Strategy:
Previous day breakouts (day trading, set and forget approach)
Idea:
Buy when prices breaks through above 10% of previous day High.
Sell when prices breaks through under 10% of previous day Low.
TP/SL:
This is where is gets interesting. I have been manually backtesting GBPJPY for a couple of days and it takes forever, thats why we need an EA to speed up the process and come up with the best TP/SL and P/L ratio
The EA would be able to adjust it in seconds.
Backtest results:
At 5% risk per trade
GBPJPY, TP 120 pips, SL 30 pips. 4:1
October 2017 12%
November 2017 -13%
December 2017 48%
January 2018 53%
February 2018 34%
March 2018 9%
GBPJPY, TP 100 pips. SL 10 pips, 10:1
March 2018 95%
I have backtested a similar strategy 1 year ago, the post is called " Pietro’s GBPJPY Daily candle Breakout strategy ", have a read and if you think you can code an EA for that, please get in contact with me and lets make some pips together!
Thanks