I put +/- 10 white lines and +/- 20 yellow lines with the indi on a chart and got this on a 1H. I show euro session in the box.
1. Put pending buy at +10 and Pending sell at -10
2. move SL up at +5 to 10 pips below
3. SL to BE at +10 pips and take half profit.
4. Let the rest ride and sometimes get the big hitter.
This seems to allow you to make more pips than you lose. Seems like once price has committed to a direction after 10 pips it will stay that way except on tight range days. Those days you take some losses and move on. Just eye-balling it you would do well except on dead days and then you would take some losses. If you can get past the 5 pip mark or +15 from daily open and move your SL to +5 pips from daily open you would have very tight SL of -5 on bad days. Play 12 biggest movers and you have something going for you.
I guess an EA that would automatically set pending +10 and -10 from daily open and then MPTM settings of SL 20 moved up to -5 at +5 and BE and take 1/2 profit at +10 would work. You would get lots of small winners and losers which would be over shadowed when you caught the good move of the day. Here is a pic of gbp/aud
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