FX:GER30   DAX index of German listed shares
101 0 2
on a friday the daily candle closes below the open:
how big is the average percent difference between high and open?
Here is the result:
Average((high-open)/(high-low)*100,137)
23,72%

days
137

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 average true range 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.
no stop.

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
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