Embarrassed breakout strategy

abacus23 · 2022-11-07T15:09:49+00:00

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.

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11/07/2022 at 4:09 PM #203765 quote

abacus23
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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

11/08/2022 at 6:16 AM #203786 quote
JS
Participant

Master
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
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Many thanks. I’ll give that a try.
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