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Three Bar Scalp Method w Probability

author EAcpu | 3 reads | 0 comments |
I quickly whipped up a system. I got some ideas from various places on the forum and did some calculations and it looks really promising.

So set.

RSI(8)
ATR(14)

Go Long: Enter when the last open had a higher close than the previous bar's close, and the open and close were at the same level. RSI(8) is above 50.
Short-term exit: end of day.
SL: 25% of ATR(14)

Shorting: Entering a trade on an open with a lower closing price than the previous bar's closing price, and with the opening and closing prices at the same level. RSI(8) is below 50.
Short-term exit: end of day.
SL: 25% of ATR(14)

I included some calculations in Excel, but it doesn't account for sawing.

reason.
Looking at the past 7 years, the probability of Gu's third bar (trading day) closing higher is 62.77%, and the probability of the third bar closing lower is 60.53%.

Any comments?

ps: This post will probably disappear soon, I'm just curious about your opinion.
ps: English is not my native language so sorry for the mistakes

EDIT: The zip file contains an Excel sheet containing the calculation results.

EDIT: Clarification: We open the third bar when bar 2 closes above bar 1 and the RSI(8) is above 50. Short is the opposite.

edit:

Quote Niu Shi
Method changes:

Pull to breakeven SL when 25% of ATR(14) is in gain.
Use 3 units.
Exit unit 1 when 50% of ATR(14) is reached.
At the end of the day, if there is no profit, exit unit 2 until BE or SL is reached.
If the opening signal on the next candle is positive, keep unit 3 and move the stop to breakeven and start again with an additional 3 units.

Greetings Brock
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3bar.bmp2bar_rsi.gifeXP.jpg
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