Strategy: Daily Range Spike and Pull Bac

Hello everyone,
This is one of the strategies that helps me make more profits. I gave it a name: Daily Range Peak (DRS) and Retracement

Here are the rules:
1/ Check yesterday's range (open price - close price) ) from 80 points above.

2/ View today’s point value: price from daily opening price to current price (bid/ask)
+ Minimum: 5 points
+ Max: 50 points
3/ Open for trading:
- If yesterday was a bullish candle, sell
- If yesterday was a bearish candle, buy

Take profit: 20 -35 points
Stop loss: 2 options Option 1: 20-25% of account equity, no stop loss by pip/price.
Option 2: Check 5-10 daily candles and place your stop loss above/below their highs/lows.

4/If the price is opposite to the direction of the trade
- Check distance points since first entry, Bid/Ask >= yesterday's range/2 or at least 25 points.
- Open a second trade with the same lot size (martingale possible), without target price.
- Close all trades when basket profit >= 2 or more...



You can also run breakeven or trailing stops

result:


Here is a small indicator that helps you find spike bars, showing yesterday/today's range...

1. https://www.mql5.com/en/market/product/57435

MM is very important for this strategy.

Good luck.

Thanks to @TheZenienss for the example: