Recently i came across another strategy which uses HH and LL . The author claimed it to be profitable. Can Brian and others please look into this and give some feedback. Possibly an EA will help.
The strategy ........
If 10SMA is > 40 SMA on the thursday's closing price then BUYSTOP before the Friday market closing , 1 pip above the Highest High of the last 10 days.
If 10SMA is < 40 SMA on the thursday's closing price then SELLSTOP before the Friday market closing , 1 pip below the lowest low of the last 8 days.
on the opening of the market if any trade is opened then close it and delete all trades not opened. It tries to avail gaps.
Seems interesting. What time frame does it use?
Because I think crossing of MA on smaller time frame could be different with the larger time frame.