This is a straight forward strategy that lends itself to the risk averse trader who likes taking profit quickly and locking in high percentage set-ups. (Go back test some pairs - Insane win rate on EUR/USD)
Indicators:
1) https://www.tradingview.com/script/Oc0wPx20-ATR-Spikes/
2) https://www.tradingview.com/script/7FieAJJo/
3) Heikin-Ashi Candles
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Buy Setup:
ENTRY:
1) AO is green and above 50.
2) Open on the next candle that printed green ATR SPIKE. (A++ SETUP IF ITS THE FIRST GREEN AO)
3) Stop loss set to the low of the candle that printed the green ATR SPIKE / OR 1X ATR.
EXIT:
1) If stop loss is hit.
2) Take profit at the close of the next candle that's above the open of the candle you entered on. (no matter what)
Sell setup is just inverse
Indicators:
1) https://www.tradingview.com/script/Oc0wPx20-ATR-Spikes/
2) https://www.tradingview.com/script/7FieAJJo/
3) Heikin-Ashi Candles
___________________________________________________
Buy Setup:
ENTRY:
1) AO is green and above 50.
2) Open on the next candle that printed green ATR SPIKE. (A++ SETUP IF ITS THE FIRST GREEN AO)
3) Stop loss set to the low of the candle that printed the green ATR SPIKE / OR 1X ATR.
EXIT:
1) If stop loss is hit.
2) Take profit at the close of the next candle that's above the open of the candle you entered on. (no matter what)
Sell setup is just inverse
Attached Image (click to enlarge)
