Crazy idea? Open price strategies

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  • 03/16/2021 at 9:52 AM #164305 quote
    Khaled
    Participant
    Veteran

    Hello everyone,

    I’ll not speak here about the actual “repainting”, where the signal given on past candles can change with the current price action.

    I want to speak about ways to avoid that within the same new candle, say 15′, a Buy Signal generated at minute 6 (for example) doesn’t move back to neutral at minute 8 or worst change to Sell after you enter the trade. This usually happens because the new information generated within the bar can influence the behaviour of the signal or indicator.

    One obseravtion though, the only variable that doesn’t change within a new candle is the opening price. So, has anyone tried startegies based on “Open” price, Average[x](Open), RSI[Y](open), etc.? and more generally what indicators or trick do you generally use to avoid that the signal changes within the same bar?

    Thank you

    03/16/2021 at 10:19 AM #164310 quote
    robertogozzi
    Moderator
    Master

    You can easily work it out watching only minute 15 of a 15-minute chart (simply put… wait its closure).

    Try applying your idea to a Car race… award the winner at the start!

    Khaled thanked this post
    03/17/2021 at 1:26 PM #164487 quote
    Nicolas
    Keymaster
    Master

    Using the Open price of the candle is pretty much the same as using the Close of the previous one. Until a bar is closed, you can’t know if it will turn green or red.. that’s how it is! 😀

    Khaled thanked this post
    03/17/2021 at 1:45 PM #164489 quote
    Khaled
    Participant
    Veteran

    Thank you both. Any clue on how to avoid (or at least minimize) false signals. Is there one Indicator that can be wisely added as a filter ? I’m not looking for the Holy Gral, but just to avoid “Faux Départs”.

    Thanks

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Crazy idea? Open price strategies


General Trading: Market Analysis & Manual Trading

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Khaled @khaled Participant
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This topic contains 3 replies,
has 3 voices, and was last updated by Khaled
5 years ago.

Topic Details
Forum: General Trading: Market Analysis & Manual Trading
Language: English
Started: 03/16/2021
Status: Active
Attachments: No files
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