Forex strategies - page 3
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the current day's channel width has exceeded the average channel width
Highlighted - WHICH channel? Yesterday's? The 60-day? Some sort of vinaigrette of both together (there's an average width of both or something)? Further, if we take a specific channel, say, the 60-day one, and refuse from any "vinaigrettes", then there will be no "average". Obviously, such a channel has well-defined and static borders at any given day. These borders will be slightly corrected only in the next day. But if we are inclined to create some conditional TrueRange, its boundaries can be floating at each moment of the current day (though they can be static again; it depends on the algorithm that generates this TrueRange).
I see, thanks for the hint! So here is the idea: let's call the set of ratios of each instrument of the form 145/163=1.Let's call it TrueRange and display it on the chart along with standard (and clear) channels (there may be 10 or more ways; the first and the easiest one is to put it on your subchart, but it may also be attached to the quotes and put it on the "main chart"), to observe its, TruRange's, "turns" (in other words - to collect statistics graphically; then maybe it will come to figures when we understand what kind of regularities we are searching for) and make conclusions. How's the plan? :)
But it has its approximate limits for movement during the current day - the average daily range
Well, yes. It is necessary to write an indicator of this ratio. Then everything is simple - as soon as the indicator value on the zero bar is close to one, open !
In this same indicator we should consider the location of the price relative to the daily range at the moment of reaching one - to know which way to open.
For example +1 - price is on the upper border of the daily range, open downwards
-1 - price is on the lower border of the daily range.
I forgot to add something else - time should be taken into consideration. This event should be fixed in the interval of 14-15 hours of Alpari TP.
Displaying on the screen:
1.Average (say average over the previous 60 days) daily range.
2. The range reached on the current day
If at 14-16 (Alpari TP time) the range 2. is near / slightly exceeds (say, +/-10 pips) the range 1. - at this point we open with stoploss, say 50 pips inside the range.
In 90% of cases at least 20 pips are guaranteed. Of course, at the moment of opening the price should be at the range boundary of the current day.
Probably, it is the time of 14-15 hours that is important. If the middle range is reached earlier, it means the start of a big new movement.
Expansion of the middle range occurs during steep moves that are not so frequent.
Manually, it's working out pretty well so far.
Did I understand correctly: we check the time of reaching the middle range value in the current diapason and if it is less than 14 hours according to your strategy we stop all actions until the next day?
Displaying on the screen:
1.Average (say average of the previous 60 days) daily range.
2. The range reached on the current day
If at 14-16 (Alpari TP time) the range 2. is near / slightly exceeds (say, +/-10 pips) the range 1. - at this point we open with stoploss, say 50 pips inside the range.
In 90% of cases at least 20 pips are guaranteed. Of course, at the moment of opening the price should be at the range boundary of the current day.
Probably, it is the time of 14-15 hours that is important. If the middle range is reached earlier, it means the start of a big new movement.
Expansion of the middle range occurs during steep moves that are not so frequent.
Manually, it's working out pretty well so far.
Have I got it right: we should control the time of reaching the middle range value in the current diapason and stop all actions until the next day if the time is less than 14 hours according to your strategy?
From 15 o'clock onwards you can consider the daily ranges as completed. Therefore you may start the game - by all instruments open on the range boundaries inwards,
with a stop loss of 40-50 pips and a take profit of 15-20 pips. Take into account the ratio of the current range to the average range. The closer the value of the current range is to the
of the average range, the more likely the current range is to be closed. After taking profit, you can set limits to the range boundaries again. You can do it this way as well.
work quietly until 6:00 p.m. - 7:00 p.m. Alpari time.
For example, using this method I have managed to take from 15 to 18 hours quietly without too much excitement over 100$ from Forex, I have played with 0.1 lot.
By the way, right now at 18.22 Alpari TP there is a good chance to play with the NZ, EUR and FRANK...
Ну, да. Надо написать индикатор этого соотношения. Тогда все просто - как только значение индикатора на нулевом баре приближается к единице, открываться !
Then wait a minute... one more time: in a ratio of 145/163 - "who's who"? My understanding is:
145 is the width of the "historical" channel (for many days)
163 is the width of the channel for ONE previous day.
Is this correct?
Well, yes. We should write an indicator for this ratio. Then it's simple - as soon as the indicator value on the zero bar approaches one, open !
Then wait a minute... one more time: in a ratio of 145/163 - "hu of hu"? My understanding is:
If you mean the first line, then :
145 - for 60 days preceding the current one (external DayNumber - parameter)
163 is the one reached so far in the present day, the start of which is 00.00 hrs Alpari TP time,
is the distance on the chart between the lines of this colour : _______
163
_______
the exact colour in this editor is not available....
Second line 1.5760/1.5609/151 - max.price_yesterday/min.price_yesterday_range (difference between max and min prices)
No... what the indicator shows is perfectly clear to me, I was asking about your phrase
Надо написать индикатор этого соотношения
No... what the indicator shows is perfectly clear to me, I was asking about your phrase
You should write an indicator of this ratio
It is. That same ratio from the graph is the first line.
Displaying on the screen:
1.Average (say average of the previous 60 days) daily range.
2. The range reached on the current day
If at 14-16 (Alpari TP time) the range 2. is near / slightly exceeds (say, +/-10 pips) the range 1. - at this point we open with stoploss, say 50 pips inside the range.
In 90% of cases at least 20 pips are guaranteed. Of course, at the moment of opening the price should be at the range boundary of the current day.
Probably, it is the time of 14-15 hours that is important. If the middle range is reached earlier, it means the start of a big new movement.
Expansion of the middle range occurs during steep moves that are not so frequent.
Manually, it's working out pretty well so far.
Have I got it right: we should control the time of reaching the middle range value in the current diapason and stop all actions until the next day if the time is less than 14 hours according to your strategy?
From 15 o'clock onwards you can consider the daily ranges as completed. Therefore we may start the game - for all instruments open on the range boundaries inwards,
with StopLoss 40-50 pips and TakeProfit 15-20 pips. Note the correlation of the current range and the average range. The closer the value of the current range is to the
of the average range, the more likely the current range is to be closed. After taking profit, you can set limits to the range boundaries again. You may work in such a way
work quietly until 18:00-19:00 Alpari TP time.
For example, using this method I managed to take from 15 to 18 hours quietly, without too much excitement over 100 quid from Forex, I played with 0.1 lot.
By the way, right now at 18.22 Alpari TP you can play good NZ, EUR and FRANK...
Did I get it right: - if the middle range is reached earlier, we wait for the 14-15 hour Alpari TP and then start trading even though the current range by that time may be much bigger than the middle one (just not smaller)?
Displaying on the screen:
1.Average (say average over the previous 60 days) daily range.
2. The range reached on the current day
If at 14-16 (Alpari TP time) the range 2. is near / slightly exceeds (say, +/-10 pips) the range 1. - at this point we open with stoploss, say 50 pips inside the range.
In 90% of cases at least 20 pips are guaranteed. Of course, at the moment of opening the price should be at the range boundary of the current day.
Probably, it is the time of 14-15 hours that is important. If the middle range is reached earlier, it means the start of a big new movement.
Expansion of the middle range occurs during steep moves that are not so frequent.
Manually, it's working out pretty well so far.
Have I got it right: we should control the time of reaching the middle range value in the current diapason and stop all actions until the next day if the time is less than 14 hours according to your strategy?
From 15 o'clock onwards you can consider the daily ranges as completed. Therefore we may start the game - for all instruments open on the range boundaries inwards,
with StopLoss 40-50 pips and TakeProfit 15-20 pips. Note the correlation of the current range and the average range. The closer the value of the current range is to the
of the average range, the more likely the current range is to be closed. After taking profit, you can set limits to the range boundaries again. You may work in such a way
work quietly until 18:00-19:00 Alpari TP time.
For example, using this method I managed to take from 15 to 18 hours quietly, without too much excitement over 100 quid from Forex, I played with 0.1 lot.
By the way, right now at 18.22 Alpari TP you can play good NZ, EUR and FRANK...
Did I get it right: - if the middle range is reached earlier, we wait for the 14-15 hours Alpari TP and then start trading even though the current range by this time may be much larger than the middle range (as long as it is not smaller)?
You know, I don't really know the answers to all the specific questions. As far as I remember, I don't seem to have seen the average 60-day
range earlier than 14.00 hours on the Alpari TP. If that happens, I would abstain from using the strategy on that day, because it is designed for
It is a typical common market movement, and earlier reaching the average range may be a sign of the coming cardinal shifts.
Today can be considered as a normal, normal day. The current ranges of all instruments are very close to the 60-day average.
I have so far managed to take 126 quid from forex with this strategy.
On the NZ, EUR and FRANK on the nearest boundaries to the price are limiters inside the range with a 10 pt take profit, just in case...