The idea is to open orders during a pull-back on a trend - the larger value RSI defining the trend, and the shorter value defining a possible pull-back.
Back-testing reveals no profit, but the results aren't completely horrible in that it didn't lose too much:
Only won 35% of it's trades, though.
I coded this strategy into the latest code base (available here), and included a trigger (for a buy, look for a bear candle, and open if the indicators agree, and the open of the current bar is above the previous close. Reversed for sell). Take a look at the results:
$313 profit on 15 minute chart, EURUSD from 1-1-2010 to 1-1-2011. Won 72% of it's trades.
This is one of the few robots which performed better on the 15 minute time frame than the 60 minute. The settings are non-optimized.
I had to alter the RSI values from the first version in order for it to trade. It uses RSI(4) and RSI(30).
