The signal comes from the "RailRoad" candlestick pattern breaking a support/resistance level, which typically indicates price will respect that level. I didn't implement any kind of "fuzzy logic" for this strategy, though it would benefit greatly from it.
How consistent is the pattern? Hard to say considering candlestick patterns vary wildly by % change between different securities.
There are many instances where a fixed% simply doesn't catch a winning trade from a "bounce" off a S/R level.
Algo Trading Simplified 👉 PaxProfits.com Forex Trading Coaching 👉 primetimefox.com
Discover the easy way to manage Forex trading accounts. Trusted by traders globally.
Learn consistent currency pair trading from a professional.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
