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Day Trading Monitor

The Day Trading Monitor analyzer is designed for multi-currency trading in a single day.

The analyzer displays the difference between the current price and the daily opening price in pips for 14 currency pars, and it can be run on any currency pair and any timeframe.

The analyzer has no sensitivity adjustment parameters, the MP_X and MP_Y input parameters set the result table location on the chart.

The trading strategy is based on the following assumption:

  • If the current price moved from the daily opening price to 15-20 pips by the time the main trading session starts, then there is a high probability that the price moves in the same direction. Therefore, if the rice difference on a currency pair is positive - open a Buy order and place StopLoss slightly below the daily opening price.
  • Conversely, if the price difference is negative - Open a Sell order and place StopLoss slightly above the daily opening price.

The analyzer also displays the amount of trades of the opened Buy orders, the amount of trades of the opened Sell orders, and the result of the trading.

The trading technique using this strategy is demonstrated in the video below.

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