How To Use Average True Range To Pick Entry Price | ATR series part 1

[@navketan1965]

Sir, Forex trades 24/7 and daily close is 5PM( EST)--you could run back test(close & open prices are same)using daily close of forex pair & place limit order 80% of Daily ATR away from close to buy/sell--to buy below the close.Preferably do it in the direction of the trend.Take profit & stop loss be 50% of that distance.Please publish the results of back test.Thank you,

[@wanga10000]

Use ATR to open a limit order is quite a good idea to benefit the trading system. Just two question: 1. Why using the "C" price (I assume it's the last bar close) but not the open price of this bar? That should be available. Or is this the limitation from software? Cause in my knowledge, the open price in some market could be differed a lot from the last bar close. The limit price you set might already touch the current market price. Will it become a market order in the backtest system? 2. What type of strategy you think could be effectively improved by this techique? I assume it might be some sort of mean reversion or pullback one. Maybe trend-following could get a little benefit. But scalping might not be a good choice. It's worth to backtest it (I'm about to do that). Just want to know if we can get the similar result or not.

[@navketan1965]

Sir, Forex trades 24/7 and daily close is 5PM( EST)--you could run back test(close & open prices are same)using daily close of forex pair & place limit order 80% of Daily ATR away from close to buy/sell--to buy below the close.Preferably do it in the direction of the trend.Take profit & stop loss be 50% of that distance.Please publish the results of back test.Thank you,

[@MicroFourThirdsCorner]

Where is the Stop Loss calculation?

[@MisterPDR]

Keep up the frequency. 🎉