Disliked@bill: don't know. I haven't test it yet.
@eagle: Everything is written in the rules, so what's your question?Ignored
Anyway, I just spent a few hours looking at this. I don't see how you're coming up with your numbers. Based on the chart you supplied, I deduced you're using a broker with a similar feed to ODL (GMT+0) and 6p spread on GBPJPY. With that in mind, I analyzed May and June based on the rules you presented here.
Here's what I came up with.
So, I'm seeing a loss of over 300 pips in May as opposed to your gain of just over 100 pips. My number for June is also lower than yours.
In May, there were at least 3 instances where profit could have been captured at 70p before price retraced and led to a large loss. This system leaves too many pips on the table and needs a better method for protecting gains.
Regardless, you might want to double-check your results. Or feel free to post a trade log showing each entry/exit. I mark up MT4 charts with Left/Right arrows for entries/exits which makes it quite easy to spot the trades. If I had more faith in this, and felt like investing even more time than I've already spent, I'd go ahead and post my trade log, etc. However, at this point I'm concluding there's something way off with your trade log accounting.
Anyway, interesting concept. Where did you get it from? Is this straight from DeMark? With a better method of protecting profits, there might be some merit to this. But, as is, it doesn't work as advertised.
Thanks for sharing. I don't mean to sound too negative, but, the devil's in the details with this kind of stuff.