This is part of a new series we are calling "Strategy Myth-Busting" where we take open public manual trading strategies and automate them. The goal is to not only validate the authenticity of the claims but to provide an automated version for traders who wish to trade autonomously. Our 10th one we are automating is the " 75% Win Rate High Profit Inside Bar...
This strategy analyzes the three and four-bar play which is when price action has a wide igniting bar that has a full body, then one or two narrow bars which have a relatively equal high for long plays and relatively equal low for short plays, then a continuation bar. You should not take plays that will encounter resistance. The stop loss is placed for long plays...
The strategy contained in this post comes courtesy of babypips (.com), an excellent resource for all thing forex related. If you are new to trading, the site is definitely worth checking out! Code commentary and an introduction to Inside Bars are available for this post on the Backtest-Rookies (.com) website. Note: If you are interested in custom development...