Open Range Breakout in a range

Forums ProRealTime English forum General trading discussions Open Range Breakout in a range

This topic contains 4 replies, has 3 voices, and was last updated by avatar GraHal 1 year, 11 months ago.

Currently, there are 0 users and 1 guest visiting this topic.
View all attachments
Viewing 5 posts - 1 through 5 (of 5 total)
  • #68672

    Hi all: The idea looks at 5minutes candles between 7:00:00CET and 9:00CET and determines the highest and lowest price values during this period.

    AT 9:00:00 CET the system decide between one of the alternatives I or II, depending on:

    Alternative I:
    If the 5 minutes candle closed before market opening at 9:00:00CET closed at the higher part of the range (lowest/highest between 8:00:00CET and 9:00:00CET), the system activate automatically at 9:00:00CET two pending stop orders on market:

    1st: a long stop order at the highest detected between 8:00:00CET and 9:00:00CET and
    2nd: a short stop order at 20 pips below the price before.
    Profit Target/TP will be 5 pips of the long and short entry prices.

    Alternative II:

    If the 5 minutes candle closed before market opening at 9:00:00CET closed at the lower part of the range (lowest/highest between 8:00:00CET and 9:00:00CET), the system activate automatically at 9:00:00CET two pending stop orders on market:

    1st: a short stop order at the lowest detected between 8:00:00CET and 9:00:00CET and
    2nd: a long stop order at 20 pips above the price before.
    Profit Target/TP will be 5 pips of the long and short entry prices.

     

    In all cases:

    I:If an order has been executed (long or short), the system does not touch the other pending order.

    II: If an order has been executed (long or short), the units of the other pending order must be multiplicate as follows (in case the price  don´t hit the TP of the before order):Multiplicate for 2nd order: 1st order units x 3. Multiplicate for 3rd and next orders: before units x 2 (1,3,6,12,24, 48,…)

    III. If the the first order or one of the next orders hit the TP, all orders must be closed at this moment.

    Thanks for your help…

    B.

     

    #68674

    Hi Scalp

    Have you tried to code it?

    Post on here what you have so far (even if only a few lines to make a start)  then you may get more help?

    Cheers
    GraHal

    #68688

    No. This is the matter, i dont know hot to code it and need help…

    #68698
    Leo

    There are multiple forum about this topic, even an strategy somewhere in the library.

    Nicolas, the search function of the home page works not so much as desired. What I do if I want to search something here is : in google I write the topic and the word http://www.prorealcode.com

    #68749
Viewing 5 posts - 1 through 5 (of 5 total)

Create your free account now and post your request to benefit from the help of the community
Register or Login