Ok, let me think of the best way to do it as an automatic trading program. So you are taking contrarian “bouncing” orders on daily range ATR? right?
yes.. bouncing off from Daily ATR at open time as the indicator works well now!! if you see FTSE today is a beautiful one you have two opportunities to short!! automatic trading program is a great idea..
if possible to make the Screener will allow to filter the markets.. let say 10pips near the ATR if we get a signal.. then can look for a Uturn from a smaller time frame if you don’t want to aggressively enter the market.. if that make sense!!
automatic trading program is a great idea.. […] if possible to make the Screener
Sorry but do you want a screener to scan the market for possible near entries (ProScreener) or an automatic trading system (ProOrder) that you’ll have to put on every single instrument?
I would say a ProScreener that give a us a possible entries (10pips before ATR maybe). so we can go through and pick, would be great!
Dont like the idea of putting all instruments risk all on (proOrder)!
This screener will catch all instruments that are at least 80% from ATR down or up.
// --- parameters
ATRperiod = 14
// ---
dTR = 0
once avg=close
if barindex>254-ATRperiod then
for i = 1 to ATRperiod
dTR=dTR+max(abs(high[i]-low[i]),max(abs(high[i]-close[i+1]),abs(low[i]-close[i+1])))
next
endif
avg = dTR/ATRperiod
htr = open+avg[1]
ltr = open-avg[1]
upratio = (close-ltr)/(htr-ltr)
dnratio = (htr-dclose(0))/(htr-ltr)
testup = upratio>=0.8
testdn = dnratio>=0.8
if testup then
ratio=upratio
elsif testdn then
ratio=dnratio
endif
screener[testup or testdn] (ratio)
use it on Daily timeframe only.
thanks very much. i will try this and update you!! Thank you
