Hi There,
Visually doing back testing gives amazing results on this strategy, looking for some coders to create an EA.
Time Frame: Daily
LONG Trade: Look for 2 consecutive bull candle, set pending long order at high (combining both candles) +10 pips and SL LOW - 5 pips.
TP: none, just keep moving the SL. For Ex. If the trade starts to go in your favor, let it go and keep waiting for 2 consecutive bear candles, once identified move the SL to LOW-5 pips of these 2 bear candles.
SHORT Trade: Just opposite of LONG
OK, lets say your pending LONG order didn't trigger and you see 2 bear candles, Cancel the long order and set pending short as per strategy.
Following ex of AU trade
Visually doing back testing gives amazing results on this strategy, looking for some coders to create an EA.
Time Frame: Daily
LONG Trade: Look for 2 consecutive bull candle, set pending long order at high (combining both candles) +10 pips and SL LOW - 5 pips.
TP: none, just keep moving the SL. For Ex. If the trade starts to go in your favor, let it go and keep waiting for 2 consecutive bear candles, once identified move the SL to LOW-5 pips of these 2 bear candles.
SHORT Trade: Just opposite of LONG
OK, lets say your pending LONG order didn't trigger and you see 2 bear candles, Cancel the long order and set pending short as per strategy.
Following ex of AU trade