This is a really simple system in its base form. It has no filters or money management. I submit it only to show what can be done with VERY simple entry & exit rules. I’m pretty sure this could be developed further into an implementable system.
The basis is EUR/USD on 2h timeframe. It might work on other assets, I haven’t tried yet.
The system will initiate a long if there is a green body exceeding ATR(20)*2. It will exit the long on another green body exceeding ATR(20)*2, or on the 9th bar after entry, or if a short position is initiated.
The system will initiate a short if there is a red body exceeding ATR(20)*2. It will exit the short on another red body exceeding ATR(20))*2, or on the 9th bar after entry, or if a long position is initiated.
There you go, as simple as that. Good luck with your adaptations!
ATR = AverageTrueRange[14](close)
LongEntry = close - open > ATR * 2
LongExit = close - open > ATR * 2 OR BarIndex = TradeIndex + 8
ShortEntry = open - close > ATR * 2
ShortExit = open - close > ATR * 2 OR BarIndex = TradeIndex + 8
Maxpos = 1
// Conditions to enter long positions
IF CountOfLongShares < MaxPos AND LongEntry THEN
BUY 1 CONTRACTS AT MARKET
ENDIF
// Conditions to exit long positions
If LongOnMarket AND LongExit THEN
SELL AT MARKET
ENDIF
// Conditions to enter short positions
IF CountOfShortShares < MaxPos AND ShortEntry THEN
SELLSHORT 1 CONTRACTS AT MARKET
ENDIF
// Conditions to exit short positions
IF ShortOnMarket AND ShortExit THEN
EXITSHORT AT MARKET
ENDIF