32 points strategy - breakout with sell/ buy stop
This idea I have found in the education area of Roboforex.
When I go back thru the D1 chart it seems that the strategy is working good.
Example:
In order to place pending orders the closing price of the previous day will be used. From this price the EA should place pending orders: BUY STOP and SELL STOP at the distance of 32 pips.
The level of Take Profit: 35 pips.
The level of Stop Loss: 28 pips.
Example of placing a pending order
For example, the price of the previous day was 1.1516.
The level of BUY STOP will be calculated as follows: closing price of 1.1516 + 32 pips = 1.1548
The level of SELL STOP will be calculated as follows: closing price of 1.1516 - 32 pips = 1.1484
The pending order should be placed with beginning of new day candle. If none of the orders have been activated within a day, pending orders will be cancelled at end of day candle
To make the strategy more flexible the distance of the pending orders, TP and SL should be indivual set able.
CP test strat32.set
I will test different settings and additional filters to reduce fail breakouts.
Maybe the idea more usable for general commission with a cash back reward 😉
good job