While searching for profitable strategies, I came across something really simple in various forums and websites.
Basically it’s a trend following system and here we are only looking at the long side.
The trend is long when the price is above a higher average.
If the trend is long we take a long position after the morning tussle in the Dax at a late lunch. We hold the position overnight until the next morning and then liquidate it.
In my systems I like to set a filter after the time. Here for seasonal reasons some months and because of the over-weekend-risk friday are excluded.
As an explanation can be considered that the Dax follows the strong development of the S&P500 and DowJones shortly before and with their opening bell.
//-------------------------------------------------------
// late lunch trade
// instrument dax40
// timezone europe, berlin
// timeframe 30m
// created and coded by JohnScher
//-------------------------------------------------------
defparam cumulateorders= false
//defparam flatafter = 213000 // works too
once ordersize = 1
tm = openmonth <> 6 and openmonth <> 7 and openmonth <> 8
td = opendayofweek >= 1 and opendayofweek <= 4
tt = time = 133000
c = close > exponentialaverage [6] (close)
if tm and td and tt and c then
buy ordersize contracts at market
endif
if onmarket and time = 080000 then
sell at market
endif
set target %profit 1.5
// until then