Hello,
I’m pretty new to forex (about 10 mnts paper trading).
But, I think I have a good idea for a system.
If any of you think it is good, I need one of you to make me an EA for back testing.
You might think this is too simple.
1H tf, Eur/USD (u could try other pairs but this has low spreads)
If the present bar is an up bar, place a sell stop at the low of the bar and and a stop loss at the high. [If it gets triggered wait for the 1hr bar to finish, if you are up more than 5 pips but less than 15 pips close the trade and now reverse the procedure(meaning place a buy stop at the high of the current bar and a stop loss at the low). If it is more than 15 pips move your stop loss so that you are guaranteed 10 pips and wait for the new 1 hr bar to close and repeat]. [If it doesn’t get triggered, move your sell stop under the low of the next up bar and follow the above procedure]
Note, if you start with a down bar just reverse everything.
Depending on your account size use position size which you can comfortably compound your wins.
You could try reverse pyramid for compounding and increase start of pyramid every time a pyramid comes to an end. And decrease the start of pyramid every time you lose a trade.
Thank you