Take a look at this EA and let me know what you think of this strategy. Itís very simple and stupid and I never thought it would work. It just came cross through my mind.
It works only on EURUSD H4 timeframe. I have no idea why itís not working on other currency pairs.
This EA may have potential by adding some indicators.
It calculates the ATR over the period of 7.
double ATR = iATR(NULL, 0, 7, 0)*100000;
Entry rules are:
Buy: if ((Ask - Close) > (ATR * EntryFactor * Point))
Sell: if ((Close - Bid) > (ATR * EntryFactor * Point))
Exit rules are:
double StopLoss = ATR * SLFactor;
double TakeProfit = ATR * TPFactor;