The principle behind the "London Open Strategy" is to trade in the
direction where the profis push the currency pair after the london
session has open [GTM 8am].
Trading pair is EURUSD.
If price breaks above the high of the last 3 bars (from the asia
session) the system open a long order.
If price breaks below the low of the last 3 bars (from the asia
session) the system open a short order.
The system trades also the new york session[GTM 13] with the same
condition, if no order is running.
On friday, to avoid of lower leverage for weekends, no orders are
created.
After a loss, the strategy trade a new order in the opposite direction
from the loss trade.
The takeprofit will be rise up to compensate the loss.
After compensate the loss, the takeprofit is set back to normal
takeprofit [6 Pips].
The strategy makes sure, that at least 20 orders are traded.
If not enough orders could be created, because of no condition or long
running orders, another substrategie opens at the last trading day
orders after 1h bar.
If the one hour bar is long a long order is created with a takeprofit
of 2 Pips. If the one hour bar is short a short order is created with
a takeprofit of 2 Pips.