Amazing Strategy that works.

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Daniel Laverdiere
806
Daniel Laverdiere  

Hello everyone!

Some years ago I found on another website, a strategy that works good and I added a little something that makes it even better.

Here's the original strategy and then my little addon...

<strategy>

You make 1 trade per day on the EURUSD

Your "day" ends at 4:59EST and starts at 5pm EST

Use 60 minute chart with the MACD and RSI on the chart

Each day at 5pm EST you start watching the chart. it may take hours and hours of watching the chart, but keep watching until the high or low for the day has been hit.

As soon as the daily high or low has been hit on the 60 minute charts, switch to your 1 minute charts. if the daily high or low has also been hit on the 1 minute chart, the signal is confirmed.

After the signal is confirmed enter the trade immediately. if it is the high for the day that has been hit, go short. if it is the daily low that has been hit, go long. 

Set stop loss of 15 pips and a profit target of 25 pips. 

</strategy>

To make sure you know when the hi or low of the day arrises, here's my trick.

I suggest a small indicator to help that strategy that works real good...

It is attached here and what it does it that it shows the number of pips so far from opening of asian session and gives you the average for the last 5, 10 and 30 days so you check where you stand. I use it with this strategy and it works nearly 100% of the time.

You can also use stop or limit order at the price of daily peak average...

Thanks

Basic Principles - Trading Operations - MetaTrader 5
Basic Principles - Trading Operations - MetaTrader 5
  • www.metatrader5.com
is an instruction given to a broker to buy or sell a financial instrument. There are two main types of orders: Market and Pending. In addition, there are special Take Profit and Stop Loss levels. is the commercial exchange (buying or selling) of a financial security. Buying is executed at the demand price (Ask), and Sell is performed at the...
Sergey Golubev
Moderator
108393
Sergey Golubev  

Original name of this indicator is Signal Bars, the original/real author is cja.



I do not know the real name of this coder but you can check his indicators from his profile here.

As I remember - the latest version of this indicator is Signal Bars Executive nmc

Sergey Golubev
Moderator
108393
Sergey Golubev  
Signal Bars v7 to Signal Bars v10a (all the versions), Signal_Bars_HAS_v01 and v2 working with Heikin_Ashi indicator - the thread
Jox90
1018
Jox90  
Daniel Laverdiere:


it may take hours and hours of watching the chart, but keep watching until the high or low for the day has been hit.

Make an alert for this strategy, you can get rich but also sick... we will find you at T.A., that doesn't stand for Technical Analysts but Traders Anonymous! XD (lol)

whroeder1
17949
whroeder1  
Daniel Laverdiere: Each day at 5pm EST you start watching the chart. it may take hours and hours of watching the chart, but keep watching until the high or low for the day has been hit.
  1. The market opens 5pm ET, (EST or EDT whichever is in effect.)
  2. You can't know when you've hit the HOD/LOD until the next day. You're guessing.
  3. On average the HOD/LOD is formed during the early London session (~10 GMT/BST) ~5 am ET. You'll be watching that chart for 11 hours. LOL
  4. The strategy is called the London Open.
Corey Ryan
32
Corey Ryan  
Hi Daniele, i'm still confused. I need help to show your sample analysis using this method. Thank You.
Lorentzos Roussos
27136
Lorentzos Roussos  
Isn't the daily H1 high the same with the M1 daily High ?
Mohammed Mounir
1009
Mohammed Mounir  
Jox90:

Make an alert for this strategy, you can get rich but also sick... we will find you at T.A., that doesn't stand for Technical Analysts but Traders Anonymous! XD (lol)

HAHAHA great comment Jox90, you can get rich but also sick (Watching the chart all day is boring)

Jox90
1018
Jox90  
Mohammed Mounir:

HAHAHA great comment Jox90, you can get rich but also sick (Watching the chart all day is boring)

:)
Ralphael Caesar
1
Ralphael Caesar  

pls this is nice

Lim Hoo Chon
157
Lim Hoo Chon  
Daniel Laverdiere:

Hello everyone!

Some years ago I found on another website, a strategy that works good and I added a little something that makes it even better.

Here's the original strategy and then my little addon...

<strategy>

You make 1 trade per day on the EURUSD

Your "day" ends at 4:59EST and starts at 5pm EST

Use 60 minute chart with the MACD and RSI on the chart

Each day at 5pm EST you start watching the chart. it may take hours and hours of watching the chart, but keep watching until the high or low for the day has been hit.

As soon as the daily high or low has been hit on the 60 minute charts, switch to your 1 minute charts. if the daily high or low has also been hit on the 1 minute chart, the signal is confirmed.

After the signal is confirmed enter the trade immediately. if it is the high for the day that has been hit, go short. if it is the daily low that has been hit, go long. 

Set stop loss of 15 pips and a profit target of 25 pips. 

</strategy>

To make sure you know when the hi or low of the day arrises, here's my trick.

I suggest a small indicator to help that strategy that works real good...

It is attached here and what it does it that it shows the number of pips so far from opening of asian session and gives you the average for the last 5, 10 and 30 days so you check where you stand. I use it with this strategy and it works nearly 100% of the time.

You can also use stop or limit order at the price of daily peak average...

Thanks

Good idea,I will use this immediately.Thanks.
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