I think that would be useful as many brokers do not have Sunday candles and it is not a proper trading day
The slingshot effect that the price first moves in the direction of the previous candle and then quickly reverses The size of reversal is the difference between to wick price and the close price of the previois candle So it follows that if there is a very small wick then there is no slingshot effect. I suggest we only trigger when there is a reasonable price difference Not sure what this would be however its open to experiment Remember we are not trading 30 min bars here
Attached is my failed trade from monday The trade triggered when price was only 0.6 pips past the previous days close and it price never made it higher apart from 1.5 pips a few bars later (close price was 1.40920 and you need to add the spread to determine buy price) I think that ideally a complete candle should be above the buy price before the trade is triggered.
Maybe the above could be user set values with defaults set as at present Then people could test the options Yoiu also need the following
5 dec places prices
Omit Monday trading
Thanks for your help
