Forex Pivots Daily Weekly Swing Trading Strategy
Forex Pivots Daily Weekly Swing Trading Strategy;
Pivots, Trend Following Forex System it’s based on pivots daily and pivots weekly.
Role Of Daily Pivots. Daily pivots should be treated as MINOR support and resistance. Minor resistance, during an up trend, and minor support, during a down trend, are more likely to break than hold. Conversely, minor support, during an up trend, and minor resistance, during a down trend, is more likely to hold than break. Therefore, daily pivot levels are best used to identify entry levels and for stop placement. Other important roles of the daily pivot levels are to confirm the strength and direction of the trend.
Role Of Weekly Pivots. Weekly pivots act as INTERMEDIARY support and resistance. Intermediate price moves exist within each major trend and the weekly levels help identify the extremities where the price moves “swing” back in the opposite direction. The initial levels of weekly support and resistance, S1 and R1, are often broken and this helps confirm the direction and strength of the swing in line with the current trend.
Time Frame h1
Markets any: example currency pairs (EUR/USD, GBP/USD, AUD/USD, USD/CHF, NZ/USD, AUD/JPY, GBP/JPY…) Metals (Gold and Silver), Indicies and Stocks.
Rules Pivots, Trend Following Forex System
Trades only in direction of the trend.
We have a Trend up when the price is above the CC direction current time frame and, cc direction higher time frame, we have also the block of the pivots levels below the price .(Buy trades)
We have a Trend down when the price is below the CC direction current time frame and, cc direction higher time frame, we have also the block of the pivots levels above the price . (Sell trades)
We have a flat trend when the price is between CC direction current time frame or cc direction higher and block of the pivots levels. (do not trades).
For more
Exit position at the pivots levels or at the end of the day.
Place initial stop loss, above (for sell), below (for buy) the cc direction higher time
frame .
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 Pivots Daily Weekly Swing Trading Strategy?
- Download Forex Pivots Daily Weekly Swing 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 Pivots Daily Weekly Swing 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”.
