I just had an idea, but we need an EA to test it. It's relatively simple.
First we need an Ichimoku. We place it on M5 chart.
It works on a pattern on 3 bars. The first 2 bars set it up, the open of third bar is when trade is placed.
To make simple my English, bars are ......1,2,3(current bar)
Long entry rule:
Bar 1 under or inside cloud. Bar 1 close above cloud.
Bar 2 is bullish (only bullish. If not bullish, it is invalid)
Bar 3 open enter buy
Short entry rule:
Bar 1 above or inside cloud. Bar 1 close under cloud.
Bar 2 is bearish (close<open && open!=close)
Bar 3 open enter sell
Please look at pictures to explain what I mean.
Simple TP and SL values.
It needs simple time filter. Can only trade between 6AM and 8PM GMT
Thank you for your time