I would like to share a simple meanreverting system that is based on the analysis of the last 3 candles.

A long range of the last 3 candles of at least 10 pips is considered, and for the short side a move of at least 25 pips.

Preferred indices France 40, Ftse 100 and Dax.

Timeframe 1 minute.Target 75 pips, Stop 70 pips and breakeven update every 30 pips.

Suggestions would be welcome.

DEFPARAM CumulateOrders = False
timeEnterBefore = time >= 083000
timeEnterAfter = time <= 213000

UNO = (open[2] - close) > 10*pipsize

IF timeEnterAfter AND timeEnterBefore AND (open[2]>close[1]) AND (close[1]>close) AND UNO THEN
BUY 1 CONTRACT AT MARKET
ENDIF

DUE = (close - open[2]) > 25*pipsize

IF timeEnterAfter AND timeEnterBefore AND (open[2]<close[1]) AND (close[1]<close) AND DUE THEN
SELLSHORT 1 CONTRACT AT MARKET
ENDIF

SET TARGET pPROFIT 75
SET STOP pLOSS 70

//startBreakeven = 5    //30   pips in gain to activate the breakeven function
//PointsToKeep   = 10     //5    pips to keep in profit above/below entry price when the breakeven is activated
//
//            test if the price have moved favourably of "startBreakeven" points already
//
// --- LONG  side

SCA = 30

IF LONGONMARKET AND (close - tradeprice(1)) >= (SCA* pipsize) THEN
breakevenLevel = tradeprice(1) + (SCA* pipsize) //calculate the breakevenLevel
//place the new stop orders on market at breakevenLevel
IF breakevenLevel > 0 THEN
SELL AT breakevenLevel STOP
ENDIF
ENDIF
// --- SHORT side
IF SHORTONMARKET AND (tradeprice(1) - close) >= (SCA* pipsize) THEN
breakevenLevel = tradeprice(1) + (SCA* pipsize) //calculate the breakevenLevel
//place the new stop orders on market at breakevenLevel
IF breakevenLevel > 0 THEN
EXITSHORT AT breakevenLevel STOP
ENDIF
ENDIF