Overview of The Runner Forex Strategy
In practical, after being tested in a time of three and a half month, the “Runner” gained a profit of total 500 points. The following indicators are required for the chart:
- CCI Indicator: Period 14, Level 100 and (-100)
- Stochastic Oscillator with parameters 8; 3; 3
- Time Timeframe being set at (M15)
If you like this strategy, you might be interested in this Simple Renko Strategy.
Conditions for purchases:
- Pay attention to the first candle after 05:00 GMT. After staying below the -100, the CCI indicator closes the next candle above this level.
- The main line of the Stochastic indicator intersects with the signal line and is higher. And the main line should either be below or just goes above its level of 20.
- If Stochastic has already reached its level of 80, then the deal is no longer considered.
- At the close of this candle is a sign to buy.
- The stop loss is 25 points.
- If the Stochastic indicator reaches its level of 80, then in the future, when the spread is closed, the deal will be closed if the next candle closes with a negative result of -5 points or more.
- Take-profit is equal to the entire trading range of the previous day (the distance from the maximum to the minimum) minus 5 points, but not less than 45 points and not more than 100 points.
- If the range of the previous day is less than 35 points, skip this trading day.
Conditions for sales:
- The time requirement for the signal candle is the same as the purchase condition. The CCI indicator stays below this level at the close of the next candle M15 after staying above 100.
- The main Stochastic line intersects with the signal line and is below it. And the main line of the indicator should either stays above or goes below its level of 80.
- If Stochastic has already reached its level of 20, then the transaction is no longer considered.
- The closing of this candle is a sale transaction.
- The stop-loss safety order is at 25 points.
- If the Stochastic indicator reaches its level of 20, then in the future, when the spread is closed, the deal will be closed if the next candle closes with a negative result of -5 points or more of this value.
- The profit-taking order – similar to conditions for purchase.
- If the range of the previous day was less than 35 points, then skip all signals.
Important rules when applying this strategy:
- Opening one position at a time is a high recommendation.
- If the transaction is not closed as trading day ends, then close it at the current market price manually.
- If at the time of receiving the signal the price has already passed more than ? of the previous day's distance, do not consider this signal.
- After going 25 points in the positive zone, the transaction is transferred to a breakeven.
- Don’t enter the market until the candle of confirmation is totally closed.
- The maximum risk for each transaction shouldn’t be more than 2% of your total balance.
- Provides easy-to-spot indicators for traders.
- Provides a detailed guide to trade.
- Requires good emotion control.
- Takes time to track potential points for ordering.
The “Runner” is an effective technical strategy with quality indicators coming from the beauty of the minimalism. Coming with many advantages, it is totally worth a try on this strategy and find you the best package entering the market. Remember: keep your mind on the ground and right beside your money, as there is no 100% win in the Forex market.