Quicker and Dirtier EOD - MT4/MT5 Resources

You know I always have system ideas, and you know I love sharing them. This is another end-of-day system.

Step 1 - Daily chart only - no indicators.

Step 2 - The body of the previous candle must be at least 75% of ATR(20). Attached is ATR's independent work.

Step 3 - Perform a Fibonacci study of the candle from the high to the low of the body of the candle, with the level at 38.2 and the extension line at 38.2, so that the extension line extends below the low of the falling candle or above the high of the high candle (screen that follows).

Step 4 - If the price retraces to the 38.2% Fib level, place a pending buy order at the opening price of the current candle.

Step 5 - Set stop loss at 38.2% fib level.

Step 6 - Set Take Profit at 38.2% Fib Extension.

Step 7 - Wait.

Step 8 - If the price retracements exceed the 75% retracement level, cancel the order. If the order is not hit at the end of the current candle, the order is closed. If the order is hit but remains open at the end of the day, the order is closed.

Step 9 - Repeat the next day.

I have manually backtested this using a trading simulator to be as accurate as possible, but I will probably get an EA coded to fully test it on other timeframes.

Screenshot below.

Attached below is a dashboard indicator that tracks each currency pair, as well as an expert advisor who trades exactly the strategy listed above. Many thanks to FerruFx for the better coding.