I have a thought. This system could probably also be used with success on smaller timeframes than the daily with one exception. Trading would need to begin at around 6ish GMT morning and end at around 5ish EDT. That way you can ensure volatility will be maximised (a ranging market will kill this system).
I realise an ea would be simple to make with one indicator, but if someone could code one with some simple money management and EA execution timing, I'd be happy to run some forward tests on it on various timeframes.
-Benjimang
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