thank you afin for replying. would you like to backtest this strategy for one month.it will take only little time. it is working great based on first candle ltp on 30minutes time frame.
I have been guided by some people I consider as genuine experts in the markets to test any intsrument you would want to trade for a minimum of 6 to 12 months on atleast 3 different time frames to gain a better understanding of different market conditions - range bound to trending. These also would account for any freak incidents like brexit/ Trump election or other major events etc etc.
For crude oil, remember to also account for inventory day. It would be best to sit on the sidelines for 1 hour until the inventory data is factored in to minimize your chances of whiplashes.
From my personal observations, 30 minutes is too small a timeframe for an instrument such as crude oil because it is traded for more than 12 hours in a day. I would consider the 1 hour time frame for intraday trading and 4 hours TF for swing trading.