Topic: Price action strategy

HI,
I'm new to your EA builder and would like some advice how to start.
What I want is to open a trade long if the the current bar opens higher than the previous bar high, but go short if the bar open is higher than the last bar close but lower then last bar high.

Any advice please on how to accomplish this?

Many thanks,


Mike

Re: Price action strategy

Try the attached. With your first parameter for long the indi tends to go short more than long. Open it up and amend where necessary to suit your requirements.

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Current bar opening position test.cs 4.11 kb, 21 downloads since 2012-08-30 

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3 (edited by blott 2012-08-30 21:49:11)

Re: Price action strategy

Jagmanmick wrote:

Try the attached. With your first parameter for long the indi tends to go short more than long. Open it up and amend where necessary to suit your requirements.

Thanks Jagmanmick, I'll give that a try.

Having blithly said that, how do I open/import/read the file please?

Cheers,


Mike

Re: Price action strategy

Download it to the custom indicators folder in your FSB folder. Restart FSB and it should be available behind the "Add an Opening logic condition button". You can then add other conditions to your strategy to see how it works.

Re: Price action strategy

Jagmanmick wrote:

Download it to the custom indicators folder in your FSB folder. Restart FSB and it should be available behind the "Add an Opening logic condition button". You can then add other conditions to your strategy to see how it works.

Ok, thanks. I'll play with that.

Cheers,


Mike

Re: Price action strategy

blott wrote:

HI,
I'm new to your EA builder and would like some advice how to start.
What I want is to open a trade long if the the current bar opens higher than the previous bar high, but go short if the bar open is higher than the last bar close but lower then last bar high.

Any advice please on how to accomplish this?

Many thanks,


Mike

In forex, a new bar will very rarely open higher than the previous bar high. The only time this is really likely to happen is when the market opens after being closed at the weekend or the market is fast due to some news at the exact time the bar opens.

Re: Price action strategy

SpiderMan wrote:
blott wrote:

HI,
I'm new to your EA builder and would like some advice how to start.
What I want is to open a trade long if the the current bar opens higher than the previous bar high, but go short if the bar open is higher than the last bar close but lower then last bar high.

Any advice please on how to accomplish this?

Many thanks,


Mike

In forex, a new bar will very rarely open higher than the previous bar high. The only time this is really likely to happen is when the market opens after being closed at the weekend or the market is fast due to some news at the exact time the bar opens.

Hi Spiderman,
It is the weekend gap I am interested in. Thanks for your comment.

Cheers,


Mike

Re: Price action strategy

blott wrote:

Hi Spiderman,
It is the weekend gap I am interested in. Thanks for your comment.

Cheers,


Mike

I thought you got it sorted, http://forexsb.com/forum/post/3557/#p3557