by algotime » Wed May 11, 2016 9:09 pm
Hello,
Is there a strategy similar to this? What i am looking for is a automated strategy that looks back at the previous days high and day low and on next session open it places entry order (x) amount of pips over high and below the low with a limit, stop, and trailing stop option
For example- eur/usd previous high was 1.1500 and low was 1.1300. At time of close price settled at 1.1435
On the open 5pm est ( maybe have start time interchangeable as asian session is slow typically) the strategy places a buy order at (x) number of pips above the high such as 10 pips (1.1510) and a sell order at (x) number of pips below the low so using 10 pips again (1.1290) once an order gets triggered the opposite order can either stay in place as a reversal is possible or can cancel
This is similar to constant break strategy but uses the previous day and open/close values as its initiation instead of pips
Thanks for any info or development in my search