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Forex Software → Technical Indicators → Open long if close was higher than open yesterday.

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Posts: 8

Topic: Open long if close was higher than open yesterday.

Hello,
I would like to have indicator which allows me going long if yesterday close was higher than yesterday open.
Is such indicator already available in FSB?

Re: Open long if close was higher than open yesterday.

so you want to go long if the previous candle was bullish?

Re: Open long if close was higher than open yesterday.

You can do this by selecting a one day moving average and go long when it rises.

Re: Open long if close was higher than open yesterday.

Spiderman, I am not sure if it works in that way. Does moving avg take into account both open and close price? IMO 1 day SMA will be indicating for yesterday close price. BTW I am working also on markets who are closed (stock, indexes) where close price from previous bar is different than next open price.

SpiderMan wrote:

You can do this by selecting a one day moving average and go long when it rises.

Re: Open long if close was higher than open yesterday.

kazik1616 wrote:

Spiderman, I am not sure if it works in that way. Does moving avg take into account both open and close price? IMO 1 day SMA will be indicating for yesterday close price. BTW I am working also on markets who are closed (stock, indexes) where close price from previous bar is different than next open price.

SpiderMan wrote:

You can do this by selecting a one day moving average and go long when it rises.

You have answered your own question. With forex the close of one bar is to all intents and purposes the same as the open of the next (except at weekends) If there is a market closed period between each day this may not work. Unfortunately I don't know of any other way to do it.

Re: Open long if close was higher than open yesterday.

Why close when you can use median price?

Re: Open long if close was higher than open yesterday.

Footon, I am not sure what you mean. Could you elaborate you thought? You can also provide sample strategy file or youtput from strategy preferences.

footon wrote:

Why close when you can use median price?

Re: Open long if close was higher than open yesterday.

Base price median, not close.

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