how big is the average percent difference between high and open?
Here is the result:
but what can we do with it?
when the intraday price is above the open plus 23,72 % of todays range(high-low) it is an indication, that the close will not be under the open. we don't know todays range, but we kow the of the last 5 days .
but is it enough to make money?
The strategy tester shows the result.
On friday we place a buy stop at the open + 24% of the daily atr(5).
exit at the end of the day.
Do not get me wrong, this is not a complete system.
but it gives you an idea.
ps: long every friday makes a loss $-1364 and 39,71% percent profitable