I found this online. Looks really straightforward. It seems to be based on trading forex but I was wondering if it could be used for anything else as well. What do you think?
https://s3-eu-west-1.amazonaws.com/captaincurrency/The+3+Ducks+Trading+System+e-Book.+Copyrighted+Andy+Perry+3102..pdf
I have no personal experience of this strategy but it is built on very sound principles and I see no reason why it would not perform on instruments other than just forex.
Its principle is firmly based on the traditional consideration of multiple timeframes. It first identifies the main underlying trend direction from the 4H TF and then waits until price is also moving in the same direction on the nearer term 1H TF. Having established that the near term price movement is in line with the longer term underlying trend, it then looks for its entries on the 5min chart in the same direction.
I think the entry and exits are somewhat discretionary and therefore still leaves some room for interpretation and other considerations, e.g .signals on public holidays, friday afternoon, etc.
It would certainly merit trialling on a demo account or with small lot sizes to forward test it.
The downside could be a limited number of trade signals (I'm only guessing here). And weak follow-though on 5 min signals when the 1H chart is turning back towards the 4H at the end of a trend.
Have you studied the e-book? or tried it on currencies?