This is a trend based strategy using Simple Moving Averages and
specific Candle Pattern. Here are details of my strategy:
Explanation of chosen settings. Time frames, currency pairs, SL, TP
and other settings.
1) Time Frame = M1
2) Currency Pair = EURUSD
3) Stop Loss = 20 Pips
4) Take Profit = 10 pips
5) Weekend Filter = All trades closed at 20:00 hours on Friday
Method of trade volume calculation
1) Initial Risk = 4 Million Lots
2) Risk is constantly adjusted after each trade, whether in profit or
loss
3) Once a threshold of 4.99 Million lots is reached, then next trade
will open 4.00 Million lots
Trading Logic. Where and how strategy trades.
Buy Order
1) Simple Moving Averages are used for trend direction
2) If SMA 47 > SMA 49 & SMA49 > SMA51 & SMA 51 > SMA 53 & SMA 53 >
SMA 55 & SMA 55 > SMA 57 & SMA 57 > SMA 60
3) If Previous Candle 3 High > Candle 2 High & Candle 2 High > Candle
1 High & Last Candle Open < Last Candle Close
4) If Ask Price is above SMA 53
5) Then open buy order
Sell Order
1) Simple Moving Averages are used for trend direction
2) If SMA 47 < SMA 49 & SMA49 < SMA51 & SMA 51 < SMA 53 & SMA 53 <
SMA 55 & SMA 55 < SMA 57 & SMA 57 < SMA 60
3) If Previous Candle 3 High < Candle 2 High & Candle 2 High < Candle
1 High & Last Candle Open > Last Candle Close
4) If Bid Price is below SMA 53
5) Then open sell order