based on my own indicator which works on statistically counted
averages of currency change in the period of time. If the last period
of time without any decided trend is bigger than average period when
we are noticing trend and the previous change was bullish indicator
tells bearish. And opposite. Depending on if last period is 2x or 3x
bigger we calculate direction of the future trend. If the current time
period of last decided trend plus the recent time when trend was not
yet noticed is smaller than average and previous was bullish we are
also bullish. And opposite. This calculation is made on basis of 7
different time period averages. Other indicators are TVS of the
current and last period. If current is bigger than previous and
current bigger than 0 and last lower than 0 we are bullish. And
opposite. Also EMA must be bigger from hourly high. And also SMA 20
must be lower than SMA 50. There are also reasons for not to open the
trade even if conditions above are met. One of those reason is when my
indicator is too bullish or bearish. That I interpret as oversold.
PERIOD is ONE HOUR. Take profit is about 100 pips. Stop loss not set.
The reason of stopping the trade is decreased angle counted between
time and position. For longer lasting trades I count angle
time/currency and I allow smaller angles. For newly opened trade I do
not count angle. For trades that recovered from big loss I close if
they reach at least -10 pips. If trade flips for a number of time
between lose and gain I close the trade. I trade with
USDJPY,NZDJPY,CADJPY,USDCHF,NZDCHF,CADCHF,AUDCHF. Each of the pair
have different parameters like for example value of TVS or EMA, SMA,
rules for closing a trade and opening a trade are different for each
pair. Volume is 10M.