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Highest Open / Lowest Open Trade

  • #5,481
  • Aug 19, 2016 6:51am Aug 19, 2016 6:51am
Quoting learn2fly
{quote} rule #2 no late entry (not even 1 pip) there is no rule about what order method we should use so IMHO, as long as we enter at the correct entry, what order method we are using isn't matter. CMIIW

Yes. Entry is exactly on the open.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,482
  • Edited 7:50am Aug 19, 2016 7:17am | Edited 7:50am
Quoting lemercenaire
{quote} {image} This isn't even a particularly great sword, as although the handle (cl) is outside that zone, it is still pretty far up the blade. Ideally, I'd be looking for it to be in the 5th zone and if it was back where it started - then I'd be the happiest puppy all over.
Attached Image (click to enlarge)
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The "first high zone" would be above 77% and the "low low zone" would be below 23%.
Magnified Market Price is the indicator ( version modified by coder from another galaxy ).
Will see if I can modify our indicator.

EDIT: Misread the fibs lemercenaire drew. Retrace % is the day's range not the H1 candle range.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,483
  • Aug 19, 2016 7:49am Aug 19, 2016 7:49am
Quoting TooSlow
{quote} {image} The "first high zone" would be above 77% and the "low low zone" would be below 23%. Magnified Market Price is the indicator ( version modified by coder from another galaxy ). Will see if I can modify our indicator.
Hi Mate,
what is this a percentage of? Would it be the Average Daily range or something similar?
And what is it suggesting/indicating?
Thanks TooSlow.
  • #5,484
  • Aug 19, 2016 7:56am Aug 19, 2016 7:56am
Best to start at this post from lemercenaire: http://www.forexfactory.com/showthre...21#post9092221
Then you will understand the background and have the answer
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,485
  • Aug 19, 2016 7:59am Aug 19, 2016 7:59am
Quoting TooSlow
{quote} {image} The "first high zone" would be above 77% and the "low low zone" would be below 23%. Magnified Market Price is the indicator ( version modified by coder from another galaxy ). Will see if I can modify our indicator. EDIT: Misread the fibs lemercenaire drew. Retrace % is the day's range not the H1 candle range.
It's off of the H1 that set the extreme.
Check this post: http://www.forexfactory.com/showthre...94#post9092294
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,486
  • Aug 19, 2016 8:00am Aug 19, 2016 8:00am
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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,487
  • Aug 19, 2016 8:02am Aug 19, 2016 8:02am
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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,488
  • Aug 19, 2016 8:05am Aug 19, 2016 8:05am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,489
  • Aug 19, 2016 8:06am Aug 19, 2016 8:06am
Quoting MichaelG
{quote} Hi Mate, what is this a percentage of? Would it be the Average Daily range or something similar? And what is it suggesting/indicating? Thanks TooSlow.
Range = daily high - daily low.

% of daily range = (close - low) / Range.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,490
  • Aug 19, 2016 8:09am Aug 19, 2016 8:09am
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lemercenaire
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,491
  • Aug 19, 2016 8:20am Aug 19, 2016 8:20am
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What a ride.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,492
  • Aug 19, 2016 8:30am Aug 19, 2016 8:30am
Quoting TooSlow
{image} lemercenaire
I second that
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,493
  • Aug 19, 2016 8:34am Aug 19, 2016 8:34am
Quoting mahmood.tava
{quote} Hi amin and tanx for attention in this strategy there is no diffrence between sell stop or market order but i undrestand what did u mean but if i place sell stop in H1_highest_open and price did not toch it we should delete order and wait for next open candle i think this proccess is not neccesery and it makes EA more compilacated . about trailing SL it is now doing this when price fall for 5 pips (that can be modify by user in input value of EA) Ea move SL to BE-1 and after that if price fall for 5 pips again it will move SL to BE-1-5 and...



Salam Mahmood.
I have been thinking about how to improve the EA. Please let me know if this is possible.
We could use it to either Auto trade.....or....Manual trade.
For Manual trading, the EA could alert the trader when a candle opens in the Area of interest. And the trader can then decide if they wish to take the trade or not.

This feature might be helpful if the trader is watching many pairs.

Select Trade Method ........Auto Trade (Drop down box)
......................................Manual Trade

Select Time Frame Trigger ...........M30 (Drop down box)
.................................................M15
.................................................M5
.................................................M1

MANUAL TRADE ALERTS
Show on screen alerts................... True/False
Show Alert for X minutes ................0.00 ............(0.15 = 15 seconds)

The on screen alert would be a simple BOX that popped up on the chart when a new candle opened in the area of interest. This would come from the selected Trigger Timeframe.
Example.....If I chose the M5 candle open as my Trigger, then an alert like this would pop up.......

M5 candle open

This would remain on the chart for the selected period.
If Manual Trading is selected, then the EA will NOT place trades or manage manually entered trades.


Also, we need to have some Money Management inputs apart from the Fixed Lot size.
As TooSlow has mentioned, we should have an option for using a Fixed Risk per trade.

Maybe something like this....

TRADE MANAGER
Trade Fixed lot size .................True/False (Default = False)
Lot size =. ..............................0.01
Trade Fixed Ccy amount ...........True/False (Default = False)
Fixed Currency amount = .........0.00

So the EA would know how to calculate the lot size for a set Currency amount, there would also need to be an input to show what currency the account is funded in, so we would need something like this....

Select Account Currency................. USD (Drop Down Box)
...................................................AUD
...................................................NZD
...................................................EUR
..................................................CAD
...................................................GBP
...................................................JPY
...................................................xxx
...................................................xxx
..................................................xxx
..................................................xxx

Also, we need to have the option to take partial profits...............something like this, so you can set 3(?) Take Partial Profit settings.

Take Partial Profit ........................True/False (Default = False)
ATake number of Lot(s) off ...........0
ATake lot(s) off at X pips ..............0
BTake number of Lot(s) off........... 0
BTake lot(s) off at X pips............. 0
CTake number of Lot(s) off.......... 0
CTake lot(s) off at X pips .............0

And lastly, we will need to have a setting to limit the number of orders that the EA can place so we don't have any margin problems. If trading 0.01 lots, this will probably not be an issue, but it might be when trading set Currency amounts.
Also, the trader may be happy to stop trading after a number of losses or wins, so something like this might help.(The default of 99 means that the EA will place as many trades as there are pairs that it is loaded onto.

Maximum number of Active trades allowed ...............99
Stop Trading after X Consecutive losses ...................99
Stop Trading after X Consecutive Wins .....................99

Thankyou Mahmood for your hard work on this EA and thankyou to TooSlow for allowing us to discuss it here on his thread.

Many thanks
Michael
  • #5,494
  • Aug 19, 2016 8:39am Aug 19, 2016 8:39am
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Waiting
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,495
  • Aug 19, 2016 8:40am Aug 19, 2016 8:40am
Quoting TooSlow
{quote} Range = daily high - daily low. % of daily range = (close - low) / Range.
Thanks Mate
  • #5,496
  • Aug 19, 2016 8:41am Aug 19, 2016 8:41am
Quoting PippyTheGrt
Best to start at this post from lemercenaire: http://www.forexfactory.com/showthre...21#post9092221 Then you will understand the background and have the answer
Thanks Pippy
  • #5,497
  • Aug 19, 2016 9:49am Aug 19, 2016 9:49am
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Anyone catch the GBPUSD?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,498
  • Aug 19, 2016 10:02am Aug 19, 2016 10:02am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,499
  • Aug 19, 2016 10:33am Aug 19, 2016 10:33am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,500
  • Aug 19, 2016 11:34am Aug 19, 2016 11:34am
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Another time.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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