Hello, I have a quite simple idea, but I cannot write an EA to test it and find if it could work.
It should be flexible in order to try it to different pairs or indexes. Actually I'm testing it on dax day by day.
I use:
1) Maximum and minimum taken in some bars (something like 1st hour range, but flexible in order to choose from a bar of 15 minutes to 4 hours). Actually I'm trying first 30 minutes range. It would be useful to see it on the chart like 2 horizontal lines. I haven't found such an indicator.
2) Enter at the opening price of the bar following the first bar which closes over the range of the chosen period.
3) Variable take and stop to optimize.
4) When to reenter after a stop?
5) We could chose another way to trade and take only the orders in the direction given from the 2nd point. My idea is to take an average (customizable) of maximum and minimum and to trade over this channel taking only the signals filtered as I've written above.
Thank you for the help. Any idea to improve is well accepted.
Linkback: https://www.forex.zone/new-ea-coding/26/testing-an-idea/1857/