I have an idea for an indicator/EA and was wondering if I could get some help coding it.
It would work on any time frame, probably hour
The basic guidelines are these:
1. If the order is long then it will stay long until the price drops below 50% of the previous bar. Ex. from hour 0-1 the price goes up 20 pips, hour 1-2 it goes down 7 (still no change), hour 2-3 up 14 pips, but then from hours 3-4 the moment the price drops 8 pips from the end of hour 3...then order is switched to short
2. The same is true for a short order, it will change to long once the price goes up 50% from the previous bar.
This way, the only time you are losing money it will be only 50% of what you made on the last time interval. This strategy does not work when one hour the price goes up, the the next it goes down, and repeats this for the whole day (which i have never seen)
Like I said, pretty simple but should bring in profit
If you see anything that would improve or help, please share your ideas
thanks