True Asian Range (TAR)

• 03/29/2023 at 3:24 PM #212436
  Fritz

  Dear all,

  I am trying to code a strategy with parameters as below:

  • Assumption: The range (or box) created with both “highest” and “lowest” in the period 00h00 – 06h00 (London Time) is supposed to be filled during western sessions (London, NY).
  • Ordering: BUY: Price crosses over the “lowest” of the range / BUY EXIT: Price = “highest” of the range / SELL: Price crosses under the “lowest” of the range / SELL EXIT: Price = “lowest” of the range.
  • Frequency: Each day, only 1 possibilty: BUY or SELL or no trade (no trade if the price don’t need liquidity on support/resistance-levels created by the range and moves linearly up- or downside).
  • Scope of Use: Forex-Main Currencies, excepted the most active ones during the range (JPY, AUD, NZD) – To be checked!

  Based on a Nicolas Video (“How to create a breakout box between 2 hours” – (67) How to create a breakout box between 2 hours – ProRealTime – YouTube), I have tried to build an indicator and also an auto-trading-code (see below), but I am not satisfied with both of them.

  I would be very thankful for each help and would share with you the afterwards optimization of this strategy (for example, by adding  a stochastic or price-action-parameters).

  Thanks & Regards

   

  INDICATOR:

  if intradaybarindex=0 then maxprice = 0 minprice = close*100 endif tcondition = time >= 010000 and time <= 070000 if tcondition then maxprice = max(maxprice, high) minprice = min(minprice, low) endif return maxprice, minprice

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  if intradaybarindex=0 then maxprice = 0 minprice = close*100 endif   tcondition = time >= 010000 and time <= 070000 if tcondition then maxprice = max(maxprice, high) minprice = min(minprice, low) endif   return maxprice, minprice

   

   

   

  AUTO-TRADING:

  // Festlegen der Code-Parameter DEFPARAM CumulateOrders = False // Kumulieren von Positionen deaktiviert IF Time = 070000 then HAUT = highest[6](high) BAS = lowest[6](low) endif AMPLITUDE = abs(haut - bas) c3 = (close CROSSES under haut) c4 = (close CROSSES over bas) IF not longonmarket and c4 THEN BUY 1 contract AT MARKET ENDIF IF not shortonmarket and c3 THEN sellshort 1 contract AT MARKET ENDIF SET STOP PLOSS 20 set target profit = amplitude

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  // Festlegen der Code-Parameter DEFPARAM CumulateOrders = False // Kumulieren von Positionen deaktiviert   IF Time = 070000 then HAUT = highest[6](high) BAS = lowest[6](low) endif   AMPLITUDE = abs(haut - bas) c3 = (close CROSSES under haut) c4 = (close CROSSES over bas)   IF not longonmarket and c4 THEN BUY 1 contract AT MARKET ENDIF   IF not shortonmarket and c3 THEN sellshort 1 contract AT MARKET ENDIF   SET STOP PLOSS 20 set target profit = amplitude

   

  

  Fritz

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  03/30/2023 at 8:30 AM #212497
  Nicolas

  The code seems right to me, just change the last line and add GRAPHONPRICE to visualize the levels:

  // Festlegen der Code-Parameter DEFPARAM CumulateOrders = False // Kumulieren von Positionen deaktiviert IF Time = 070000 then HAUT = highest[6](high) BAS = lowest[6](low) endif AMPLITUDE = abs(haut - bas) c3 = (close CROSSES under haut) c4 = (close CROSSES over bas) IF not longonmarket and c4 THEN BUY 1 contract AT MARKET ENDIF IF not shortonmarket and c3 THEN sellshort 1 contract AT MARKET ENDIF SET STOP PLOSS 20 set target profit amplitude graphonprice haut graphonprice bas

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  // Festlegen der Code-Parameter DEFPARAM CumulateOrders = False // Kumulieren von Positionen deaktiviert   IF Time = 070000 then HAUT = highest[6](high) BAS = lowest[6](low) endif   AMPLITUDE = abs(haut - bas) c3 = (close CROSSES under haut) c4 = (close CROSSES over bas)   IF not longonmarket and c4 THEN BUY 1 contract AT MARKET ENDIF   IF not shortonmarket and c3 THEN sellshort 1 contract AT MARKET ENDIF   SET STOP PLOSS 20 set target profit amplitude   graphonprice haut graphonprice bas

  

  Nicolas

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