Was scrolling through some systems and tinkered around with one of them and feel I may have something potentially viable. The system I looked at was '5min Bollinger breakout system' here. I played around a bit and this is what I've come up with.
Open a 1 hour chart of EUR/USD or GBP/USD.
Add ADX (14) to Typical Price and add a level of 30.
Add Demarker (14) with levels of 0.3 and 0.7.
Optional - Add ATR (14).
Buy setup: wait for ADX to cross above 30 on close of last bar, Demarker must be above 0.7. If Demarker is already above 0.7 then buy. If Demarker is below 0.7, wait for it to cross above 0.7 before buying.
Sell setup: wait for ADX to cross above 30 on close of last bar. Demarker must be below 0.3. If Demarker is aleady below 0.3 then sell. If Demarker is above 0.3, wait for it to cross below 0.3 before buying.
SL and TP - Im still working on this aspect but using 1 x ATR (14) appears to work well.
I welcome any constructive ideas. Have not traded this live.
Open a 1 hour chart of EUR/USD or GBP/USD.
Add ADX (14) to Typical Price and add a level of 30.
Add Demarker (14) with levels of 0.3 and 0.7.
Optional - Add ATR (14).
Buy setup: wait for ADX to cross above 30 on close of last bar, Demarker must be above 0.7. If Demarker is already above 0.7 then buy. If Demarker is below 0.7, wait for it to cross above 0.7 before buying.
Sell setup: wait for ADX to cross above 30 on close of last bar. Demarker must be below 0.3. If Demarker is aleady below 0.3 then sell. If Demarker is above 0.3, wait for it to cross below 0.3 before buying.
SL and TP - Im still working on this aspect but using 1 x ATR (14) appears to work well.
I welcome any constructive ideas. Have not traded this live.