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Forex Forum → Forex Strategies → Bar opening and previous bar closing Strategy

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Posts: 4

Topic: Bar opening and previous bar closing Strategy

Hello,
Here is the strategy generated by generator:

[Strategy Properties]
     A same direction signal - Does nothing
     An opposite direction signal - Closes the position
     Permanent Stop Loss - 3800
     Permanent Take Profit - 1810
     Break Even - 2000

[Opening Point of the Position]
     Bar Opening
     Enter the market at the beginning of the bar
     Base price  -  Open

[Opening Logic Condition]
     Previous Bar Closing
     The position opens below the previous Bar Closing
     Base price  -  Previous Bar Closing

[Closing Point of the Position]
     Week Closing
     Exit the market at the end of the week
     Base price  -  Close

Hovever I am not sure if it makes sense at all. When the position is opening? Is it opening Only at open of new bar when it is higher than previous bar closing? Or it places stop order which is activated when the price crosses price from yesterday?
Does the strategy generated has any sense for forex when previous close = open?

Re: Bar opening and previous bar closing Strategy

Generated strategies are logically correct.

In the current example:
Long position opens at Open price of the bar
When: Current Open is lower than previous Close. (It means a downward gap between Close and Open)

Short position opens at Open
When: Open is higher than previous close. (upward gap)

A possible logical explanation is that market fills in the gaps. So when we have an downward gap, we open long and when we have a upward gap, we open short.

Does the strategy generated has any sense for forex when previous close = open?

When there is no gap we do not open a position. A gap may appear on Friday close and Monday Open. That's why Position is closed at the end of the week. smile Generator knows smile that a weekend gap, must be a valid signal for the week direction and it closes the position at the next Friday Close.

A gap may appear in a regular data also when we have a tick at 23:59:59.

Re: Bar opening and previous bar closing Strategy

Just make sure you haven't ticked the option under market that fills in the data gaps!

Re: Bar opening and previous bar closing Strategy

(Topic split)

In FSB v2.73 "Fill in data gaps" option fills only working days gaps and leaves weekend gaps intact.
This will prevent entry during the working days for that strategy.

Also Day of Week indicator can be used for that purpose:

[Opening Logic Condition]
     Day of Week
     Enter the market between the specified days
     From (incl.)  -  Monday
     To (excl.)  -  Monday

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