Topic: How to build this strategy?
I am a total newbie, both for Forex trading and for this forum.
It all sounds really exciting and promising! But I have a lot to learn....
Maybe someone can help me in finding a way to develop the following strategy:
If the day before the trade the range is higher than 140 pips, I would like to enter the day after, if and only if the price is 140 pips or more higher than the day's low (long condition) or 140 pips or more lower than the day's high (short condition). Then, I would like to exit the next day (i.e. the day after the enter), at the end of the day, unless a 60 pips loss comes out.
I have tried to implement this in the following way:
I know for sure that something is already wrong, for example in the Opening Logic Condition the Bar Range indicator should always rise, but in the strategy I don't have this as a costraint (is there any more suitable indicator, or combination to do that?).
Thanks in advance for your expert help!