Strategy Myth-Busting #23 - 2xEMA+DPO- [MYN]

#23 on the Myth-Busting bench, we are automating the "Best Funded Account Trading Strategy (Pass EVERY Challenge!)" strategy from "Trade with Pat" who claims this strategy will pass every trading challenge out there.

This strategy uses 3 open source indicators. 2 EMA's. The first one (Slow) is set to a length of 40 and a fast EMA which is set to 12. This strategy uses the crossover of the fast( 12) EMA over the Slow EMA ( 40 ) as the primary means to enter a long position. The opposite when the fast EMA crosses under the slow EMA as a means to indicate a short position. This strategy uses the DPO (Detrended Price Oscillaor) from the Uptrend Price DPO indicator in the same way we would traditionally use a stochastic or moving average convergence/divergence indicator like the MACD . Basically, the DPO helps evaluate and estimate the length of the price cycle from peak to peek or through to trough and in this strategy confirms entry of a long / short condition complimenting the EMA crossover/crossunders.

And as always, If you know of or have a strategy you want to see myth-busted or just have an idea for one, please feel free to message me.

This strategy uses a combination of 2 open-source public indicators:
EMA x2 ( 40 and 12)
Untrend Price DPO indicator by jTradeuh

Trading Rules
1 or 4 hour candles
Stop loss at previous highest-high (Short) and lowest-low (Long).
Take Profit 2 - 2.5 the risk

Strategy Template includes open source code from the following:

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