Hello all, I’m not coder but am learning atm I wanted to get the communities thoughts..
If a breakout based on 5 min chart is higher then a sell order is activated and vice versa with mgale.
and thus every five minutes the range is calculated. Keen to take this away from eurusd.
Does anyone have any thoughts on this? Is this dumb in this symbol?
5 min is too small interval. And it will happen on either sides so u will end up trading on both sides.
It is not just for EURUSD, but for any entity. Better work out for another logic, imo.
Hello
Why breakout higher but you place sell order?
Kindly provide any visual chart?
Well on the basis that breakouts can be “fake” look to profit from the inevitable reversals. I think as Sai says 5m may be too small but perhaps 15m may work. Just looking to get some thoughts on it at the moment
5 min is too small interval. And it will happen on either sides so u will end up trading on both sides.
It is not just for EURUSD, but for any entity. Better work out for another logic, imo.
Thanks
usually when doing breakout strategy we need to determine ranging period and when price break highest range, we place buy order with SL on lowest range. If it eventually a fakeout, we then immediately open sell order on the lowest range with maybe doubling lot to recover loss from buy order and gain profit
that just a little bit concept
Benedict, it is not a set-file, it is question. I moved your topic.
As for your strategy, could you attach screenshot with explanation?
Seems Benedict wants to open new Sell when last bar high is broken (current price >= High[1]).
Let's wait for explanation from author.
Apologies, It was just an idea for integration but I am unable to understand the language / metric yet please remove if bothersome I may come back and re-post with full analysis ready for community to vote on
Hello
Why breakout higher but you place sell order?
Kindly provide any visual chart?