Topic: Help creating a strategy for a newbie
Hello for everybody here in the forum.
I am really deciding to purchase FSB in the following days, with demo version now I check the capabilities of the program. I ask for advice the more experienced traders here how to create my strategy.
I would like to set a logic for entry the following way:
I would use limit orders. I use only daily timeframe. Take the recent value of the 20 period of ATR. Multiply this value with an another multiplier(set by myself). The result I want to add to the last bar high or deduct from last bar low, depends on what order I want to place, buy limit or sell limit order. This value I use to place my entry order.
EURUSD: Daily bar, ATR value for yesterday bar is: 0.01028
The optimized multiplier wich I would use example: 0.15.
0.01028 X 0.15= 0.001542
Low of the yesterday daily bar is 1.08211
Deduct my calculated value from the low I get my entry buy limit level
1.08211 - 0.001542=1,07183
My entry price is 1,07183.
When the today's (recent) bar open, after midnight the expert advisor place a buy limit order at calculated price level.
Is it possible to construct this system in FSB?
I tried to do it myself but I found difficult to make it.
Thanks for your help in advance!