Dear I have tried to build a strategy on the following could you please check whether i am working properly, Kindly check the attached
A price-action portfolio FX strategy This indicator is build according to the description in the last Currency Trader Magazine. Here is the description : The trading strategy The final strategy consists of only five comparisons between daily open, high, low, and close prices — there are no other parameters. The strategy is always in the market: As a “stop-and-reverse system,” long trades are exited on short-entry signals and vice versa. The trading rules (along with simple formulas for clarity) are:
Long entry (short exit): 1. Today’s close is below its open (Close[0] < Open[0]). 2. Today’s open is above the low two days ago (Open[0]> Low[2]). 3. Today’s range is greater than the range seven days earlier (Range[0] > Range[7]). 4. Yesterday’s close is above the close seven days ago (Close[1] > close[7]). 5. Yesterday’s close is above the high four days ago (Close[1] > high[4]).
Short entry (long exit): 1. Today’s close is above its open (Close[0] > Open[0]). 2. Today’s open is below the high two days ago (Open[0]< High[2]). 3. Today’s range is greater than the range seven days earlier (Range[0] > Range[7]). 4. Yesterday’s close is below the close seven days ago (Close[1] < close[7]). 5. Yesterday’s close is below the low four days ago (Close[1] < Low[4]).
In the formulas, “0” refers to the most recently completed daily bar, “1” is the day before that, etc. Trades are entered the next day (tomorrow) at the market (on the open)
Attachments: |
Daily.vfs [35.21 KiB]
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