DislikedIf movement expands, why not to use static distance for new hedges? For example each 100p, but longs higher highest, short lower lowest? Why use indicators? What for?Ignored
That would work too.
It can work with or without the use of indicators if that's ones trading style. However, I trade price action and take signals around key levels primarily from bullish or bearish engulfing candles or pin bars and hammers.
I place a pending order after the 4-hour candle close and hedge at the opposite side depending on if it's a buy or sells. If price ranges I don't place another trade until the price starts to trend.
I have an EA that closes the hedge on each pair once the profit target is reached.
It's best to stay clear of the ranges to minimize drawdown.
Give the market little, Aim to take a lot!