Scooby-Doo ADR OB_OS auto trading robot
As prices often retrace after huge daily move into the London close, there should be a chance to capture say a 20% retrace/mean reversion back toward open (ie. we can adjust the TP down from 40% at some times of day). With 1:1 RR at worst (if SL is set to 20% too) this could be a big aggregate winner (re multiple pairs), LOL.
Devious multi-pronged counter-attack on Mr. Market, here.
but so much "if", have you some preferences ?If we glance at "retrace" trades, only big bounces might be considered, bouncelets are killers account. So, ADR is technicaly something logical if we trade like a sniper, but it's so confused because of too short time decision.
Instead of thinking about ADR, push the madness to AWR (week) and consider w1 weaks vs w2 weaks to take the master decision: go long/short/none. Then take the slave decision with ADR if you like.
As well, a simplier and as secured trade decision can be taken using the fibo daily (or h4 or h1) levels 68. An other easy way to drive these "reverse time decision" is to use Linear Regression Channel, as used with TCF2 for example, but here with 2 LR: one driving the short time, says 20 bars or else, the other driving a longer swing, says 100 bars or more. In a trending swing, both 2 LR give the same decision, while reverse come, the shorter LR disagree with the other ( ie main LR fall and short LR is going flat or rise)
(see post 1 to find linreg_trendchannel indi into indicators zip)
