Identifies the first bar of each session and checks if it is positive.
Draws entry and stop-loss levels based on the TH's FBP strategy.
Marks potential entry and stop-loss points with triangles on the chart.
Use on 5 min charts as the strategy is designed for a 5min timeframe.
This code snippet below is a quick and dirty follow up to some statistical analysis performed on the FTSE 100. It showed that over the long run, (since 1995) going long on a Friday appeared to have a statistical edge (53%). As a bit of fun, I wanted to create a quick pine script backtest to test this and see if it is possible to profit from it. After all, the...