USE EXACTLY THE RULLS THAT WAS MENTIONED IN POST #1 AND POST #7.
I WROTE THIS EA FOR BETTER VISUAL CONCEPT FOR THIS STRATEGY AND WITH THIS EA YOU CAN SEE HOW PRICE MOVE AND HOW RULLS WORKS.
IT DOES NOT NEED ANY INDICATOR AND ALL INDICATORES CONVERTED INTO EA
YOU CAN RUN IT ON TESTER IN M5 TIME FRAME AND SIT AND WATCH THE SYSTEM HOW WORKS IN FASTFORWARD MODE.
EVERY EXPLANATION IS FOR SELL POSITIONS AND FOR BUY POSITION YOU CAN SIMPLY REVERSE EVERY THING.
so we begin
at the first we have main rulss
Rull 1. NO ENTRY ON H1,M15,M5 BREAKOUT BARS.
we have two breakout model
1- when price make a HIGHER DAY[0]
2-when price break a HIGHER PERIVIOUST DAY.(HIGHER DAY[1])
rull no.1 say if we have breakout on H1,M15,M5 bars we donot trade that bar.
when a breakout happen in H1 bar so it was happen in any lower time frame
therefor
IF H1[0]_HIGH = D1[0]_HIGH THEN WE HAVE A BREAKOUT.
H1[0]_HIGH means high of current H1 candle
D1[0]_HIGH means high of current day
so if this condition be true we wait until next H1 candle and we do not enter any trade in this H1 breakout candle.
in case 2:
now if we cross pre_day high we have an other BREAKOUT
means
IF H1_OPEN[0] < D1[1]_HIGH AND CURRENT_PRICE > D1[1]_HIGH THEN WE HAVE BREAKOUT.
MEANS IF OPEN OF CURREN H1 CANDLE IS LOWER THAN PREVIOUS DAY HIGH AND CURRENT PRICE MOVE ABOVE THE PREVIOUST DAY HIGH WE HAVE A BREAKOUT.
IF ANY BREAKOUTS HAPPEN NO TRADE WILL HAPPEN UNTIL NEXT H1 CANDLE.
IN CHART VIEW IN UPPER LEFT CORNERR WE HAVE SOME COMMENTS LIKE THIS
if breakout=true we have no trade untill next H1 candle.
please mention that if we have an open trade and breakout happen after opening the trade it will not efect it .
=============================================================
Rull 2. NO LATE ENTRY NOT EVEN ONE PIP.
Rull 3. M5 BAR MUST OPEN BETWEEN H1 OPEN AND EXTREEM.
FIRST I EXPLAIN RULL3 AND THEN 2
now we have H1[0]_highest and if the breakout was not happen we wait until M5 candle open above the H1[0]_highest
after we have a M5 candle that open above the H1[0]_highest line we wait until price go down and cross H1[0]_highest
and exactly at cross point we ENTER SELL POSITION.(NO LATE ENTRY NOT EVEN 1 PIP)
======================================================================================
Rull 4.BE+1 IS BETTER THAN LOSS
AFTER WE OPEN TRADE WE DO NOT ENTER ANY TRADE UNTIL THIS ORDER BE CLOSED.
after open the trade we put stoploss on D1[0]_high + some more pips.
"some more pips" is a variable that can be change by user in INPUT values of EA.
i will explain EA inputs in this post .
after price fall 5 pips from entry position we change the stoploss line to BE-1 pip (we are talking about sell positions and for buy entrys just reverse the rulls and explanation)
"Falling 5 pips" can be modify and tune by user as input values of EA.
after that if price go down for 5 pips again we move stoploss 5 pips down and so on .....
ATTENTION WE HAVE NO TAKE PROFIT POINT AND WE TRAIL THE STOPLOSS FOR EVERY TRADE UNTIL STOPLOSS IS TRIGGED.
=====================================================================================
Rull 5.6.7 AND 8
ALL THIS RULLS ARE TAKEN CARE AND IT HAS NO ANY NEW CONDITION IN THIS RULLS.
====================================================================================
SO WE PASS ALL THE RULS @TOOSLOW SAID SOME ADDITIONAL RULLS IN POST #7 FOR
main condition is time filter that he want to trade just in NY market time
in Input EA values we have time filter in GMT.
you can Enter any time you like to trade .
for newyork time by default it is set from 13:00 GMT to 21:00 GMT
if you want to disable this function set the time from 00:00 to 23:59
about theothers condition mentioned in post #7 we take care of them in main conditions.( we trail stop loss)
FOR SPREAD I DO NOT PUT ANY CONDITION IN FUTHER WE WILL AD THAT ITEM.
===============================================================
NOW WE BEGIN USING EA
INPUT VALUES:
LOT SIZE IS FIXED TO ITS VALUE IN EVERY TRADE.(0.1)
STOPLOSS_PLUS_D1_HIGH_OR_LOW IS VALUE THAT PLUS OR MINOS FROM HIGH OR LOW DAY VALUE FOR STOPLOSS.(EVERY VALUE INPUTS IN POINT , 20 MEANS 2 PIPS)
TRAILINGSTOP THIS VALUE USES FOR TRAILING STOPLOSS MEANS THAT IF PRICE MOVE THIS VALUE STOPLOSS LINE WILL MOVE TO DOWN (IN SELL POSITION) .
SLIPPAGE MEANS SLIPAGE
MAGICNUMBER NOT IMPORTANT FOR YOU
BEGIN TIME AND END TIME IN GMT YOU CAN ENTER YOUR FAVORATE TIME.
I SUGGEST THAT PUT THIS EA IN TESTER IN ANY PAIRS IN M5 TIMEFRAME AND WATCH THE STRATEGY.
I PUT SOME COMMENTS IN CHART THAT HELP US TO FOLLOW THE RULLS.
in addition : secondary candles is in H1 timeframe.
this 3 pictures explain BREAKOUTS in chart:
FINALY PLEASE USE IT AND IF ANY SUGGESTION YOU HAVE PLEASE WRITE IT
TANXX
- #4,704
- Edited 7:18am Aug 10, 2016 2:32am | Edited 7:18am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
- #4,705
- Aug 10, 2016 2:35am Aug 10, 2016 2:35am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Price action gave you major clues as to what was going to happen at the top there. 
- #4,710
- Aug 10, 2016 7:25am Aug 10, 2016 7:25am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Alternative chart layout inspired by lemercenaire{image} {image}
- #4,711
- Aug 10, 2016 7:50am Aug 10, 2016 7:50am
- Joined Mar 2012 | Status: Trader | 14,321 Posts | Online Now
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #4,712
- Aug 10, 2016 7:53am Aug 10, 2016 7:53am
- Joined Mar 2012 | Status: Trader | 14,321 Posts | Online Now
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #4,713
- Aug 10, 2016 7:54am Aug 10, 2016 7:54am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
EURGBP is playing with us... 
- #4,716
- Aug 10, 2016 8:06am Aug 10, 2016 8:06am
- Joined Mar 2012 | Status: Trader | 14,321 Posts | Online Now
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #4,717
- Aug 10, 2016 8:14am Aug 10, 2016 8:14am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Ditto Cable...but entries on the M1 chart... 
- #4,719
- Aug 10, 2016 8:18am Aug 10, 2016 8:18am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Cable entry M1 
- #4,720
- Aug 10, 2016 8:34am Aug 10, 2016 8:34am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Damn those pesky entry rules! 