In my quest for a simple, reliable strategy to trade short time-frames, like 15 and 60 min charts, I have been playing with one that I call “Break or Bounce - 15M Mid-trend System”. I’m sure someone’s done it before in 100 different ways, but I have not taken the time to research it.
This strategy is designed to enter established, short-term trends, using only 2 indicators. Ich. Cloud and a 20 MA (I have the ATR on there to help determine my SL in pips). The idea is to wait for price to pass through the cloud, then either break the 20 MA, or bounce off of it. A bounce signals when you buy or sell. With the R:R preset you can set and forget.
SL 20 to 50.
RR = 1:1.5.
Enter after price and the 20MA both breaks through the cloud and are above (long) or below (short) the 20 MA, which must slope with the trend.
Here are some examples of buy/sell opportunities:
So far the results have been mixed, so I don’t have much data. But I will play with this over the next few weeks because I’m sure it’ll be tweaked a bit. I might reduce the SL or R:R a bit to give it a better chance of hitting the TP. Or take the TP out and use a trailing stop. Add SR levels, etc. There’s certainly more work to be done with this, I just need the time to do it.