Eursignalfromjpy. Trading is going on eur/usd pair. But signal for
trade on asian session taken from jpy/usd pair, instead eur/usd as
first is a bit active on this session. Idea that motion in major pairs
will be caused by motion in dollar.
Signal taken via RSI indicator with very small settings, it just
period 6 on 5 minute frame. Such settings will cause immediately
opening of order often, almost each time. As opening of trade is time
of opening asian session, and market wakes up after night rollover.
RSI is popular indicator as MACD, CCI, ATR and few others. All
indicators are transforming prices of chart in new perception,
sometimes using also volume ticks. So my strategy should have same
result with other indicators, if its taken small settings of them.
With settings in order on stop loss - 70 points and maximal lot (
until 15 lots ), it
has negative trade around 2 times per month, but its not rare when
month is going without these losses. Such month should has great
drawdown rating maybe near 50 points. With settings in order on take
profit - 4 points, this small distance should help with finishing
trade even in day with low volatility like bank holidays days. This
modest take profit should be a bit increase if strategy should pretend
on first places in contest.