Crazy idea? Open price strategies

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

  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

  

  Khaled

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

  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!

   

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  Khaled

  

  robertogozzi

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  03/17/2021 at 1:26 PM #164487
  Nicolas

  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! 😀

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  Khaled

  

  Nicolas

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  03/17/2021 at 1:45 PM #164489
  Khaled

  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

  

  Khaled

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