Nov 10, 2023
Why do you want to consider the closing bar? Better to do the opening bar since that's what will be in play any given day.
In fact, you've given me an idea. Draw a Darvas Box around the opening bar and go long if it comes out of the top of the box, go short if it falls out the bottom of the box. Use the corresponding top or bottom of the box as the stop loss.
If the stop loss is not hit, the direction you are in is the trend.