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I trade totally different than you are proposing. I create automated strategies, and just let them trade. Each one has a simple, but proven edge - I have validated each strategy thru a multi step process I use, and each strategy has a long term positive expectancy.
For example, if the close is greater than the close five bars ago, that might be a good edge to initiate a trade (of course, you have to test it, with exits, etc).
Testing is the key, eliminating guesswork where you can.