白眉交易系统 (The White Eyebrow Trading System)

For want of a better name, I've dubbed this method 'The White Eyebrow'.

It's certainly not anything new, I'm sure variations of it have been posted heaps of time before.

I have yet to trade this live but will forward test it next week as time permits. I don't know how viable it is short term or long term but looks alright with manual backtesting.

I've only looked at EUR/USD but other pairs could perhaps be used.

This method came about from looking at price patterns and PSAR. on the 15minute timeframe, while trying to keep things nice and simple.

Here are the rules:

1. Open up a 15min chart of EUR/USD.
2. Draw a vertical line at 8.00-8.15am GMT bar. (my charts are GMT+1 so I draw the line at the 9.00am bar)
3. Place PSAR with Step 0.02 and Maximum 0.2
4. Identify the POTENTIAL Trigger Bar / look for a trend change. For a new long trend and an opportunity to buy, PSAR dots have to switch from being ABOVE price to BELOW price.
5. IF the Trigger Bar has closed bullish AND the previous bars - Bar 1 and Bar 2 are also bullish, then enter on a break of the trigger bar.
6. Stop = 20 pips, Target =20 pips.
7. Trade maximum 2 times a day. If the first trade is a loss, no more trading. Only enter a second trade if the first one was profitable.
8. If the Trigger Bar has a very long range, be wary of using it

charts to follow