Awhile back I came across an EA and for the life of me I cant remember the name nor a similar EA that most of the group knew.
You take a position (e.g. Long) and if it goes down 40 pips, you pick up a short. If it keeps heading south, great. If not and returns 40 pips up, you pick up a long and continue until it breaks out of that 40 pip channel.
I think a user by the name of Fukinagashi made a post in reference to it.
If anyone knows of it or one similar, please let me know. I want to do some testing.
Thanks for your help,
Maybe it was BAT EA?
Anyways, fukinagashi is posting on forexfactory forum, he posted several expert advisors there, maybe you should check his profile there and check all threads started by him or all of his posts. It is a hell of a job, but If you are eager to find that EA, this is a way.
it sounds like dynamic breakout method to me. good luck on your hunting...
Thanks to all who responded! It gives me a direction to search. Take care,
Did you ever find the EA you were seeking? I've discussed this with some mathematicians and the logic seems infallible. Please let us know or send me an email if you have gathered more information on this possibility.