Overnight our strategy has presented a long trade on EURJPY
We are working the H1 time frame here with the script in use set to a take profit target off 95 pips.
Now I don't recommend jumping on random TradingView ideas as in my opinion that wouldn't be a consistent way to trade and there is no plan implemented.
Our strategy is a trend following strategy, can be used on any instrument and time frame.
The strategy works within your own Tradingview and can be set to your style of trading.
When trades present on the chart with all the relevant data also printed, we simply enter those trades and stick too the plan.
No lines, no S&R - no analysis, all I have to do is follow it. This manner of trading also helps with emotions.
The built in strategy tester allows our traders to be clear on how the settings they have entered into the strategy have performed on the pair and time frame they desire to trade. No one can predict the future but the historic data gives us all great confidence in entering the markets knowing how previous trades have played out.
The data for the pair in question and the method in which it's being traded can be found at the foot of this idea.
As mentioned we are working EJ here to the H1 time frame. Our risk reward is just shy of 1:5. Data is back tested from January 2017 to today.
The data is based on £500 starting capital and 1% risked per trade. That data shows us as traders that trading the pair in this manner has produced 469% ROI!!
That is 580 trades worth of date with 31% of trades being profitable. This level of data adds so much value and confidence to our trading plan.
Feel free to also press the sub menu on the window below and you will see our strategy also logs every trade which will confirm and support all open and closed positions.
A lot of traders journal results as good working practice. Our strategy does all this automatically.
For any more information on the strategy in use please feel free to drop me a message.