Embarrassed breakout strategy

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  • 11/07/2022 at 4:09 PM #203765 quote
    abacus23
    Participant
    Average

    Just spent most of the day and I’m embarrassed, I’ve been renovating my house for the last few years, come back for a bit of relief, but I can’t seem to programme anything.

    This is really simple.

    For a buy, on next candle open. 9am.

    Between 8am-9am, the candle body, must close in-between previous periods (7am-8am) high and low.

    Price above EMA9.

    RSI over 50.

    No trades, if conditions not met.

    Stop: ATR +15, if ATR under 20,

    Stop: ATR+30, if ATR over 20

    Target: ATR of period between 7am-8am.

    For a sell, on next candle open, 9am.

    Between 8am-9am, the candle body, must close in-between previous periods (7am-8am) high and low.

    Price below EMA9.

    RSI under 50.

    No trades, if this doesn’t happen.

    Stop: ATR +15, if ATR under 20,

    Stop: ATR+30, if ATR over 20

    Target: ATR of period between 7am-8am.

    Thanks in advance.

    UKX-1-hour.png UKX-1-hour.png
    11/08/2022 at 6:16 AM #203786 quote
    JS
    Participant
    Senior

    Hi @abacus23

    Try this… may be renovated 😉

      
    TimeFrame(Hourly, UpdateOnClose)
EMA9 = Average[9,1](Close)
xRSI = RSI[14](Close)
xATR = AverageTrueRange[14](Close)

If OpenTime = 080000 and Close < High[1] and Close > Low[1] and Close > EMA9 and xRSI > 50 then
Buy 1 Contract at Market
If xATR < 20 then
Set Stop Loss (xATR + 15) * PipSize
Else
Set Stop Loss (xATR + 30) * PipSize
EndIf
Set Target Profit xATR[1] * PipSize
EndIf

If OpenTime = 080000 and Close < High[1] and Close > Low[1] and Close < EMA9 and xRSI < 50 then
SellShort 1 Contract at Market
If xATR < 20 then
Set Stop Loss (xATR + 15) * PipSize
Else
Set Stop Loss (xATR + 30) * PipSize
EndIf
Set Target Profit xATR[1] * PipSize
EndIf
    Midlanddave and abacus23 thanked this post
    11/08/2022 at 1:28 PM #203794 quote
    abacus23
    Participant
    Average
    Many thanks. I’ll give that a try.
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Embarrassed breakout strategy


ProOrder: Automated Strategies & Backtesting

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abacus23 @abacus23 Participant
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This topic contains 2 replies,
has 2 voices, and was last updated by abacus23
3 years, 3 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 11/07/2022
Status: Active
Attachments: 1 files
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