Hooks and Ticks | Foreign Exchange EA Download - MT4/MT5 Resources - MetaTrader 5 Resources

Below is another work in progress and therefore experimental. In theory, this is nothing new, just another way of looking at a 4-bar reversal/trend continuation. I've only manually checked GBP/USD for 1 hour. It’s pretty self-explanatory from the first picture. These settings resemble hooks and ticks, hence the title of this thread.

rule:

Buy Setup - Bar 2 forms a lower low and lower high than Bar 1. It doesn't matter whether they are bullish or bearish. Bar 3 has a higher low than bar 2. Its direction doesn't matter either. Bar 4 formed a higher high and higher low than bar 3 and 1, and closed bullishly.

Buy Entry - Buy at the open of bar 5, target price 10, stop loss at the low of bar 4.

Sell ​​Setup - Bar 2 forms a higher low and higher high than Bar 1. It doesn't matter whether they are bullish or bearish. Bar 3 has a lower high than bar 2. Its direction doesn't matter either. Bar 4 had lower highs and lower lows than bars 3 and 1, and closed bearishly.

Sell ​​Entry Point - Sell at the open of bar 5, target price 10, sell stop at the high of bar 4.