How to trade only after S1 and R1 of Pivot Point?
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Hi all,
I am building an intraday strategy I would like to restrict my Long trade ONLY if the low of candle ID 2 (2 bar ago) is BELOW the Daily S1 level. Opposite for Short.
So I need to calculate S1 and then compare it to the low of candle ID 2. And I am having problem with applying math calculation here and doing the comparison on fxdreema builder.
Please help me, thanks!
- Daily Pivot Point (P) = (H+L+C)/3
- S1 = 2xP - H
- Therefore S1 = 2(H+L+C)/3 - H
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What about some indicator like this one?: http://www.mql5.com/en/code/10990
It's also possible to calculate this stuff directly, for example in "Custom MQL4 code" block, but maybe it will be slower for backtest.
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Can you show me the calculation in the custom box please? Thanks!
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I just added this to the web version: http://prntscr.com/3j4k79
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That's very kind of you. Thank you so much!
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You can check if everything is fine. I used formulas that I found here: http://en.wikipedia.org/wiki/Pivot_point, otherwise there are many different kinds of pivot points out there.
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The screenshot shows Daily Candle ID is 0. But I am supposed to use 1, right?
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No, use 0 by default. 1 is added inside the code. Calculations are over Candle ID + 1 candle, but for Candle ID candle. You can use "Indicator tester" to check any value.
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Thanks!!!
