cpr wrote:
If you don't mind, can you post the link of 1h trend lines process that Edward suggessted ? I am currently drawing trendlines based on ZIGZAG indicator (Strategy #10)..
Thank you.. I will try to spot some areas tomorrow morning.. see if I can do any demo trading on this ? Thank you for your help.. It is appreciated.
here it is:
http://forex-strategies-revealed.com/ad ... s-breakout
Edward also suggested this:
http://www.trendlinebook.com/
I mentioned earlier, I modified trendlines2 indicator for this strategy. Here it is attached, "Trendlines2_H1-breakout.mq4".
In the parameters you can set the first bar time (rfbt) and the last bar time (rlbt) of the range (for me this is 07:00-11:00).
Then it draws the trendlines according to the strategy. Please note that it has a small bug, "feature", you can not set a range that is in two different days, eg. 22:00-02:00. I will probably correct this when I have the time.
It writes a comment of the trendlines position and the distance from the TLs. When price is 1-5 pips above/below the TL an alert is displayed, what can be turned off in parameters. In the alert stop is displayed, what is the other side of the breaking candle.
I think this may be combined with the formerly suggested EA that trades the breakout of the properly named trendline objects.
One must simply modify the object names of "H1_S_", "H1_R_".
For those having problems with drawing trendlines, here I attach some versions of "DeMark Trendline Trader".
Probably you find it useful.
Regards,
Gyula