I have been testing indicators and strategies for a while trying to come up with profitable ways to trade. But I cant seen to beat a winning rate of about 50% on a 1:1 risk reward.
Winning rate is 50% and risk reward ratio for your entry consideration is 1:1, it is bad for success rate and in risk management it is bad, very risky too.
To manage risk better, the ratio of risk: reward should be 1:3. If you see from your entry to cut loss price, and from entry to take profit price is less than 1: 3, don't open any position from that entry.
Risk to lose your money, even by cut loss, is bigger than chance to get profit.