This system is very simple to use and gets very large moves very early so getting huge pips is very easy.
One thing though it gives some fakeouts as well, especially on lower tf, if anyone can help me reduce the fakeouts much appreciated.
I have attached indicator which plots the moving average of the last 3 pivots on chart.
Download and place pivots indicator in indicator folder.
Open any chart and place indicator.
When bullish candle opens and closes above the indicator, place buy 2 (for m15 or lower, increase for higher tf) pips + spread above bullish candle. Opposite for sell. Do not add spread for sell.
stop loss above/below last high/low.
TP: none or whatever you are comfortable with, exit when trend loses steam.
This system is an early trend catcher, can be used to trade sideways market buy moving to smaller tf.
Can be used to swing trade on h1, h4, daily or higher.
Can be used for intraday from M15 to h4.
Can be used for scalp from m1 to m15.
here is chart showing last possible trades in daily.
friday chart with scalp trades setup in M5 over 180 pips possible in just 3 trades, there were two additional trades I did not mark. If you add those max profit could exceed 250 pips.
So let me know what you think, and any ideas for improvement.
One thing though it gives some fakeouts as well, especially on lower tf, if anyone can help me reduce the fakeouts much appreciated.
I have attached indicator which plots the moving average of the last 3 pivots on chart.
Download and place pivots indicator in indicator folder.
Open any chart and place indicator.
When bullish candle opens and closes above the indicator, place buy 2 (for m15 or lower, increase for higher tf) pips + spread above bullish candle. Opposite for sell. Do not add spread for sell.
stop loss above/below last high/low.
TP: none or whatever you are comfortable with, exit when trend loses steam.
This system is an early trend catcher, can be used to trade sideways market buy moving to smaller tf.
Can be used to swing trade on h1, h4, daily or higher.
Can be used for intraday from M15 to h4.
Can be used for scalp from m1 to m15.
here is chart showing last possible trades in daily.
friday chart with scalp trades setup in M5 over 180 pips possible in just 3 trades, there were two additional trades I did not mark. If you add those max profit could exceed 250 pips.
So let me know what you think, and any ideas for improvement.
Attached File(s)
pivots.ex4
2 KB
|
711 downloads
pivots.mq4
2 KB
|
942 downloads