M8 BUY @ END OF DAY — Strategy by HermanBrummer
By HermanBrummer
Performance Metrics
- Author: HermanBrummer
- Symbol: NASDAQ:QQQ
- Timeframe: 30 minutes
- Net P&L: +187.02 USD (+0.19%)
- Win Rate: 94.7%
- Profit Factor: 1.697
- Max Drawdown: 24.92 USD (0.02%)
- Total Trades: 506
- Sharpe Ratio: −21.819
Description
I've read a couple of times at a couple of different places that most of the move in the market happens after hours, meaning during non-standard trading hours. After-market and pre-market hours and have seen data presented showing that systems which bought just before end normal market hours and sold the next morning had really amazing resutls. But when testing those I found the results to be quite poor compared to the pretty graphs I saw, and after much tweaking and trying different ideas I gave up on the idea until I recently decided to try a new position management system.The System Buys at the end of the trading day before the close Sells the next morning at the open IF THE CLOSE OF THE CURRENT BAR IS HIGHER THAN THE ENTRY PRICE When the current price is not higher, the system will keep the position open until it EITHER gets stops out or closes on profit sma(security(syminfo.tickerid, "D", close[2]), MarketFilterLen) // HIGH OF OLD DATA -- SO NO REPAINTING"I use "close[2]", so that's data from two days ago, it's fixed, confirmed, non-repainting data from the higher timeframe. -- I would only suggest using this on direction tickers like SPY, QQQ, SSO, TQQQ, market sectors with additional filters in place.