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Check out the new article: Trader-friendly stop loss and take profit.
Author: Aleksej Poljakov
nice ! what do you think about local time! your data spans time but does not pinpoint >>>> location/geographic , make sense?
eg, are there certain timeszones we should do A,B,C and not D,E,F, ?
It would involve a multi-variant backtest with many permutations, but.. each market is very different.
nice ! what do you think about local time! your data spans time but does not pinpoint >>>> location/geographic , make sense?
eg, are there certain timeszones we should do A,B,C and not D,E,F, ?
It would involve a multi-variant backtest with many permutations, but.. each market is very different.
It is not only possible, but also necessary to do as you suggest.
For example, I decided to open positions at 1, 5, and 13 o'clock. And I want them to be closed until the end of the day. Then, for each time, I need to calculate my own separate SL and TP. I move on and want to take into account not only the time of day, but also the day of the week. Then I will need to calculate SL and TP for each day of the week and each hour separately.
Another example. I want support and resistance levels, but forward in time. Then, for each bar opening time, I will have my own SL and TP values.