Trade the Day Open Fibo - MT4/MT5 Resources
Hello everyone.
I found this strategy had a good chance to be profitable on GBPUSD.
My backtesting since January to Feb 16th 2007 on GBPUSD is 1000 pips gain(excel attached).
I'll do forward testing this week with demo account.
The Strategy based on Open Price and Static Fib Numbers.
GBP/USD example opens today: 1.9634
Add a horizontal line above today's open:
HL1 = 1.9634 + 34 = 1.9668
HL2 = 1.9634 + 89 = 1.9723
HL3 = 1.9634 + 144 = 1.9778
Add a horizontal line below today's open:
HL4 = 1.9634 - 34 = 1.9600
HL5 = 1.9634 - 89 = 1.9545
HL6 = 1.9634 - 144 = 1.9490
*Indicator attached
Insert DayOpenFib twice on the chart with TF < H4.
-First set the parameter up=true
-2. Set the parameter up= false
rule:
Place Buy Stop order at HL1, SL = Today Open, TP1= HL2, TP2 = HL3.
Place Sell Stop order at HL4, SL = Today Open, TP1= HL5, TP2 = HL6.
If Buy stop order executed, change Sell Stop order = Today Open, SL = HL1, TP1= HL4, TP2= HL5.
If a sell stop is executed, the opposite action is performed.
Any opinions are very welcome.
I found this strategy had a good chance to be profitable on GBPUSD.
My backtesting since January to Feb 16th 2007 on GBPUSD is 1000 pips gain(excel attached).
I'll do forward testing this week with demo account.
The Strategy based on Open Price and Static Fib Numbers.
GBP/USD example opens today: 1.9634
Add a horizontal line above today's open:
HL1 = 1.9634 + 34 = 1.9668
HL2 = 1.9634 + 89 = 1.9723
HL3 = 1.9634 + 144 = 1.9778
Add a horizontal line below today's open:
HL4 = 1.9634 - 34 = 1.9600
HL5 = 1.9634 - 89 = 1.9545
HL6 = 1.9634 - 144 = 1.9490
*Indicator attached
Insert DayOpenFib twice on the chart with TF < H4.
-First set the parameter up=true
-2. Set the parameter up= false
rule:
Place Buy Stop order at HL1, SL = Today Open, TP1= HL2, TP2 = HL3.
Place Sell Stop order at HL4, SL = Today Open, TP1= HL5, TP2 = HL6.
If Buy stop order executed, change Sell Stop order = Today Open, SL = HL1, TP1= HL4, TP2= HL5.
If a sell stop is executed, the opposite action is performed.
Any opinions are very welcome.












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