dmnik wrote: Tue Jan 26, 2021 7:39 am Indicators for your strategy.

Is there an update to this OB?

Overview
This indicator is part of a trading system that displays entry and exit signals.

Mechanism
The exact signal conditions are confidential, but a few key points are outlined below:
It targets distortions that occur after the market opens.
It does not assess higher time frame trends.
It does not evaluate support or resistance levels.

Important Notes
Before use, please set the trading hours during which signals will be displayed.
Daylight Saving Time (DST) Parameter Settings
Once the DST parameters have been configured, there is no need to adjust them each time DST changes.
This ensures that historical charts display signals accurately and facilitates reliable backtesting.
It is assumed that the MT4 server switches to DST in line with US Daylight Saving Time (EDT).
When the US switches to Daylight Saving Time (EDT), this indicator refers to the EDT parameter value.
When Europe switches to Daylight Saving Time (BST), this indicator refers to the BST parameter value.
Some parameters may appear redundant, as the indicator has been designed to be usable in both Japanese and European regions.

Default Settings and Configuration Guidance
The default settings are configured based on Japan Standard Time (JST).

During Standard Time (Winter Time)
MT4 server time: GMT+2
Tokyo market opens at 09:00 JST
London market opens at 17:00 JST
09:00 JST (Tokyo open) corresponds to 02:00 MT4 server time
Formula:
Local time − "offset" parameter = MT4 server time
Therefore, the "offset" parameter should be set to 7.

During Daylight Saving Time (Summer Time)
MT4 server time: GMT+3
Tokyo market opens at 09:00 JST
London market opens at 16:00 JST
09:00 JST (Tokyo open) corresponds to 03:00 MT4 server time
Therefore, the "offset" parameter should be set to 6.

If you do not understand these settings, please set
"Enable/disable trading hour check for entry" to "false".
In that case, you should apply your own time filter.

If it is not possible to configure the correct time using these parameters, please inform us.

How to Use
Enter a trade when an arrow appears.
The system assumes profits will expand quickly over a short period.
Exit no later than when either the smiling face icon or the sad face icon appears.

Currency Pairs
Not specified
(I personally trade JP225, HKD50, and GER40.)

Time Frames
Not specified
(I monitor M15, M5, and M1 simultaneously, mainly M5.)

Multi-Time Frame (MTF)
Not specified
(I do not use it.)

Additional Indicators
Not specified
(I do not use any.)

Hard Stop Loss (SL)
Set at the most recent swing.

Other Discretionary Exits
Before the smiling or sad icon appears, I may close the position based on price action or price formations.
If profits fail to develop after entry, I exit without waiting for the hard stop loss.

Trailing Stop (TS)
When unrealised profit reaches 0.5%, move the hard stop loss to break-even.

Position Size
Risk 1% of account balance based on the hard stop loss distance.