Forex Pin Bar Pattern Trading Strategy
Forex Pin Bar Pattern Trading Strategy:
Time Frame 4H or Higher, Best Time Frame Weekly.
Currency Pairs: all.
for 4H Time Frame: Weekly pivot TZ
for Daily and Weekly KG Supporte and Resistance
Once we have found a nice pin bar we have to see if the price is also close or touching one of the following.
• Support level
• Resistance level
If you have been keeping an eye on the pairs for more than a week then you will already have marked out all the possible support and resistance levels and have a good idea what’s going on long before a entry is formed.
Let’s look at a couple of charts using support and resistance along with pin bars
The Entry is:
Buy entry order 50% Pin bar;
Sell entry order 50% Pin bar.
Stop loss 7 pips above or below pin bar.
Target Profit Ratio 1/5, if stop loss is 50 pips profit target is 75 pips.
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 Pattern Trading Strategy?
- Download Forex Pin Bar 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 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”.