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规则
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Strategy rules
Requirements
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Mt5
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All currency pairs
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H1 timeframe for bias and support/resistance levels
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M5 timeframe for entry model (fvg)
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Adjustable risk amount and risk-reward ratio (currently risk 1% , 1:2 ratio)
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01:00 am - 11:00 am NY time. Easy to adjust if i want to change in future
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Bias
Check the previous H1 candle starting from 00:00 candle (00:00-00:59). Check if bullish (close > open) or bearish (close < open). If open = close then skip and move to the next H1 candle.
The trade window is for the 1h after the bias candle (previous H1 candle).
Example: if the current hour is 04:00 we can only enter a trade from 04:00-05:00. Once the trade window is over then we start again; check H1 candle, in this case 04:00 candle. If bullish then we only take buys from 05:00-06:00
If it's bullish then for the current hour window we will only take buys. If the previous H1 candle is bearish then for the current hour window we will only take sells. Example: the time is currently 07:00. We go to the H1 candle and check the 06:00 H1 candle. If bearish then we will only take sells from 07:00-08:00. If bullish then only buys from 07:00-08:00
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Key levels
Use open price and high/ low price from the previous H1 candle as support lines.
Bullish scenario: open price and low as support
Bearish scenario: open price and High as resistance
Use Previous H1 candle (the same you use to get the bias) to get support lines.
So for example, if it is currently 09:34, the support levels would have been from 08:00 H1 candle.
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Touch confirmation
Price must touch the support levels drawn out from the previous candle during the current hour trade window. Only then can we wait for the entry model. Keep in mind that price must close above support and below resistance otherwise the trade is invalid. This can happen before or after the entry model.
Example 1: current hour starts, price comes down to touch support, taps it by a pip and then has the entry model above it. Trade would be valid.
Example 2: current hour starts, price comes down to touch support, goes even lower, the entry model forms below support line, then before the trade window closes, an M5 candle closes above the support line. Trade is valid. Specifically an M5 candle since that is the time frame for the entry model which we will get into next
Example 3: current hour starts, price comes to touch support, goes even lower, entry model forms, and then the trade window closes whilst price is still below the support line. Trade is INVALID.
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Fvg confirmation
The entry model. A simple fair-value gap. An imbalance. A 3 candle formation that has a gap in the middle. Hopefully you already know how to code this as it is vital. The gap just has to be more than 0. It can be 0.1 pip, 10 pips. As long as all the other rules are followed then you can take any sized gap.
Only bullish fvg for bullish bias. Only bearish fvg for bearish bias.
How it all plays out: You wait for the current hour to open. Then check the H1 candle for previous candle bias. In this example it is bearish. So we note the high and the open as resistance levels. If current price touches a support level within the trade window we then wait for a bearish fvg. If after the close of the fvg the price is already below the support level we touched, then take a sell at market. If the fvg closes and it is still above the resistance level we touched, then wait for an m5 candle to close below the level.
Important: if the open price level was touched then we need to close below the open price before a trade. If both the open and high was touched (which will happen whenever the high is touched, then we need a close below just the high. So if the open price is touched and there is a bearish fvg that closes below the high price it is invalid and the high was not touched. There needs to be an m5 candle close below the open price in that scenario.
Only one trade per window
Entry only within the window, exit is only breakeven, stop loss or take profit. Can take as long as it wants.
Trade Management
The stoploss will be the lowest point of the current hour at the time of entry.
The take profit is a 1:2 rr so double whatever the stoploss is.
Break-even Rule
After entry, if price crosses the high (for buy) or low (for sell) of the previous H1 candle, move SL to breakeven.
if at entry point, price is already above the previous H1 candle high/low then no trade to be taken
Important: if BEFORE the support line is touched, the high/ low of the previous candle is breached, then count that as the high/low needed to be broken for the breakeven rule to set in, so that would be the current candles high/low. In other words if the current H1 candles high is higher than the previous H1 candles high then use the current candles high (the highest of the two) same for the low
Other than that the trades go to stop loss or take profit. No manual trading
Extremely Important: Needs to work well for backtesting.
