OopsUTurn

When prices move strongly and then reverse the direction you can make the best trades.

OopsUTurn is a trading system that exploits this psychology (as the Oops pattern by Larry Williams theaches) and applies it to the everyday market, NOT ON GAPS.

The EA works only with PRICE and TIME, with STOP orders.

No indicators, no grid, no martingale or others dangerous or false methods, no overfitting.

 

Trades are closed with Take Profit, Stop Loss or after pre-established time.

It can run with 2 method for the volume:

-fixed lots

-fixed fracional (account balance)

 

The system is designed to run only on H1 timeframe.

Here you can view results of the strategy in a portfolio https://www.mql5.com/en/signals/650507

The Screenshots are backtests with volume fixed 1 Lot and with risk 5% to show performance and stability of the system, but I suggest not to overdo the risk.

Recommended steps:

1.   Open currency pair graph (timeframe H1) and attach the EA

2.   Charge set file of the correct currency pair (or search other setting)

3.   Set GMT Offset (difference, in hours, between your local server and GMT London)

4.   Set unique Magic Number 

5.   Set Money management and level risk that you prefer