Forex Fibo Pivot Points Trading Strategy
Forex Fibo Pivot Points Trading Strategy:
The forex indicator is used on timeframe to H4 main currency pair (All also Metals and Oil).
The main difference of this forex strategy from the strategy on the Pivot levels is that the orders open not according to the breakdown of R1, S1 (61.8%) levels and close according to the next levels.
Fibo channel 3
When the first candle starts forming at 00.00, the forex indicator draws levels on the following day.
If the candle starts (pay your attention on the beginning of the candle formation) forming above PivotLine, we open Buy position if previous bar of real MACD is green, put stop loss at level 61.8%(S1) below PivotLine, we put Take Profit at level 61.8%(R1) or (R2) above PivotLine.
If the candle starts (pay your attention on the beginning of the candle formation) forming below PivotLine, we open Sell position if previous bar of real Macd is red, put stop loss at level 61.8% (R1) above PivotLine, we put Take Profit at level 61.8%(S1) or (S2) bellow PivotLine.
If the candle opening coincides with PivotLine, we do not open the order.
If the candle opening is above the pivot line and the previous bar of the real MACD is red we do not open order.
If the candle opening is below the pivot line and the previous bar of the real MACD is green we do not open order.
The unique profit forex indicator Fibochannel for beginners and pro traders! Relying on its signals we will have a profit about 100-150% from depot per month.
The strategy forex system is easy-to-use. You do not need to know some nuance of the technical analysis to use this trade strategy. It makes the indicator more attractive for the forex beginners who wants to know Forex.
The indicator gives the forex signal for the opening of the deal once a day strictly at the same time. The only thing you should do is to open the deal at the given direction.
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
How to install Forex Fibo Pivot Points Trading Strategy?
- Download Forex Fibo Pivot Points Trading Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Load indicator on your chart
How to uninstall Forex Fibo Pivot Points Trading Strategy?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.