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First 2 Hour Channel

Article/Author: Omega research Inc., 1997

Download: 2hourch.ela

File Includes: Signal - First 2 Hour Channel

Category: Strategy > First 2 Hour Channel

Description:
This simple trading system trades depending on market price of first 2 hours of previous day.

Inputs:
BEGINCH - The beginning of 2 hour channel
ENDCH - The finishing of 2 hours channel

EasyLanguage Code:
INPUT:BEGINCH(SESS1STARTTIME),ENDCH(1300); { 1300 IS AN EXAMPLE }


VARS:CH(H),CL(L);

IF TIME = BEGINCH + BARINTERVAL THEN BEGIN
CH = H;
CL = L;
END;

IF TIME >= BEGINCH AND TIME <= ENDCH THEN BEGIN
IF H > CH THEN CH = H;
IF L < CL THEN CL = L;
END;

IF TIME > ENDCH AND DATE = DATE TOMORROW THEN BUY AT CH STOP;
IF TIME > ENDCH AND DATE = DATE TOMORROW THEN SELL AT CL STOP;