Gridtrading from daily open

[TraderJoeForex]

Done and uploaded to post 2 - took 5 minutes. The moving average inputs are underneath the HGI inputs.

Brilliant.. This will be very helpful

[TraderJoeForex]

Here's the set file I am now testing if anyone is interested. TP set to 2ADR and Grid Size 2ADR /5

5ema trigger worked perfectly straight after rollover on my chosen pairs for the week (AU, EA, EC were the pairs that had a W1 close with Flying Buddha last week).

I'll report results and any trade management actions at the end of this week.

Thanks again Steve

[Louisetano]

Thanks Steve and Joe

[TraderJoeForex]

I received this pm with a few questions so posting it here in case it helps clarify for anyone else too..


Do you check all charts to see which pairs have a FB on the previous week and then only allow those pairs to open grids Monday morning?
Yes exactly..

The pairs will then only open if there is a 5 EMA cross?
With the updated EA from Steve in post 2 and the set file I posted yes that's correct.

I decided to test on the same pairs as you recommended, AU, EA and EC. They are looking VERY good so far. AU has not yet opened trades, what do you do then? Keep the pendings in place till the end of the week?
Yes indeed.

The pairs in profit do you keep them open until TP or close them Friday night and then start all over again?
If not already hit TP and closed by EA during the week then if all the trades on a particular pair can be closed in profit on Friday afternoon/evening then I will take what the market has given and close yes.

If some buys and sells have triggered on a particular pair and there is not yet a clear profit I will leave it open over the weekend and following week .. and check again. If the paricular pair gets stuck in a range then it could be open for a few weeks at least. ...eventually it will move and be able to close.

I love your idea and the simplicity of this system. I very much appreciate your time. :hi:
Thanks

[TraderJoeForex]

First grid closed neatly this morning on EURAUD with 2ADR profit. 374pips banked

I will now remove the EA from this chart otherwise it will send a new grid on the next 5EMA cross. Although it may be possible to squeeze a few good runs following a W1 Flying Buddha I am just going to keep it simple and accept the first one each time.

[SteveHopwood]

First grid closed neatly this morning on EURAUD with 2ADR profit. 374pips banked

I will now remove the EA from this chart otherwise it will send a new grid on the next 5EMA cross. Although it may be possible to squeeze a few good runs following a W1 Flying Buddha I am just going to keep it simple and accept the first one each time.

[TraderJoeForex]

Decided to try this on H4 today using D1 for pair selection.

There was a Flying Buddha on USDCHF and EURUSD yesterday's close so I put the attached set file on H4. I lowered the TP to just 1 ATR (H4) and the grid spacing 2 ATR H4.

Both closed their grids in profit this afternoon. Nice and easy 100pips.

I am thinking this will be a handy way to get some more trades during the week when desired. The idea is the same and now close at the end of the day if some profit but the EA hasn't hit TP or rollover if she needs more time.

[Louisetano]

It would be handy if we had a dashboard showing which pairs have a Flying Buddha on weekly and daily TF

[TraderJoeForex]

It would be handy if we had a dashboard showing which pairs have a Flying Buddha on weekly and daily TF

... a dashboard fully auto EA is the goal which will open this method up to catching lower timeframe breakouts. Just proving it works first

[Louisetano]

... a dashboard fully auto EA is the goal which will open this method up to catching lower timeframe breakouts. Just proving it works first