The instrument used in this competition strategy is GBP/USD.
The logic is based on firstly identifying whether the short term
market is trending or flat.
To do this I use two exponential moving averages indicators viz.,
EMA50 and EMA200.
If the market is trending and there are no orders currently open:-
conditions for a Market Order with Slippage to be opened are set and
applied..
The TP:SL ratio is 15:8.
If the market is flat and there are no orders currently open:-
conditions for a Market if Touch Order (MIT) to be opened are set and
applied.
The TP:SL ratio is 1:12.
The time to expire for the MIT Order is about 2 hours 5 minutes.
The variables in this strategy have been optimized using the
Dukascopy
Historical Tester.