Here's a quick update of the Renko XARD basic that I posted earlier. I removed the semafor indicator because it's not useful on a smoothed chart. Renko bricks allowed me to place a pending buy order when the RSI(oma) began to tick blue (bricks always print at the same levels over time), and RSI(oma) seems to be the slowest indicator so it ultimately determines entries. After the trade executed, I placed a stop at the Magenta dots of the Support_and_Resistance indicator (below) from MQL5.com. It appears to be useful as a manual dynamic trailing stop. Use Lime dots as stops for shorts.
Again, the screenshot is a demo test. Actual live swaps on the Guppy (GBPJPY) are great for longs and nasty for shorts. If you catch a good run, the short swap can be beat. Spread is generally a bit high because Guppy volatility is stellar.
The Support_and_Resistance indicator is really just fractals extended forward until a new fractal of the same direction prints. Veteran forex warhorses will likely recognize it as "support_and_resitance_Barry" for MT4.
At least anecdotally/visually, the winners look like they will far outrun the losers.
By the way, this is not an intraday strategy. Current H4 ATR of the Guppy is likely about 76 pips or so, and these are 89 pip bricks so...
“[A]s we know, there are known knowns—there are things we know we know. We also know there are known unknowns—that is to say we know there are some things we do not know. But there are also unknown unknowns—the ones we don’t know we don’t know.”—Donald Rumsfeld, 2002
Gold Strategy in Action – Trade Example Here’s 