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Thread: Off-Hours Scalping Strategy

  1. #1
    Junior Member
    Join Date
    Sep 2010

    Default Off-Hours Scalping Strategy

    Hi There,

    I found this strategy thats for scalping. I tried coding the EA and had an alright success I just wondered if you could code it better than me Funyoo as I have only been coding EAs for the past week or so. Ive attached my current attempt but its obviosuly not perfect.

    Here is the strat
    once a currency pair has crossed the 3pm EST
    threshold, it will rarely move above the 3pm closing price (assuming it closed high) or
    below the 3pm closing price (assuming it closed low) during the “off-hours” period.
    So one way to scalp during off-hours is to use the high close (at 3pm) as the top
    “high water mark” or the low close (again, at 3pm) as the bottom “low water
    When the price hits (or moves very close to) the high or low water mark, you would
    look for the pair to retrace. In other words...
    • If it hits the high water mark, you’d want to go short.
    • If it hits the low water mark, you’d want to go long.
    A typical range on the 1 hour chart during “off-hours” is 30 pips, so when I’m trading
    this strategy during this time-frame I’m looking to scalp 10 – 15 pips.
    If you choose to go to a shorter time-frame (i.e. a 15 or 30 minute chart) the best you
    can hope for is 5 – 10 pips (which is why I prefer to trade the 1 hour chart).
    I also apply a 1 : 1 risk to reward ratio, meaning if I’m looking to scalp 15 pips I use a
    15 pip stop-loss. If I’m looking to scalp 10 pips I’ll use a 10 pip stop-loss.
    Attached Files Attached Files

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