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What’s going on guys so this is another one of those great videos you’re going to want to watch to the end um before I get into that we stream live every day 10:30 to noon and about 2 p.m. to 4:30 every day here free on YouTube if you like these types of videos smash the like button subscribe if you want to support the stream use coupon code Cove Trader it works at all the prop firms all right so today I bring
You a video that’s backed by stats um it was tested over 10 years worth of data it is not something I found but uh I found a guy on Twitter that was posting this stuff and um super interesting he’s got his own site it’s called NQ stats and uh he’s on Twitter mq stats or X as you guys uh as it’s now named you can see uh the metrics are calculated from 10e sample very interesting so I don’t know why more
People aren’t talking about this um basically I’m just going to go over it basically if the 9:00 a.m. takes out the prior high and then trades back back to the hourly open before the hour ends 83% of the time in that hour 72% and you could see it’s pretty interesting right it’s going to get more interesting once I scroll down I just want to go over this a couple times seems like in the the low is taken out in the 9:00
A.m. hour of uh the previous hourly candle 88 three so obviously this hour has the best um rate of returning and all these are obviously really good right but it gets better than this so I have a script that kind of bases all the hourlies here and I’ll get into that as well and I’m going to show you some examples and I can’t believe this works uh I would never have thought something like this but uh it opened up my eyes
So one of the things is how do you play this and where do you get in and everything else like that well now it’s broken down in 20 minute segments so if the prior high or low is taken out within the first 20 minutes now the odds of it returning are super high look at this if it doesn’t happen within the first 20 minutes it happens in the middle of the candle it’s kind of a coin flip and it happens on
The back end you definitely don’t take it so the only thing that interest me is the first 20 minutes of an hourly candle if it sweeps the high or the low because the odds of returning back to the hourly open is basically over 85% um I’m willing to bet I’m willing to bet a trade on 87% I mean if it happens 87% of the time I’m I’m taking it I’m just telling you I’m taking it there’s no reason not to um
Especially at the 9:00 a.m. hour I mean it happens 94% and 93% of the time why uh why would I not take that um yeah so let’s get into uh the script I’m using it’s HTF candles and I basically have candle boxes only time interval 1 hour so basically it boxes off off hourly boxes uh I mean that’s pretty much what this is the hourly box and this is the five minutes it trading within the hourly box all I care about
Is the first 20 minutes so it’s the first four candles I’m looking for the sweep below and then for it to re-enter the hourly candle and I can’t believe this works so often basically the first five minutes sweeps trades back through you would obviously you would buy at uh 20 basically 22,2 and uh the opening was 22,31 and that would be your sell point no I apologize it’d be 2210 that’s where it opened at so this is an eight-point trade um
I’m just looking for examples you know this would not qualify you know you’re looking for like small like not small sweeps you’re looking for sweeps so here’s one that actually is that a wick no it doesn’t see sometimes with this script because this line lines up it kind of looks you know but here’s one the fir it sweeps above the hour in the first 15 minutes we opened at 66 we would have swept above and sure enough it freaking returns it’s
Not a big trade at all but the fact is that it does it and it’s so mindboggling to me I’ve never tested this before um obviously I I’m I’m not so even on this down so yesterday yesterday was a massive down day and even on this massive down day it worked it swept below you would have gotten back in at 79 and you would have taken this up to 95 for the win that’s crazy so you would have went long on
This crazy down day and you would have made you would have made money this doesn’t constitute because it never sweeps back in 5 10 dude even on this it basically you trade back in here it almost goes back now listen would I have taken Longs on this day the answer is no to be honest with you um I I would not when there’s news involved that’s this bad you would not see me taking long cuz I have other indicators and like
I said but it it’s over it’s backed over 10 years worth of data which is which is absolutely crazy if you think about it you know here’s another one you you open up you sweep above we opened at 127 you would have got in at 142 and it would have came back down another winner this swept above in the first five minutes another winner swept above in the first 20 minutes another winner this is crazy I I mean I got to
Figure out um I’m probably only going to trade the uh you know 8:00 to 400 p.m. where he has the data on it but but uh it’s so interesting to me here’s another one sweeps above comes back through would have got paid so I I’m not going to go through all these because I don’t want to bore you but it’s very uh interesting and I will uh I’ll be playing this
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