This strategy creates long and short signals based on a 20 crossing condition. Works well in 4H timeframes or higher. Accuracy is around 60%.
- When a green candle crosses above 20
- Followed by another green candle which closes above the previous candle high
- When a red candle crosses below 20
- Followed by another red candle which closes below the previous candle low
Stop loss at ATR + 5
Take Profit at 1.3R
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.
For a start, you can use this
Use 4H timeframe
When it gives signal, place trade with both take profit and stop loss at 25 pips