Description of indicator: This strategy is based upon on a
combination
of Alligator(setting 13,8,5) and DMI (parameter setting 14) a well
known indicator. Timeframe: This strategy works better in 1 hour time
frame. Currency pair: To get signals you need a trending market so
the
currency pair I used is GBPJPY. Trading logic: it creates a buying
position when a new candle opens above alligator jaw and adx is
rising
above 21. And it create a Selling position when position when a new
candle opens below alligator jaw and adx is rising above 21. Method
of
traded Volume: I used a fixed volume of 5 lot amount to trade
with.Takeprofit and stoplos: Initial take profit is set at 50 and
stoploss is 125. However ,everytime when TP is reached 21, it will
set
stoploss to -10 to minimize the loss if market reverse.