Topic: Ross Hook
First, thank you for a brilliant piece of software. I love it.
My question regards the Ross Hook.
Can you please explain exactly how the software defines a Hook and what the entry logic is?
I'd like to be able to manually trade the exact logic the software uses.
Any help appreciated.
A Ross Hook is a chart formation of four bars. The third bar of an Up Ross Hook has the highest high. The first bar is lower than the second and the second is lower than the third one. For a Down Ross Hook is opposite.
Originally we have to trade at a Ross Hook when it appears in a trending market. This indicator in Forex Strategy Builder doesn't detect the trend alone. In order to determine the trend we have to use another indicator as an Opening Logic Condition.
If you want to dig into the source code it is here: Ross Hook - source code
For more info see this strategy: Ross Hook and Traders Trick Entry