Strategy description:
Strategy does not use indicators, it is based on the use of long
shadows 1M candles, for this purpose take the last six 10sec candles.
EUR/USD pair, 10sec time period.
Strategy places short pending order when during 1 min. (last six
10sec
candles) shadow (Max - Close and Max - Open) >4.5 pips and shadow
Max
=> High (last 51 candles 1M) - 0.5 pip and shadow Close < High (last
31
candles 10M) + 10 pips and last 10M candle (Close - Open) < 20 pips.
Pending order is placed on the value = shadow Max - 1 pip.
Strategy places long pending order when during 1 min. (last six 10sec
candles) shadow (Close - Min and Open - Min) >4.5 pips and shadow
Min
=< Low (last 51 candles 1M) - 0.5 pip and shadow Close > Low (last 31
candles 10M) - 10 pips and last 10M candle (Open - Close) < 20 pips.
Pending order is placed on the value = shadow Min + 1 pip.
Initial TP=25 pips and SL=40 pips. Further, if profitloss => 6 pips
SL=open price +1 , if profitloss => 15 pips SL=open price +3 , if
profitloss => 20 pips SL=open price +10. If profitloss < -15 pips
TP=open price +1 pip.
Trade amount =7.5M . Strategy places pending orders from Monday till
Friday 19:00 UTC. Pending positions are closed forcibly on Friday
19:40 UTC. Open positions are closed forcibly on Friday 19:50 UTC.