The algorithm is searching for situations, where the range of the last 8 bars is wider than 60 pips. Opens a long position if the close is above and a short positions if the close is below the range.

Unfortunately I only have backtest data since 11/2015 for the 5 minute chart. Maybe somebody can backtest with more data? Thanks!

// Timeframe M5
// EURUSD (IG - Markets)
// Spread 2 pips

DEFPARAM CumulateOrders = False
DEFPARAM FLATBEFORE = 080000
DEFPARAM FLATAFTER = 210000

IF (abs(close-open[8]) > 0.006) THEN
 IF (close > open[8]) THEN
  BUY 1 CONTRACTS AT MARKET
  SET STOP pLOSS 50
  SET TARGET pPROFIT 225
 ENDIF

 IF (close < open[8]) THEN
  SELLSHORT 1 CONTRACTS AT MARKET
  SET STOP pLOSS 50
  SET TARGET pPROFIT 225
 ENDIF
ENDIF

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Filename: trend-following-strategy-EURUSD.png

Downloads: 178

Download

Filename: trend-follower-EURUSD-5M.itf

Downloads: 493

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Currently debugging life, so my bio is on hold. Check back after the next commit for an update.

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