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#1
24-08-2009, 20:14
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Please help me test this strategy.
Attached is a chart that should explain it. As I am no good at annotating I will explain what needs to happen. The green blocks show the prerequisite for a long trade and the orange one the prerequisite for a short trade.
Short Trade: 2 consequtive bull candles with a higher high. Sell at the low of the first candle and put the stop 15 pips above the high of the second candle. Aim for 80 pips. Long Trade 2 consequtive bear candles with a lower low. Buy at the high of the first candle and put the stop 15 pips below the low of the second candle. Aim for 80 pips. No indicators are needed and backtests can be done visually. Clean and simple strategy, :D but how good is it? Use 1hr TF and higher. 
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