Hey Ferru - not asking you to do it, but just want your advice. Are the requests I made in post #39 (http://www.forexfactory.com/showthread.php?p=7451770#post7451770) actually possible to code in MT4? Thanks for the help -

Open Range Break - 100% Mechanical

That MT4 broker in the pics above is Excel Markets - their Pro account has excellent spreads. Of course, I can't actually live trade through them since I'm in the US....

Open Range Break - 100% Mechanical

Alright, awesome start, it enters at the right locations, unlike my version which I made which was randomly entering. I've attached a chart with notes. It would be great if we could do the following: Make the trade close at market when it closes on ...

Open Range Break - 100% Mechanical

Lol - thanks man -

Open Range Break - 100% Mechanical

Dude, nevermind, I'm an idiot. Had the time wrong - getting my brokers confused and apparently I need glasses. image

Open Range Break - 100% Mechanical

Mike - This image is confusing to me - I'm doing the visual backtester, but not sure what is going on. I'm testing this on Excel, which I'm not sure what time zone it is in, but I know the US market opens at 15:00. As you see in this image, it ...

Open Range Break - 100% Mechanical

Very cool man, thanks a lot. Like you said, maybe it has legs, or maybe it doesn't. Mike, if you set SL to 0, your note says "no stop loss". Does that mean that it will close the trade if it closes on the other side of the OR, or it will just never ...

Open Range Break - 100% Mechanical

These are good questions. My first suggestion, honestly, is to get a better broker. I have 0.0-0.5 spread on EU, and I'm in the US, granted not in MT4. I could get that spread for Ninjatrader, but currently I just trade through my broker's platform. ...

Open Range Break - 100% Mechanical

Profit level is determined as a multiple of the open range. For example, this morning's open range, on my demo broker at least, is 2.2 pips. So we want to tell the EA to aim for a multiple of that open range. In my test, I found 5x that multiple to ...

Open Range Break - 100% Mechanical

As I tested it, initial risk was infinite, as the "stop loss" was done as a market order when price closed on the opposite side of the OR. For the sake of practicality, I'd say put an initial stop of 20 pips, but make it so the EA closes the trade ...

Open Range Break - 100% Mechanical

What water did you lead me to? Someone else's strategy that is reportedly a scam? You have not provided any insight or help whatsoever. You put a moving average on an RSI and thought it was revolutionary? I'm not sure why you even both with ...

Open Range Break - 100% Mechanical

Interesting advice - As to your comments to me, I did look up briefly the strategy you mentioned. I came across a thread here and a couple other google search results mentioning scam. I decided I didn't care much to pursue that any further as I am ...

Open Range Break - 100% Mechanical

May very well be true, especially over a larger sample size. Or perhaps you trade till the first profit around the London open, and then again the first profit around the New York open. Of course, you risk giving back a profit made in the London ...

Open Range Break - 100% Mechanical

The following outcomes occurred: 1 occasion of 3 wins out of 5 total trades entered from 8am - 11am EST 1 occasion of 2 wins out of 3 total trades entered from 8am - 11am EST 1 occasion of 2 wins out of 2 total trades entered from 8am - 11am EST ...

Open Range Break - 100% Mechanical

That is a good question. I will run back through my back test numbers real quick to see if the overall expectancy improves by stopping for the day once achieving "the win", i.e. the big move away from the open. If I recall correctly, once you catch ...

Open Range Break - 100% Mechanical

I happened to be just doing some review and came across this day in the UJ - first trade was simple, break down, pullback, hit 5x. Second trade took forever - but the point was, look at how many times it wicked through the open range only to finally ...

Open Range Break - 100% Mechanical

Thanks for the comment. Unfortunately, its not very accurate (<50% win rate), but it has mathematics on its side (i.e. R:R). I would hate to trade this manually. Perhaps using some sort of HTF filter, like SuperTrend or a simple MA on say a 60M or ...

Open Range Break - 100% Mechanical

Some other stats, not sure if they are relevant or useful: If the first break of the OR was down, the most likely trade to be the big winner for the day was a short. Opposite for if the first OR break was up. 85.3% of the opening ranges were between ...

Open Range Break - 100% Mechanical

Thank you for the input - I assume you mean placing, for example, a buy stop a pip or half pip above the top of the opening range so that it will be triggered upon breaking. This would solve the problem of the swift breakouts that never retrace ...

Open Range Break - 100% Mechanical

As I mentioned, the idea stemmed from my use of the 5 minute opening range in the US equity markets and the massive influx of liquidity at that time in the futures markets. I decided to look at the opening 5 minute range of the EU for the NY session ...

Open Range Break - 100% Mechanical