OHLC data for scalping strategy that doesn't trade intra candle, only on candle close...?

[martymoon120]

Hi all,

I know that this questions isn't vanilla fxDreema but I'm hoping some of you experienced hands may be able to help - re back testing my EA.

Clearly there are huge differences in results between back testing using OHLC and 'Every Tick based on Real'. My strategy is catching small pullbacks on the 1m XAUUSD in the NY session i.e. when price is really moving. But it only opens/closes trades after a candle close. I'm not concerned about all the tick movements within the 1m candle, just so long as the OHLC is correct. My orders are also a good few pips away from these points too.

Of course I will forward test, but do you think that back testing on OHLC (or even 'Every Tick') will give me a sufficient idea as to whether the strategy is worth pursuing? It's just that everything I try using 'Every Tick based on Real' turns to crap, even when manual review and logic suggests otherwise.

What is your opinion?

Regards,

Martin.

[martymoon120]

I assume that the Once per Bar block processes only on the first tick of the open? I'm quite happy trading off of that. So if I use that block in my EA I should be able to replicate OHLC testing results in live/demo...?

[jstap]

I would use every tick, once per bar does work once when a new candle gets its 1st tick. You could use time now==candle time, this will work at candle open only, but it may not work on every candle.

[l'andorrà]

Agreed. I never back test anything that is not on tick.

[martymoon120]

But if I understand correctly, if I wanted to use OHLC testing, I should have 'Once per bar block' above every process in my fxDreema canvas...? And design my strategy so that it only trades at candle open...? I then wouldn't care what all the in between ticks were doing, I'm just making my decisions based on OHLC, right?

[jstap]

Anything under once per bar, will only work once per bar.