New forex strategy - based on MTF candles

I am going to share a strategy.....

BUY entry:
- Wait for a current hour candle to close
- If all 4 of the last candles (M5, M15, M30 and 1H) closed in “green(buy)” – wait
for the price to go another 3 pips above the close and instantly place a BUY
order.
take profit 20-30 pips
stop loss below of last candle on H1 chart

SELL entry:
- Wait for a current hour candle to close
- If all 4 last candles (M5, M15, M30 and 1H) closed in “red(sell)” – wait for the
price to go another 3 pips below the close and instantly place a SELL order.
take profit 20-30 pips
stop loss above of last candle on H1 chart

what you think about this strategy .
If you like then please reply

I like simple things

Thanks for Sharing

Friend, do not waste your time on this strategy

Lol

I encourage you to pursue your goals in forex trading. But Honestly, you still have a long way to go.

Interesting idea, have you backtested this over a long period? What are the results? This type of strategy is really easy to backtest, if you haven't.

Ironically, p, the idea might be simple enough to actually work... (but I won't trade it).

Check this out, which is virtually the same :

https://www.dukascopy.com/fxcomm/fx-...53&language=en

Of course, the secret is the mindset, but virtually no-one talks about that here...

Here you will find the complete strategy: http://www.forexfactory.com/attachme...9&d=1325457801

A small tool for observing success rate. copy it to folder...\scripts.

Great job, lghr! It would be nice to understand whats behind your script. Is it possible to get it as test.mq4 file?

Entry in an overextended one hour market? What about sharp pullbacks that all too often happens right after such closed candle you've mentioned? Even if a pullback is seen, there still leaves a lot of speculation as to whether this pullback is complete. Maybe in a strong trend this is possible. I still wouldn't trade this way, though.

ok! it is very very simple.