DHR - Daily Half Range Strategy (DHR - Daily Half Range Strategy)
DHR - Daily Half Strategy
condition:If the price moves half of the 10-day average range on a given day, place the trade for a profit of 5 pips with a stop loss of 20-30 pips. Only one transaction per day .
For a buy trade, the price must move half of the Average Daily Range (ADR (Period 10)), measured from the day's lowest price.
For a sell trade, price must move half of the Average Daily Range (ADR (Period 10)), measured from the day's high.
Trading is prohibited within the first 1-2 hours after the market opens to avoid false breakouts.
I use this method for live trading (small lots) on the EURUSD 15M chart.
A cursory test of the EURUSD 15M chart shows the following results from January 2023 to May 11, 2023 so far.
Still could be improved on the few losing trades; test some different options; Martingale is a potential choice as it only seems to lose one trade in a row and then win at least the next 3-4 trades. Potential high-impact news filter as whiplash can exceed half of daily ATR(10). Maybe look at the days of the week etc.
It is better not to use other indicators. There are just prices and ranges such as highs and lows. The rest is achieved through trade management.
This is a purely rules-based system.
The list of templates and indicators in Post 1 and the templates will be updated regularly as the methods become more precise.
Use auto-refresh indicators to keep DHR rows updated.
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