Topic: Setting up my strategy
The program looks good but I am having trouble setting it up to back test my strategy.
The strategy is:
1) take the total range from the previous Monday to Friday week and calculate 30% of the range. The range being the week high minus the week low
2) on the Monday morning open,
- buy on a stop at the opening price plus the 30% calculated above
- sell on a stop at the opening price minus the 30% calculated above
if we buy then set a stop at the opening price minus 10% of last weeks range
if we sell then set a stop at the opening price plus 10% of last weeks range
4) Any profit exit on the next monday open price
I also plan on putting trailing stops on the orders but i have already seen how to do that.
Thank you very much for your help.