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Thread: Daily Trading

  1. #1

    Default Daily Trading

    This strategy works on USD/JPY but not tested on other currency pairs. Please help to code it into an EA

    Criteria
    Obtain Daily OHLC values as soon as the bar is formed.
    O = open price of yesterday
    H = Highest price of yesterday
    L = Lowest price of yesterday
    C = close of yesterday

    The price difference between the Open and Close must be at least 51 pips

    BUY
    If yesterday's close price is higher than today's open price, today trade a "buy"
    If today is a 'buy', the 1st profit target is yesterday's high
    exit half of your positions at 1st profit target
    2nd profit target is double 1st profit target
    eg. if 1st profit target is 40pips, the 2nd profit target is 80pips
    stop loss is lowest price of yesterday

    SELL
    If yesterday's close price is lower than today's open price, today trade a "sell"
    If today is a 'sell', the 1st profit target is yesterday's low
    exit half of your positions at 1st profit target
    2nd profit target is double 1st profit target
    stop loss is highest price of yesterday

  2. #2
    Administrator funyoo's Avatar
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    Default

    Here is the Daily Trading EA.
    Attached Files Attached Files

  3. #3
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    Default

    in enclosure the ea.
    the funny thing is that the logic is the same but this two produce a little bit different results. Hell I think mine has different exit rules or something is wrong in TP. Nevertheless both are working and were profitable last year at least during backtest
    Attached Files Attached Files

  4. #4
    Administrator funyoo's Avatar
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    Quote Originally Posted by kniter View Post
    in enclosure the ea.
    the funny thing is that the logic is the same but this two produce a little bit different results. Hell I think mine has different exit rules or something is wrong in TP. Nevertheless both are working and were profitable last year at least during backtest
    Yes, I have forgotten to specify that my ea should be attached on a small timeframe like M5 for example, as it works with two orders and I have not been able to limit the number of orders with the usual maxtradeperbar on a daily period.

    It's great to have another version.

  5. #5

    Default

    Hi funyoo and Kniter
    Thanks for the code. You also mentioned a backtest was done. Just check with you backtest is tested on which currency pairs and which time frame?

  6. #6
    Junior Member
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    under this link you can find the back test
    http://www.tradingsystemforex.com/ex....html#post2559

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backtest, backtesting, currency pairs, expert, pairs, profit, profitable, strategy, time, trading, usd

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