Spike Trader Forex expert advisor is based on the idea of spike bars preceding movement in the opposite direction to the spike. This EA was inspired by the trading strategy described in May 2012 issue of Currency Trader magazine.
The spike is defined as a bar that is higher than previous BarsNumber bars, higher than previous bar by PercentageDifference and that closed in the lower ThirdOrHalf part of its length. For bullish signal, everything is inverted. The position is kept open until Hold bars pass or an opposite signal is received. If a new signal in the same direction is received, the position’s timer is reset and no new position is opened.
The back-test of the Spike Trader MetaTrader expert advisor on the period of more than 11 years showed 73.93% profit with 5.22% maximum drawdown.