Help improve this combined indicators idea

I found some indi here in FF,but i combined 2 "indicators" to created this trading idea.
You can help or post any view or change to make this trading idea better.

Tools
Stodiv 5,3,3
Pivot v3
Enter rules:
Buy when price hit any Pivot v3 line and a green arrow is printed.
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Any ideas to when to take profits and where to place your stoploss.
What other indi could improve this idea?
Thanks

More examples

Hi alicia19, for stop loss you can use the high of the last candle where the indicator printed the arrow, but you can also use your discretion for example, I would use for EURUSD pair 20-30 pips sl and for GBPJPY 40-50 pips sl. For take profit the target is the next support, or resistance line, but you can use some of your own technical analysis and see where the price is heading, usually the price stops at swing bottoms and tops, but this is something you see every day on charts and the real question is, how to manage my position/s right, so I can make the most of the move and cover the costs from stop losses. The most importand thing in forex markets is volume, don't look at small charts just look at the daily volume, what the sentiment of other traders is, where the market is heading (it is following the sentiment and why, if not) and what will be the next big move from fundamental news analysis, where it should take place more on your trading. When there is a big anouncement like a change in Interest Rates of a Country then this is the right time to risk your money, because Interest Rates are moving the market and you can take a bigger piece of the money you are going to risk. I use only one indicator and I don't like overloading the chart, so I don't think any other tool from horizontal lines and trendlines would make any exception, many traders are using moving averages, but they are lagging, so you are going to make late entries, or exits, if you use them. My favorite is the 200 EMA, it is giving a good sense of the market and where it is heading, or when it is going to break sometimes, but don't rely on technicals only.

I think that for short, to place your stop loss using the high of the last candle where the indicator printed the arrow,or at at swing tops is a great idea.
If you wait for a cross of the 200 EMA to enter short,you will miss the top of the move where the turning point started.
thanks.

In my opinion a good way to improve your system is to look into your trading diary and analyze your past trades. How often did you close out to early? What is your reward:risk ratio? Could you improve using a fixed TP?
Look at your winning trades, how many pips price moved against you? What was your SL? Could you improve your r:r by lowering your SL?
Do you take every signal? Could a filter improve your hitrate? Could you improve by trading multiple pairs? ...

I haven't personally tried them, but there is a free simulator you can try here:

https://www.fxblue.com/appstore/39/m...ding-simulator

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You asked me about this close all trades goes in the expert folder.

Thanks redfan

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Near s

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Yes, that’s really true! There have so many free trading indicators in this community! But, I seem for being a successful Forex trader we have to learn properly news analysis! By the way, pivot point is one of the most important technical tool!

I was stopped ou from my eurusd short,price reversed.

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