Forex Pin Bar PA Pattern Trading Strategy
Forex Pin Bar PA Pattern Trading Strategy:
Pin Bar trading price action is an example how to trade with Pin bar in this case filtered by Value chart indicator. The pin bar trading is one the best method of price action.
This system is based on overbought and oversold.
Time frame 5 min or higher.
Financial Markets: any.
For intraday trading do not trading before the economic news.
This trading system is also good for trading with binary options high/low.
Expiry time: 3 candles.
Pin Bar indicators,
Bands (20, 2), optional.
Value chart (ob level 6- os level -8)
Trading rules Pin bar filtered by Value Chart
When the appears the buy alert of the Pin Bar if in the same time the Value Chart indicator is in OS -8, place a buy pending order 1 pips above the high of the pin bar candle.
When the appears the sell alert of the Pin Bar if in the same time the Value Chart indicator is in OB 8, place a sell pending order 1 pips below the low of the pin bar candle.
The best target is ratio 1.25 stop loss or the middle band.
Stop loss 2 pips below/above the bands or 1 pips above/below the Pin Bar candle.
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 Pin Bar PA Pattern Trading Strategy?
- Download Forex Pin Bar PA Pattern 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 Pin Bar PA Pattern 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”.