HOLO Trade

[Archer]

Hello Forum!

I would like to build a very simple EA that opens a new trade when the new lower open of the day occures on the 1h time frame and the another one when the new higher open happens also on the 1h time frame.

I looked through all the blocks and options available in the builder but I can't figure out which condition is responsible for defining newest open high and low.

Can somebody help me with that please ?

[l'andorrà]

@archer Not sure what you mean exactly. What is the 'new lower open of the day' means exactly? Are you comparing today's lower with yesterday's maybe?

[Archer]

@l-andorrà said in HOLO Trade:

@archer Not sure what you mean exactly. What is the 'new lower open of the day' means exactly? Are you comparing today's lower with yesterday's maybe?

I compare today's lower open with today's previous lower open that occurs on the 1h time frame.
So if the new candle on the 1h time frame opens below previous today's lower open is now a new lowest open

Same in regards to the highest open of the day.

Hope that is clear enough now.

If not, please have a look on the attached picture.

[l'andorrà]

@archer When you say 'lower open' do you mean open price for a bullish candle maybe? An open price is not the low proce except at the moment of a new candle is formed. And that is apparently what you show in your screenshot. Is that correct?

[Archer]

@l-andorrà said in HOLO Trade:

@archer When you say 'lower open' do you mean open price for a bullish candle maybe? An open price is not the low proce except at the moment of a new candle is formed. And that is apparently what you show in your screenshot. Is that correct?

Please try attached indicator and use provided presets than you will see exactly what I mean.
I'll really appreciate a solution that will recognize daily lowest opens and highs on the H1 time frame.

TURN_OFF=false
Draw_Monthly_Lines=false
Draw_Weekly_Lines=false
Draw_Daily_Lines=true
Draw_Hourly_Lines=true
Draw_H4_Lines=false
Draw_M30_Lines=false
Draw_M15_Lines=false
Draw_M5_Lines=false
Draw_M1_Lines=false
Draw_PD_HOLO_Lines=false
Draw_Pip_Lines=false
PipIncrement=5.0
NumPipLines=5
Show_Time_Infos=false
Shift_Factors=
Shift_M1_Labels=0
Shift_M5_Labels=0
Shift_M15_Labels=0
Shift_M30_Labels=0
Shift_H1_Labels=0
Shift_H4_Labels=0
Shift_D1_Labels=0
Shift_W1_Labels=0
Shift_MN_Labels=0
ts0=
Line_Style_M1=0
Line_Style_M5=4
Line_Style_M15=2
Line_Style_M30=2
Line_Style_H1=0
Line_Style_H4=1
Line_Style_D1=0
Line_Style_W1=0
Line_Style_MN=0
Pip_Line_Style=1
ts1=
Line_Width_M1=1
Line_Width_M5=1
Line_Width_M15=1
Line_Width_M30=1
Line_Width_H1=1
Line_Width_H4=1
Line_Width_D1=1
Line_Width_W1=2
Line_Width_MN=2
Pip_Line_Width=1
s0=
Draw_OpenLine_Previous_Day=false
Draw_HiLoLines_Previous_Day=false
Draw_PriceBoxes_Previous_Day=false
Draw_Texts_Previous_Day=false
s1=
Draw_OpenLine_Current_Day=false
Draw_HiLoLines_Current_Day=true
Draw_PriceBoxes_Current_Day=false
Draw_Texts_Current_Day=false
s2=
Draw_OpenLine_Current_H1=false
Draw_PriceBox_Current_H1=false
Draw_Text_Current_H1=false
s3=
Draw_ExtremeOpenLines_Current_Day=true
Draw_ExtremeOpen_PriceBoxes=true
Draw_ExtremeOpen_Texts=true
Draw_PriceBoxes_Weekly=true
Draw_Text_Weekly=true
Draw_PriceBoxes_Monthly=true
Draw_Text_Monthly=true
ts2=
Draw_Ask_Bid=false
AskWingDing=165
BidWingDing=165
TextPostion=4
Line_Colors=
colorOpenHi=2237106
colorOpenLo=11829830
colorOpen=0
colorHigh=255
colorLow=16760576
pip_line_color=0
Ask_Bid_Colors=
colorAsk=0
colorBid=0
Trend=
Draw_Trend=false
Trend_Bars=0
colorTrendUp=32768
colorTrendDn=128
Trend_Style=0
Trend_Width=3
Draw_TradeAid=false
SHADE_HOLO=true

0_1652708911173_smHiLoOpen Lines_v1.2.mq4

[l'andorrà]

@archer I'm afraid fxDreema can't use this indicator properly. Buffers are not correctly identified. You can try to emulate them this way (but no 100% guaranteed):

https://fxdreema.com/forum/topic/4208/tutorial-06-my-indicators-in-fxdreema

[Archer]

@l-andorrà thank your replay.

I'm aware that buffers are not correct
Therefore I was hoping that somebody knows the solution via blocks and functions that are offered on fxDreema.
At the end of the day, new lower & higher opens are based on the time period, price and candles.
Indicator is not a crucial thing in this case.
Please correct me if I'm wrong that this condition is possible to create via builder.

[l'andorrà]

@archer Yes, you are correct. Theoretically we should be able to implement that via the builder without any indicator involved. The question is, why do you exactly need to compare every hour's close price to yesterday's close price instead of using simply current price?

[Archer]

@l-andorrà
there is still some small misunderstanding here.
I want to compare today's highest/lowest opens with each other. This is a part of my trading strategy.
In a nutshell, I would like to build an EA that opens a long position everytime when the new lower open of the day occures on the H1 time frame and a short position when the new higher open of the day occures also on the H1 time frame.
With some exceptions of course, but first of all I need the solution and help which blocks to use to define today's highest and lowest opens.

[l'andorrà]

@archer Do you mean the daily open? If so there is one only open price per day. What do you exactly mean by 'new lower open'? Do you mean todau's open to be lower than yesterday's open? Then why do you need the H1 timeframe? That will be checked just once per day at the open today.

[Archer]

@l-andorrà

no, I don't mean the daily open. It's also nothing to do with the previous day.
It looks like it's a very hard thing to explain by words, so once again, please use the indicator that I have attached in the previous post with the presets provided.
Use it on the MT4 platform. Look at any pair on the M30 time frame.
Trust me, its gonna take you less than 5 minutes to figure it out.
New lower/higher open of the day may occurs many times during the day.
And that is what I'm looking for on the charts.
It looks like on the attached picture.
Why is it 30 min chart ?
Because it's easier to look it that way and it's because the time frame does not matter as long we compare lower/higher opens on the H1 time frame.
Price will be always the same on any other time frame.

[l'andorrà]

@archer Ok. Now I think I get it. You can get that comparison this way:

This block is comaparing the previous hour close price with today's highest price. Now you can do the same for the lowest price.

[Archer]

@l-andorrà
OK, thank you. Will do the tests and let you know if it worked.