DHR - Daily Half Range Strategy
Conditions:If price has moved half of the 10 day average range on a given day a trade is entered for 5 pips profit, stoploss 20-30 pips. One trade a day only.
For a buy trade price must have moved half the daily average range (ADR(period 10)), measured from the LOW of the current day.
For a sell trade price must have moved half the daily average range (ADR(period 10)), measured from the HIGH of the current day.
No trades for the first 1-2 hours after market opens to avoid false breakouts.
I trade this method live (small lot size) on EURUSD 15M chart.
Rough and ready testing on EURUSD 15M Chart shows the following results for 2023 Jan to 11 May 2023 so far.
Still improvements to be made regarding the few losing trades; testing a few differet options; martingale is a potential option as appears to lose only one trade in a row and then win the next at least 3-4 trades. Potentially a filter for high impact news as whiplash can be more than half daily ATR(10). Maybe look at days of the week etc.
Prefer no other indicators are to be used. Only price, and range such as highs and lows. The rest is via trade management.
This is a pure rule based system.
The template and indicator list and template in post 1 will be updated periodically as the method is made more precise.
Attached File(s)
DHR Template v1.tpl
15 KB
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285 downloads
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Uploaded Jun 6, 2023 6:48am
Attached File(s)
Daily Range Half Line v12.ex4
87 KB
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429 downloads
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Uploaded Jun 1, 2023 7:13pm
Attached File(s)
0 - Chart Symbol.ex4
9 KB
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249 downloads
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Uploaded Jun 6, 2023 6:47am
Attached File(s)
DHR ATR H1.ex4
11 KB
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301 downloads
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Uploaded Jun 6, 2023 6:47am
Attached File(s)
Pip Counter (Andrea).ex4
20 KB
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247 downloads
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Uploaded Jun 6, 2023 6:47am
Attached File(s)
pipsometer_5_decimal.ex4
15 KB
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236 downloads
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Uploaded Jun 6, 2023 6:47am
Attached File(s)
SL TP-OE PIP CALC INDY.ex4
6 KB
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267 downloads
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Uploaded Jun 6, 2023 6:47am
Use auto-refresh indicator to keep DHR lines updated.
Attached File(s)
AutoRefresh 509.ex4
7 KB
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335 downloads
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Uploaded May 25, 2023 9:30am
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