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Posts: 8

Topic: Strategy on Eurusd Weekly

Hello Traders,
Since some time i'm thinking about a strategy on EURUSD Weekly chart.
I think it's very simple to realize but i not found the right settings, so i write you get a solution:


The open position: At the end of the bar in direction of the close, so if we have a an upper close i'll open a buy position and viceversa.

Close position: At the beginning of the next open bar.


I would like to know if there is some advantage trying to exploit the weekly overnight gap, on EURUSD.

Thank you in advance for any help.

Mauro

Re: Strategy on Eurusd Weekly

I would do this like this:

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

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

[Closing Point of the Position]
     Week Closing 2
     Exit the market at the end of the day
     Base price  -  Close

Re: Strategy on Eurusd Weekly

I think that one is another strategy, maybe i was not clear.

The logic is to buy at the end of the week on friday(If the close is up) and to keep my position overnight to exit when the market will open on sunday.

Although in a weekly chart i'm allowed to open a position "at the end of the bar", i can't close my position "at the beginning of the next one.
So i'm wondering if could there be some possibility to set it in a different timeframe(daily for example), but i didn't get any result.

Re: Strategy on Eurusd Weekly

[Opening Point of the Position]
     Bar Closing
     Enter the market at the end of the bar
     Base price  -  Close

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

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

[Closing Point of the Position]
     Exit Hour
     Exit the market before the specified hour
     Base price  -  Close
     Exit hour  -  24

5 (edited by coldfire2 2015-03-24 18:50:53)

Re: Strategy on Eurusd Weekly

Hey footon, i appreciate the effort but it's not yet the strategy.

In a Daily chart, if i open a a position on friday with a the condition "The position opens above the previous bar opening", it refers to the Thursday bar, and not at the close in the weekly direction.
In addition, as exit point, i should close the position at 23,00 of sunday(when the market open), and not at 24,00 one hour later.

Thank you very much the same.

Mauro

Re: Strategy on Eurusd Weekly

coldfire2 wrote:

Hey footon, i appreciate the effort but it's not yet the strategy.

In a Daily chart, if i open a a position on friday with a the condition "The position opens above the previous bar opening", it refers to the Thursday bar, and not at the close in the weekly direction.
In addition, as exit point, i should close the position at 23,00 of sunday(when the market open), and not at 24,00 one hour later.

Thank you very much the same.

Mauro

Oh, the weekly direction, yes, that's a bit tricky, I wonder why it's not possible to use LTF in these types of indis...

As to your addition, it's perfectly understandable that Exit Hour indicator has settable parameters, I cannot know what broker you use and in which timezone, you should be able to figure it out yourself and adjust the indi accordingly. It takes only one click with very little effort... I try to teach you to fish, but you demand the fish, but I'll still only teach! wink

Re: Strategy on Eurusd Weekly

Eheheh, you're right.

Even setting the right timezone, the problem about the open stays.
It's a limit of the program.

Thank you again.

Re: Strategy on Eurusd Weekly

It's easier to say something is program's limitation, than to power up the grey cells. There's one indi which will do the job but I haven't found it, in the meantime read this thread forexsb.com/forum/topic/18/whiteblack-previous-bar/, understand it and adapt the teaching with the help of LTF. I emphasize - this strategy can be done with no problems.

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