Ok, here is how it works:
Can be used on any timeframe, and chart.
Eachtime frame will have a different range on the candlestick.
I will explain how 1 hour works:
We look back about 350 bars (All the bars from 1 to 350).
If the range of a candlestick is above lets say 150 pips, this is called the master candle.
Ok, from the 350 bars, then can be many master candles, this is all the candles on the 1 hour chart with a range greater than 100 pips.
If the current market price is below the master candle, then buy at 1/3rd of master candle, and tp at 2/3rd of master candle.
If the current market price is above the master candle, then sell at 1/3rd of master candle, and tp at 2/3rd of master candle.
Stop Loss 30 pips.
Its a very simple EA. let me know what you guys think.
You will find the following diagram helpful in understanding how this strategy works.