Hi

I'm new to this forum. I would like to discuss my idea about 6:00 GMT setup.
Time frame:5M
Draw vertical line at 0:00 GMT.
Draw vertical line at 6:00 GMT.
Draw horizontal line at the hi incurred between 0:00 & 6:00 GMT.
Draw horizontal line at the lo incurred between 0:00 & 6:00 GMT.
Draw horizontal line at the open of the day.
Draw horizontal line at the open of the 6:00 GMT candle.

To buy:
If at 6:00 the price is below the open than buy. with target the open of the day. trailing Stop & reverse (pip by pip) is the low of the day minus 3 pips. if reversed w'ill repeat with same initial risk with target to secure same amount + previous loss.

To sell:
If at 6:00 the price is above the open than sell. with target the open of the day. trailing Stop & reverse (pip by pip) is the high of the day plus 3 pips. if reversed w'ill repeat with same initial risk with target to secure same amount + previous loss.

We only reverse once a day.

Manual back testing look promissing. Maybe an indicator to pinpoint entries will help judge this idea historically.

Hope somebody is interested to help.

Zeinoun

you could modify this EA if was on MQL4

Cheers

Beno

Attached Files

21hour.mq4 (8.6 KB, 33 views)

It seems an interesting EA. Could u please post where to find explanation about it.

Thanks,