Optimized Open High low strategy (Read More and Buy)
- July 17, 2019
- Posted by: PurpleTrades
- Category: AFL
Open High low strategy is one of the popular and very common strategies among traders.
The basic logic of This strategy is :
When Open = High of the first candle (of any time frame) Go short on open of 2nd candle.
And SL is High + 0.05 of the first candle.
Similarly, when Open = low of the first candle (of any time frame) Go Long on open of 2nd candle,
And SL is Low – 0.05 of the first candle.
Target has no specific logic, we can either set in percentage or points or auto square of during market close time ( 3:15 pm).
The Optimised Open High low strategy is a step ahead.
Here is the brief of the strategy:
When Open = High = Go short. SL can be High + 0.05 of the first candle or in points or percentage/
When Open = Low = Go long. SL can be LOW – 0.05 of the first candle or in points or percentage.
There are 2 targets :
Targets can also be in points or percentage or auto square off at the close of the candle.
When target 1 is achieved, we book partial quantity there and trail the remaining till target 2 with a Trailing SL.
The strategy also has an option of whether to keep 1 target or 2nd target.
This way we can lock minimum profit on target 1 and aim for maximum profits at 2nd target.
Features of AFL :
- Works on anytime frame
- Scan enabled
- Multi options for SL
- Multi options for targets
- Multi-target enabled.
- Fully automated
Get this Fully automated strategy at INR 1999 only.
To know how basic Open-high low scanner works in the live market, watch the video here: