Balls to the Wall, a 1 minute 1 trade EA

[garyfritz]

So, just to make sure:

• - if the market rose from Frankie open to London open, the bias is up and the line should be drawn at the low?
  - if the market fell from Frankie open to London open, the bias is down and the line should be drawn at the high?

That's how I read it.

[SteveHopwood]

So, just to make sure:

• - if the market rose from Frankie open to London open, the bias is up and the line should be drawn at the low?
  - if the market fell from Frankie open to London open, the bias is down and the line should be drawn at the high?

That's how I read it.

Thanks vivaldi, Gary. I am coding this now. Whilst doing so I found out why the ea could trade twice during MarketOpenHour.

[slipshod]

That's correct. Btw I'm not sure where all the stuff about fractals came from, as I didn't find that in the FF thread. Mind you neither did I wade through all those pages, I just coded Paulus's original concept from early in the thread.

[SteveHopwood]

That's correct. Btw I'm not sure where all the stuff about fractals came from, as I didn't find that in the FF thread. Mind you neither did I wade through all those pages, I just coded Paulus's original concept from early in the thread.

I use fractals as a convenient way of finding the most recent swing. I understand P takes his stop loss from this.

V 1e is in post 1, with the coding amended. Also amended the documentation.

[coolncalm]

Thanks, Steve! You're the bestest!!

[SteveHopwood]

Thanks, Steve! You're the bestest!!

My pleasure. If you had not alerted me, I would not have known.

[coolncalm]

This should be the idea for today (this morning) of how to decide the bias.
I drew a line btween the Frankie Open and the London Open. Of course very subjective: today was UP.
So the bias is long for the day.
The yellow line then shows the "European low line" for today. As long as price is above this line, we should look for Longs. When this line breaks and we do not yet have an order, we start looking for shorts.

Hi vivaldi,

Its strange, but my 1M candles and open times look different from yours (see below). Anyway, I guess analyzing the market bias is where experience may play a subjective role. When I drew the EURO open to London open line on my chart, it looked flat, so I sought confirmation hence the second line.

[Zool]

When I first read this strategy on FF, my idea was that it's more objective and simpler method to look the last 1 hour candle before the London open, instead of drawing lines. If it's a down candle then the bias is down, if it's an up candle, the bias is up - when you draw the line on 1 min timeframe, actually you draw it between the opening price of the hourly candle's open and close price.

[vivaldi]

This should be the idea for today (this morning) of how to decide the bias.
I drew a line btween the Frankie Open and the London Open. Of course very subjective: today was UP.
So the bias is long for the day.
The yellow line then shows the "European low line" for today. As long as price is above this line, we should look for Longs. When this line breaks and we do not yet have an order, we start looking for shorts.

Hi vivaldi,

Its strange, but my 1M candles and open times look different from yours (see below). Anyway, I guess analyzing the market bias is where experience may play a subjective role. When I drew the EURO open to London open line on my chart, it looked flat, so I sought confirmation hence the second line.

If I am correct, the London open on your chart is one hour too late. ( 1 hour after the real open.) My chart by the way, was 1 hour too early. (1 hour before the real open.) So, it's no wonder, they differ. But the idea was, to show how the bias for Long or Short can be derived in the morning according to Paulus' rules. (Don't tell Steve, we were not able to tell the time in a chart ! )
Paulus himself does not bother so much about an hour more or less. He says somewhere in his thread : "If it [this timesetting] works for you, go ahead". Of course, you must stay consequent as to what times you choose.
Paulus is more the kind of creative trader artist. We, here, are more the exact, mathematically inclined traders.

Your idea of confirmation is interesting. After all, not every day shows a clear bias to go Long or Short. So, what to do in that case ?

[winsteadglenn]

If anyone is using the slope feature, please let us know what works for you.