Trading is as simple as 1-2-3
When the price is higher than the opening price, it is rising. On the contrary, when the price is lower than the opening price, the price will fall. It's a good idea not to short when prices are rising and not to buy when prices are falling. Of course, most traders are looking for reversals but are impatient and happy to pull the trigger, therefore buying when they should be selling and vice versa.
Selling below the opening price of the bar H1 immediately after the bar reaches its highest point will bring profit. In summary, a bar reaches its highest point and closes. The next bar fails to form a higher high and reverses. Sell when the price falls below the opening price of the current bar.
Buying above the opening price of bar H1 immediately after the bar forms its lowest point will bring profit. In summary, a bar forms a low and closes. The next bar failed to form a lower low and reversed. Buy when the price rises above the open price of the current bar.
Please understand that none of these are original or new and are for educational purposes only. You may find that your results may vary. Please consult an accredited financial expert before spending real money. Forex trading can be risky. You have been warned!
“Perfection is not when you have nothing to add, but when you have nothing to take away.” - Antoine de Saint-Exupéry
"It's not an increase, it's a decrease. The less technical you are, the better you are." -Bruce Lee
Edited on December 23, 2016:
It has been pointed out that rule #3 is open to multiple interpretations.
See modifications on chart.
You want to trade away from the daily high after price makes a new daily high. Trade away from the daily low after price makes a new daily low.
You should always use this method for daily opening trades.
Indicators and templates are in the attachment. Look for the paperclip icon in the upper right corner of your browser.
EA distracts from the method.
You have been warned.
If you want to post code in this thread, please post the MQ4 file.
Posting only EX4 files is not welcome.
You may wonder why.
EX4 files may contain harmful content.
MQ4 files are compiled on your computer, so you can feel relatively safe.
If the encoder "disappears" then the code cannot be updated if/when the encoder fails and the code cannot be improved or enhanced.
Who wants to be at the mercy of some invisible programmer?
New to this thread, if you'd like the question answered, please copy/paste the following message when asking the question:
I've read the 1st article and example link but still have a problem
Selling below the opening price of the bar H1 immediately after the bar reaches its highest point will bring profit. In summary, a bar reaches its highest point and closes. The next bar fails to form a higher high and reverses. Sell when the price falls below the opening price of the current bar.
Buying above the opening price of bar H1 immediately after the bar forms its lowest point will bring profit. In summary, a bar forms a low and closes. The next bar failed to form a lower low and reversed. Buy when the price rises above the open price of the current bar.
Please understand that none of these are original or new and are for educational purposes only. You may find that your results may vary. Please consult an accredited financial expert before spending real money. Forex trading can be risky. You have been warned!
“Perfection is not when you have nothing to add, but when you have nothing to take away.” - Antoine de Saint-Exupéry
"It's not an increase, it's a decrease. The less technical you are, the better you are." -Bruce Lee
Edited on December 23, 2016:
It has been pointed out that rule #3 is open to multiple interpretations.
See modifications on chart.
You want to trade away from the daily high after price makes a new daily high. Trade away from the daily low after price makes a new daily low.
You should always use this method for daily opening trades.
Indicators and templates are in the attachment. Look for the paperclip icon in the upper right corner of your browser.
EA distracts from the method.
You have been warned.
If you want to post code in this thread, please post the MQ4 file.
Posting only EX4 files is not welcome.
You may wonder why.
EX4 files may contain harmful content.
MQ4 files are compiled on your computer, so you can feel relatively safe.
If the encoder "disappears" then the code cannot be updated if/when the encoder fails and the code cannot be improved or enhanced.
Who wants to be at the mercy of some invisible programmer?
New to this thread, if you'd like the question answered, please copy/paste the following message when asking the question:
I've read the 1st article and example link but still have a problem
Attachment to original post (1)
📦 Summary of post attachments (23)
Below are all the files shared in the reply (23).
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •