Since the attachement I’ve made multiple other versions by now Looking for what will feel like a good thing to run as forward for few weeks.
I would not say this is a “kind” of strategy. I’m creating literally dozens of simple EAs and looking for some edge. This was just one of the ideas. Idea is, that if you have large move (here a candle), there is a quite a big chance, that market will reverse just a bit and this is what I want to scalp.
If it won’t give me these few pips, I go with averaging down waiting for a pullback. The bet here is that averaged down price will be picked up with next significant pullback before running out of free margin
So far I’ve been averaging with each candle. It worked fine, but there are cases where market goes sideways and the averaging slows down. So now I am checking the averaging down using a grid with ATR*something as step size. This way free margin is used to open only with prices which pulls the average down. Next idea is to not wait for whole position to be in profit, but close intermediate grid trades, if in profit and reopen, if market comes back to the same level. It won’t change the overall averaged down price but may give some profits. In extremely good scenario multiple intermediate profits can “buy out” whole losing position. Hope this makes sense
Having a fixed limit of open positions I consider deadly, as whole profitability depends on ability to open positions until you profit This is a bit gambling, but you can set it up in a way, that going broker is VERY not likely (but with still non zero chance).