I went down the path this thread describes and did not find it to be fruitful over periods of time. I saw times when this method was very good and other times when it was absolutely horrible. Over time it was pretty bad. I hope you all find something useful in this approach but I didn't at least as a stand alone. There may be potential to use this approach to define the trend and then watch price action to time an entry and exit.
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Here's one of those horrible days. Also included is a strategy that I wrote in about 10 minutes so you can see for yourself what I was talking about. The strategy has session times as parameters that are 800-1400 central time. Change them to suit your timezone. Also the strategy is a stop and reverse, no stop and no target. There are 2 possible exits for open positions after your end time; exits on close or when a signal in the opposite direction is encountered. Pretty simple strategy but demonstrates what I ran into when I studied this before. Also, I had all kinds of money management stuff and filters and all that crap we fall prey to. None of it worked very well. This strategy can be run in the strategy analyzer and because entries are placed on the next bar's open price, I set a stop order 1 tick above/below the trigger bar. That way you will see more realistic results.
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either I or you didn't interpret his strategy correctly. On the same chart I see only 1 loss maybe. The only strategy in used is buy/sell on the pull back. I know nothing about strategy coding so this is how it looks on the same chart.
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Ok thanks, I use Sierra so I can only the Sierra settings for the Flex Renko bars. With the settings I use for index like YM the range around 45 ticks. Sierra has an option new bar then exceded and I use that. It makes it stay in the same trend longer. I think it is bettar to stay in the same trend for a while and not change for every little move. If up trend before US day session so wait for a pullback bar down to the 40-60 % area and get in and hope for the best. If you like I could post my YM chart for today and we could talk about it. Regards Outlander
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