Strategy work in EUR/USD pair. Strategy has 2 branches. First branch
opens 1 or more positions
during day (if there is no open positions from previous day) until
some position is closed with profit.. Amount of
position is 3.5M, amount of second and following positions is
increased 2 times. Before using this amount for trade check if there
is enough margin is made. If margin is not enough amount is decreased
in order to conform margin requirements. Additionally initial SL is
increased by 10 pips and
is increased by 25 pips. Initial SL is set to 45 pips, TP is
to 11 pips. First
position is dedicated for benefiting from daily candles tails.
Strategy checks if rate is higher or lower than daily candle open
value by 10 pips and if it is a case opens SHORT or LONG position.
Principle of such logic is that daily candles usually have tails and
move to one direction is usually followed by move to another direction
before daily trend is unveiled. If this
trade not succeed another trade is opened by using principle
above. Principle of second and following trades opening logic is that
to either direction (SL is set to 55 pips or more) usually is
pullbacks. As second and further positions amount is higher and TP is
bigger following positions is also
dedicated to cover previous positions losses. (first and second
(second depending on accrued balance)
full, third and further partially)
Second branch every 4 hours checks situation in the market by
measuring 1 hour RSI and if RSI is higher than 72.5 short position of
10M, TP 5 pips, SL 45 pips is opened and if RSI is lower than 27.5
of 10M, TP 5 pips, SL 45 pips is opened.
Also this branch is checking if opened position isn't quite old in
particular older than 1,5 days. If it is a case position is closed.