I haven't traded this however.
My egy would be to create this, and hopefully find a simple yet profitable system from the making

The indiors
About the 4hr chart.
We would want possess the
- 30 and 120 SMA
- RSI 14
motives for using 30 and 120 SMA:
30 represents the weekly tendency and 120 represents the monthly trend.

The Setup
- We want to be about the longside as long as price is trading over 120 SMA
- Buy when RSI sheds over 15% points from the previous famous peak.

I didn't say any use for 30 SMA, but fact is on a strong trend, I normally find value trades around these lines also (for system sake, lets make sure it lines up with the rsi or clown, just eliminate it). . .habits of a trader I guess.

STOPS
Before we can decide on the TP, I want to hear your perspectives on preparing the stops.
Personally I am thinking along the lines of ATR(mt4 default) x 1.5 or 2 stop guess. Any comments?

Take Profit
Multiple TP or solitary? Hmmmm

Lets say we now use GBPUSD, that has an ATR(14) of 60pips. Im planning a modest 1.5:1 win ratio, for this to happen, employing the various stop models,

Using ATR(14) x 2 stop egy
My ceases would be a 120pip stop.
Which means I would have to harvest at least 180pips per commerce.
GBP has an avg daily range of 120pips, this trade would likely last over a day.

Using ATR(14) x 1.75 stop egy
My ceases would be a 105pip stop.
Which means I would have to harvest at least 158pips per commerce.
So far 1.75 seems like the ideal esp for trading the gbp

Using ATR(14) x 1.5 stop egy
My ceases would be a 90pip stop.
Which means I would have to harvest at least 135pips per commerce.
I have a feeling that I'll be whipsawed quite badly in this .

Well the entire plan does seem extremely simple eh? Oh well, I was not a fan of complied stuff, guess my mind's only aint great enough to digest these.

So off we visit the backtesting laboratory to see which works best. Opinions and ideas appreciated. Hopefully I can muster the opportunity to come up with some correct backtest results. If else, it would appear to me this thread is doomed to lurch in dust. Backtesting pair....GBPUSD. cheers

regards
jest