FREE FOREX STRATEGIES

Scalping system #15 (Black Magic)


Submitted by Black

Timeframe: One Minute
Indicator: No Indicator, but use (High+Low)/2 rather than Close.
Currency: EURUSD (Others not tested.)


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HL/2 is simply the High added to the Low and divided by 2.
This is (High for the Period + Low for the Period)/2.
It is often a much better indicator of the true trend than the Open or the Close.

Exit rules are simple. When a difference of 11 or more pips between the current Period (H+L)/2 and the previous Period (H+L)/2 is reached, do 2 things: 1) close all open positions; 2) Open a new position against the direction of the last period.

In other words:

At the close of any given minute, if Just-Closed Minute's (H+L)/2 was 11 pips or more higher than the Previous Minute's (H+L)/2, close all open positions and open a new Sell trade.

Also, at the close of any given minute, if Just-Closed Minute's (H+L)/2 was 11 pips or more lower than the Previous Minute's (H+L)/2, close all open positions and open a new Buy trade.

please explain exit rule in detail....

Could you expand on the HL/2. Is this a MA ? How do you show this on your chart.


 

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