You add the index symbol from data provided with SQX or you import it and then in Algo Wizard OpenD - CloseD[1] is the gap If u want to use gap in builder u can add it as a custom block
Another great video, thanks. I have watched the video loads of times, and I never heard you mention a stop loss. Is there a fixed SL on the strategy or is it strictly when it goes above RSI2 - 70 (whether in a winning or losing position)?
@@StatOasis I had seen from 'Long-term secret to short-term trading' book, chapter 15: Let's break some bad habits. Larry Williams said that this strategy work across all markets. But he never backtest one day exit. If can make a video for this simple strategy.
Really interesting video. but one question. fx market is traded 24h a day. how can there be a gap between close of a day and open of next day? are the open / close price set on different times, for example from 9 am to 17 pm, wherever i can trade from 0 - 23:59?
There a gap on the weekend as markets are closed on Saturdays but you can build your own bar for example trading New York time 9-16 or you can trade the futures of currency and use daily session only which 8:30 - 15:15
@@StatOasis Which time settings do you use in your video on daily basis? with open session times, an outside bar can be only on monday. And moreover, there will be no more trades on 4h or 8h timeframes.
you are right an outside day is an engulfing day, however, I have an extra condition built in this engulfing bar which is the body has to be at least 70% of the range, to make sure there is direction and not indecision.
why are you trading useless forex pairs, i thought you would be trading stocks.
Useless??
There is no such thing, you trade the best patterns to make money, wherever you find them
Hello Ali, how could we measure the daily gap (closing / opening) of an index with SQX? Thanks for your videos
You add the index symbol from data provided with SQX or you import it and then in Algo Wizard OpenD - CloseD[1] is the gap
If u want to use gap in builder u can add it as a custom block
“We go long” lol that’s wild advice lol
Wish i would have half his knowledge:)!!
Another great video, thanks. I have watched the video loads of times, and I never heard you mention a stop loss. Is there a fixed SL on the strategy or is it strictly when it goes above RSI2 - 70 (whether in a winning or losing position)?
the exit of rsi2 usually happens within two bars, but you can add a catastrophic stop loss if u like
Can you do a backtest on Larry Williams strategy: Buy when a market close on or near its high; sell when a market close on or near its low.?
Where have you seen this strategy?
@@StatOasis I had seen from 'Long-term secret to short-term trading' book, chapter 15: Let's break some bad habits. Larry Williams said that this strategy work across all markets. But he never backtest one day exit. If can make a video for this simple strategy.
thanks will check it out
@@hanchow2004 why do you need to backtest it? Couldn't you just trust the guy? You don't really think he is trying to con you?
Really interesting video. but one question. fx market is traded 24h a day. how can there be a gap between close of a day and open of next day? are the open / close price set on different times, for example from 9 am to 17 pm, wherever i can trade from 0 - 23:59?
There a gap on the weekend as markets are closed on Saturdays but you can build your own bar for example trading New York time 9-16 or you can trade the futures of currency and use daily session only which 8:30 - 15:15
@@StatOasis Which time settings do you use in your video on daily basis? with open session times, an outside bar can be only on monday. And moreover, there will be no more trades on 4h or 8h timeframes.
You don’t need a gap in Outside bar
high is greater than previous bar and low is lower than previous bar
Stocks have ‘em
Great video again Ali! Cheers
Thank you for watching
Another interesting one. Cheers Ali.
Thank you for watching
Great video!
Glad you enjoyed it
Enfolding day , right?
sorry, but I didn't get your question!
@@StatOasis
Asking if the “out day” is just engulfing day
you are right an outside day is an engulfing day, however, I have an extra condition built in this engulfing bar which is the body has to be at least 70% of the range, to make sure there is direction and not indecision.