For this example I adapted the strategy to EUR USD main forex pair.
Its components are:
Rules for entry
For long: if current high is bigger than previous high and current is smaller than previous low and is positive, close of the candle is above and we have a bull candle.
For short: if current high is smaller than previous high and current is bigger than previous low and is negative, close of the candle is below and we have a bear candle.
Rules for exit
We exit when we have a reverse condition
We exit in case we hit the tp/sl based on % movement of the price.
If you have any questions, let me know !
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
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