Scalping system #15 (Black Magic)
Submitted by User on August 30, 2010 - 01:05.
Submitted by Black
Timeframe: One Minute
Indicator: No Indicator, but use (High+Low)/2 rather than Close.
Currency: EURUSD (Others not tested.)
Trading Rules: When the current (High+Low)/2 is 11 or more pips higher than the previous (High+Low)/2, close any open Buy trades and open a Sell position. When the current (High+Low)/2 is 11 or more pips lower than the previous (High+Low)/2, close any open Sell trades and open a Buy position.
Test these additional Options before implementing:
1. Use Martingale of 2 on the number of lots of any losing closed positions before opening the next trade... with a maximum of 32 Martingale positions opened on any one trade.
2. Use Limit and Stop, or Trailing Stop.
3. When a Trade closes via Limit or Stop, open another either direction (or 2, both directions) with a Trailing Stop.
If anybody likes this strategy, and creates a MT4 EA, I would appreciate a copy sent to my email address below.