Forex Level Intraday Support Resistance Trading Strategy
Forex Level Intraday Support Resistance Trading Strategy;
Levels for intraday trading is an method speculative for to entry position at the predeterminated lines. There are three ways for interpretation of this method of trading:
simple, buy and sell at the levels drawen on the chart.
Trend following buy and sell in the direction of the trend.
Trend-Momentum buy and sell with histogram macd- buy – histogram > 0 sell histogram < 0.
Time frame 15 min
Currency pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD, EUR/GBP, GBP/JPY, USD/CHF, EUR/CHF.
You can apply Levels for intraday trading at more charts in same time.
Metatrader 4 indcators setting
Real MACD 24, 48, 12.
FPT TD line or (rainbow indicator).
Trading rules Levels for intraday trading
Place an an buy stop order at the level drawn on the chart.
Protit target 3-4 pips before at the next level.
Stop loss at the previous level.
Filter trend- buy if the price is above the FPT line (or rainbow indicator)
Filter trend-momentum histogram > 0
Place an an sell stop order at the level drawn on the chart.
Protit target 3-4 pips before at the previous level.
Stop loss at the next level.
Filter trend- buy if the price is below the FPT line (or rainbow indicator)
Filter trend-momentum histogram < 0
This method of trading is suitable for martingale money management.
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 Level Intraday Support Resistance Trading Strategy?
- Download Forex Level Intraday Support Resistance 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 Level Intraday Support Resistance 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”.