True Range Breakout EUR/USD
April 18, 2017, 12:59 PM
Strategies
15 Comments
Simple 1 hour intraday trading strategy on EUR/USD (mini).
This automated trading strategy takes orders if the current candlestick is wider than the 12 periods average true range. Trades direction are chosen with this breakout candlestick color. If the current candlestick is green, then the trend seems bullish and a long order is initiated. If the breakout candle is red, a new bearish trend is forming and a short trade is launched at market.
It is a simple and a quite effective strategy with 3/1 risk reward ratio.
// EUR/USD(mini) - IG MARKETS
// TIME FRAME 1H
// SPREAD 2.0 PIPS
DEFPARAM CumulateOrders = False
DEFPARAM FLATBEFORE = 080000
DEFPARAM FLATAFTER = 210000
atr = AverageTrueRange[12]
// LONG
IF (abs(open-close) > (atr*2) and close > open) THEN
BUY 1 CONTRACTS AT MARKET
SET STOP pLOSS 40
SET TARGET pPROFIT 120
ENDIF
//SHORT
IF (abs(open-close) > (atr*2) and close < open) THEN
SELLSHORT 1 CONTRACTS AT MARKET
SET STOP pLOSS 40
SET TARGET pPROFIT 120
ENDIF
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Bildschirmfoto-2017-04-21-um-21.15.19.png
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true-range-breakout-EURUSD.itf
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