FX PIRATE V1
Buy Rule:
- Buy when the lower MACD (12,26,9 settings) is above the 0.0 line.
- Wait for the upper MACD (3,5,3 settings) to cross below and then above the 0.0 line.
- Only execute a buy trade if the close is in the upper quarter of the candle.
- Place a stop-loss a few pips below the low of the buy candle.
Sell Rule:
- Sell when the lower MACD is below the 0.0 line.
- Wait for the upper MACD to cross above and then below the 0.0 line.
- Only execute a sell trade if the close is in the lower quarter of the candle.
- Place a stop-loss a few pips above the high of the sell candle.
Take-profit depends on the trader's risk tolerance, typically aiming for 1:1, 2:1, or 3:1 ratios relative to the stop-loss.