This looks similar to my RAT REVERSALS!! GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. STOP LOSS IS ALWAYS 10 PIPS. RED RAT REVERSAL - SHORT ENTRY CRITERIA: 1) GREEN CANDLE CLOSES 2) RED CANDLE CLOSES 3) PRICE TOUCHES LOW OF PREVIOUS RED CANDLE - ENTER SHORT. STOP LOSS IS ALWAYS 10 PIPS.
I dropped the method a long time ago after a coder coded it for me and I discovered that it was a loser. This is not a new method no matter what you call it... eS
Very cool post, I agree entirely. Most people over-complicate trading when you can really boil it down to what you have posted here. Cool