Sprint = Starts with checking instrument EURUSD and Chart period 1
mins. Goes on to input data such as Time in hours, minutes, seconds,
Date of month and Day of week. Indicators used RSI SL 11 TP 999
Default
Trade Amount 25. Trading time everyday before 20:00 GMT. Tries to
spot direction using RSI. The idea is very simple. For execution of
idea you need to go thru the strategy flow which is quite simple too
once you understand the idea. When RSI crosses 40 or 60 the last tick
bid is marked. To buy we will pick up the price at RSI(40) and to Sell
at RSI(60) if the momentum is in that direction. We will check RSI two
times at 40. If the momentum is building up last tick bid at RSI(40)
would be more for second time and we would buy. Similarly for Sell we
would check RSI at 60 two times. And last tick bid would be less for
second time if the momentum is negative and we would Sell. All
variables used to find momentum direction are reset once the order is
placed.
When order is placed the strategy checks for exit options. If profit
is greater than 11 pips then 8 pips are guaranteed. If it crosses 29
pips then 11 pips are guaranteed. And if it crosses 199 pips then 188
pips are guaranteed. Which means if profit falls below the guaranteed
level order will be closed. Order will be closed when date changes if
profit is between 5 and 99 pips. Or if its a friday it will be closed
after 18:00 GMT if profit is greater than 11 pips.