20% ROI per month on captial above 1 Cr possible?

[TraderBharath]

Hello

After Rajesh's inputs and points to Al Brooks
Downloaded a summary presentation Trading the Open

Link: https://www.brookstradingcourse.com...ks-TradersEXPO-Las-Vegas-Trading-The-Open.pdf

Very interesting observation / analysis is presented about opening bar / candle

20% of the times we get a High or Low on first Bar, 50% of the times its within first 30/45 minutes and 70% of the time within first 90 minutes

But why believe in Al Brooks when we can test for our self

// Scanner for Day Hi Lo Bar Number
H1 = TimeFrameGetPrice("H",inDaily,0);
L1 = TimeFrameGetPrice("L",inDaily,0);

ND = Day() != Ref(Day(), -1);
Bars  = BarsSince(ND) + 1;

Hi_Count = ValueWhen(H==H1,Bars);
Lo_Count = ValueWhen(L==L1,Bars);

Filter = TimeNum()>152900 AND TimeNum()<153000;

AddColumn(High,"High",1.2);
AddColumn(Low,"Low",1.2);
AddColumn(Close,"Close",1.2);
AddColumn(Hi_Count,"Hi Bar No",1.0);
AddColumn(Lo_Count,"Lo Bar No",1.0);

Thanks to everyone participating on this thread

.

I used the above AFL and tried to explore, it didn’t return any valued. it can be used as is?

 

[Happy_Singh]

Try changing the Filter

Filter = Day()!=Ref(Day(),1);

or

Filter = TimeNum()>152500;

.

 

[marimuthu13]

Try changing the Filter

Filter = Day()!=Ref(Day(),1);

or

Filter = TimeNum()>152500;

.

have you tested " 90% of time day high /low formed during 90 mins of range"

 

[XRAY27]

Hope you are doing good

.

Going good,with usual cycles..,

 

[checkmate7]

have you tested " 90% of time day high /low formed during 90 mins of range"

If you look stat wise High formed around 25-30% time on first bar in 5min TF
High formed around 36-40% on first bar of 15min TF

Same way Low also has the same stat.

Note: Tested on data range of more than 10+ years on maximum Nifty50 stocks

 

[marimuthu13]

If you look stat wise High formed around 25-30% time on first bar in 5min TF
High formed around 36-40% on first bar of 15min TF

Same way Low also has the same stat.

Note: Tested on data range of more than 10+ years on maximum Nifty50 stocks

But bro, as per link shared by happy, there is one condition after 90 minutes , 90% of time high /low formed based on early breakout

 

[TraderBharath]

Try changing the Filter

Filter = Day()!=Ref(Day(),1);

or

Filter = TimeNum()>152500;

.

Using the bold code returns Bar No as 1 for all days. Using the other doesn’t show any value.

 

[checkmate7]

But bro, as per link shared by happy, there is one condition after 90 minutes , 90% of time high /low formed based on early breakout

If you are saying what Al brooks have then he has not tested Indian Market...

Now If you see for 1hr TF that is 60min our percentage increases to 45-55% so for 90mins it will also increase but not much variation of maximum 5%..

 

[checkmate7]

Using the bold code returns Bar No as 1 for all days. Using the other doesn’t show any value.

I have modified and used below for exploration..hope it works for you

Filter = TimeNum()>=091500 AND TimeNum()<153000;

 

[marimuthu13]

If you are saying what Al brooks have then he has not tested Indian Market...

Now If you see for 1hr TF that is 60min our percentage increases to 45-55% so for 90mins it will also increase but not much variation of maximum 5%..

Yes ..that's what i also understand..just cross checked with data , it is around 50% of times only whereas al book claim more than 90% ,....so thought of asking it..thanks for clarification brother