"Big Candle Filter" (Fast In Fast Out Strategy)

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drago babnik
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Fast In Fast Out Strategy

I am also adding my suggestion for the most volatile trading hours. You can test the strategy by downloading EA "Fast In Fast Out Strategy" - Faeze Bakhshayesh Expert for MetaTrader 4 (https://www.mql5.com/en/code/27391) .The problem that is present here are rapid changes buystop sellstop pending orders. Some brokers do not allow this. I wonder if this can be solved with virtual pending orders and only send a buy or sell signal. The strategy only works with high volatility and using trailing stops but not too tight >5 points. With low volatility, this trading strategy is a waste of money. It works best on GBPUSD and other volatile pairs.

Duplicates 1
Open signal: buy if Ask >= bar open + X points / sell if Bid <= bar open - X points

Used in i_solaris strategy and in Paolo strategy.

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    giulio de meo

    Can you explain better the startegy? thank you

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    Andrey Khatimlianskyi
    • Under review
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    Andrey Khatimlianskyi
    • Under review
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    Andrey Khatimlianskyi
    • Planned (collecting votes)
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    Andrey Khatimlianskyi

    @Drago, we need more details here

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    saheed a

    This could be used on indices perhaps?

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    drago babnik
    Quote from Andrey Khatimlianskyi

    @Drago, we need more details here

    There, pending orders (buystop, sellstop) are now incorporated into the CP. In my experience, this system is particularly suitable in combination with the momentum indicator (when the price breaks the channel, when the ECB or the FED announces the decision to change the interest rate, Brexit, Covid-19, etc.). A tight trailing stop is necessary with this trading system.

    In order not to lose money, it is important that pending orders are placed at an appropriate distance from the current price and only in the event of a rapid and large change in a small time frame (M5 or M15) is the deal triggered. The question is which indicator would be most appropriate? Most indicators are useless or even hindering this strategy. In the case described above, trading takes place on 1 large candlestick when High [0] -Low [0]> 100 to 300 points; TF = M5. Only with such a big jump or drop in price is it appropriate to place a buystop or sellstop pending orders on both sides. Sometimes EA has to wait several weeks for suitable conditions. This system should operate separately from other systems, those operating on a daily basis and on other indicators.

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    Andrey Khatimlianskyi

    So, the summary:

    - waiting for big candle (High [0] -Low [0]> 100 points)

    - setting virtual buy-stop and sell-stop orders (X points from the current price)

    - trailing them if price moves (buy-stop only downward, sell-stop only upward)?

    - waiting for execution

    - applying short trailing stop

    Have I missed something?

    If no, approving for voting.

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    drago babnik

    Yes, that’s exactly what I meant in the description.

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    Andrey Khatimlianskyi

    I think, we can check this strategy with only one improvement — "Big candle filter".

    You'll disable signal, set this filter, enable Pending enter and trailing stop. EA will set both buy and sell orders right after big candle and trail them till execution.

    Is it sounds good? )