Open types

April 14th, 2017, 09:03 AM

I have some questions regarding different open types, and hopefully this can be a thread that can help others aswell.
The different open types are as some (but not all) of you might know.

Open drive
Open test drive
Open rejection reverse
Open auction (inside value/range)
Open auction (outside value/range)

First question i have is about the difference between an open test drive and an open rejection reverse, i know a lot of people have problem separating the two since they at first look almost the same.

This picture above i found at another forum, it shows an open test drive. Initial balance was upset early in the day by D period and price did not come back to test the intial balance later on.

This next picture shows an open rejection reverse.

initial balance break in D period but a fall back in price into the initial balance in I, J, and K period. This somewhat resembles an open-rejection-reverse.

So with other words in open rejection reverse it seem that price after testing in one direction and failing falls back and auction within the initial balance for a while. My question is this.

* How can i spot this early on because i dont want to wait until K period before entering the market

* What kind of day would you expect out of the two? Trend for open test drive and balanced for open rejection is this correct or wrong?
* is an open test drive always going to test beyond a known reference point such as previous days high low overnight high low ets and what if it dosent is it not an open test drive then?
* Can an open drive, open test drive and open rejection reverse start from within value? or is the conclusion always to look for a balanced market when we open inside value?

All inputs are welcome, even things i haven�t thought of that can be useful.

Also i�m looking for an experienced C# programmer for a very interesting project that can be of very good use in trading for both of us, so if you have good knowledge of C# please send me a private message with your email and i get back to you.

Happy trading
Dave.

April 15th, 2017, 12:22 PM

No one have any inputs? Okey, but can someone answer this which is probably simple. If market open outside of value and auction around open we might expect a large move, does that mean an initiative move or can it be a responsive move back into value aswell?

Also, if there is any experienced C# programmer please send me a pm, i have an interesting id�a i want help coding that can help both of us.

Cheers!!
^^

Open types

Discussion in Platforms and Indicators

Open types