Discretionary Grid System Forex

Hi all,

Trading for a while now and want to post about my trading just for fun!

So I'm trading a discretionary grid trading system manual in Forex. Rules are very simple.

- on the 1 hours time frame
- Look for an super extended trend in one direction (long candles with no consolidation)
- No pullback's happened yet
- Look if price is entering a support resistance zone
- Open small grid positions at the zone and wait for the pullback 2R

- Optional you can check the RSI for oversold/overbought. But you can see it on the chart already. Preffer clean trading.

Weekly I trade only one trade, will try to post them here also if there is interest

Another example I trade last week 31,

EURCAD 1 H long

In hindsight I started to buy a little too early but still the trend was nice and clean down.
Long candles no pullbacks, rsi oversold. So I decided to open a grid at the first support level.

The second grid buyers stepped in strong but no followtrough, so I decided to close the grid for still a nice profit.

In hindsight I've could bought all the way down and waited for the bigger bounce, but when I was in the trade it's better to manage risk and close it.
Because it can fall way lower and that takes longer to close the grid.

The rules are fairly simple to implement mechanically (systematically).
I believe TradingView uses PineScritp as its programming language.

I don't use TradingView, but I use MT4, and I've implemented a GRID System quite successfully.
https://www.tradingview.com/pine-script-docs/

Be careful of large drawn-downs though; a grid mean-reversion works well if you keep a wider grid, and focus on currency pairs that tend to be "noisy".

Happy trading!

This method is how : https://www.forexfactory.com/thread/...lping-strategy. There it is much more developed.