VERY basic TradingView Strategy
Budget: $10 – $30 USD
VERY basic TradingView strategy that I want to backtest on Forex.
Entry and Target
- On the 5m TF, determine candle open price at 10:15am. At 11:00am measure the distance between both candles opens. If greater than X points, then enter a market order (at 11:00am) aiming for the candle open price from 10:15am. Allow for a buffer in points (ie. the target minus/plus 3 points).
- Fixed SL
- Incorporate forexfactory.com/calendar events to avoid backtesting those days. For a given day, if there is a red folder event and/or orange folder event and/or yellow folder event for GBP and/or USD and/or EUR and/or JPY don't trade it (make these optional so that I can mix and match).
- No pyramiding. Either a trade hits its SL or its TP, until then do not open any new trades.
That's it - thank you in advance.
Entry and Target
- On the 5m TF, determine candle open price at 10:15am. At 11:00am measure the distance between both candles opens. If greater than X points, then enter a market order (at 11:00am) aiming for the candle open price from 10:15am. Allow for a buffer in points (ie. the target minus/plus 3 points).
- Fixed SL
- Incorporate forexfactory.com/calendar events to avoid backtesting those days. For a given day, if there is a red folder event and/or orange folder event and/or yellow folder event for GBP and/or USD and/or EUR and/or JPY don't trade it (make these optional so that I can mix and match).
- No pyramiding. Either a trade hits its SL or its TP, until then do not open any new trades.
That's it - thank you in advance.