My vote is for Donchian channel breakouts for two reasons: It can be reduced to a single parameter. You can avoid that stop-and-reverse nonsense. DCB strategy: Go long when the current close equals the n-day highest close. Exit long when the current close touches or falls below the median price. Go short when the current close equals the n-day lowest close. Exit short when the current close touches or rises above the median price. The median is the average of the n-day highest close and the n-day lowest close.
the simplest strategy is to buy or sell with the trend. seriously. this is it. does not get any simpler.
I would say the *simplest* strategy is the Opening Range Breakout ... it is kinda variation on the theme buy/sell & hope, with no guess-work on whether one should buy or sell.
ORB: - pick a time horizon for your trades - classic is day, but that can be just as well weekly, monthly, or hourly - define how long the Opening Range will be - this is the main parameter - once the Opening Range is set, place a stop order just outside of the OR in each direction - the distance from those 2 stops to the OR is the 2nd parameter - when the trade is entered through one of those 2 stops, the other one becomes the trade stop - exit at the end of the time horizon - or when stopped The classic usage of ORB uses 1-day as time-horizon, and anywhere between 5-min .. 1-hour to define the Opening-Range. Lots of additions can be made to the basic ORB strategy, in particular: - trade management (although in most cases, it will defeat the purpose, which is to capture trend days when they occur) - trade selection (for example, use an NR4 or NR7 filter, so that ORB is only used after a period of volatility reduction)
Other: Use volume to determine turns. Analyze what action to take on a turn: reverse, early entry, hold thru or sideline.