The strategy uses the hourly chart. First you look at the 8 clock candle
If this candle is long then you're waiting for the next candle which is short.
If that happen you create a short order with a stop (30pip) and a limit (20pip)
If this candle is short then you're waiting for the next candle who is long.
If that happen you create a long order with a stop (30pip) and a limit (20pip)
User can switch the Buy and the Sell indications, or hedge if he wants.
This strategy runs by the minute, but you set the time period with the "Minutes Indications" setting. For example. It is set on 60 Minutes (1 Hour) by default. Three points:
- It will act more accurately in the Tester this way than if you set "Minutes Indications" at 1 and run it in hourly mode.
- It does not open Trades exactly at the top of the hour necessarily. It only measures trades by the hour (or whatever number of minutes you set it at).
- Because it runs on minutes, it takes a lot longer to run a day. A day has 1440 minutes rather than 24, like it has hours, and the Strategy checks them all for a 60-minute reversal.