Forex Price Action Candlestick Trading Strategy
Forex Price Action Candlestick Trading Strategy;
Setting for 15 min Time Frame or higher
Currency pairs any.
Indicators:
CPI Candlestick Pattern
Pivot Daily.
The Rules of this trading system based on the Candlestick patterns is very simple.
This is an pure price action trading system.
Sell
Wait the price is below a pivot level after when appears an bearish pattern,
you place an pending order 2 pips below the Bear Pattern. If the price do not breaks the order ,delete order after three bars.
Buy
Wait the price is above a pivot level after when appears an bullish pattern,
you place an pending order 2 pips above the Bullish Pattern. If the price do not breaks the order ,delete order after three bars.
Exit position
Stop loss for sell 5 pips above the pivot level;
Stop loss for buy 5 pips below the pivot level;
Profit Target at the next level pivot or 15 -20 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 Price Action Candlestick Trading Strategy?
- Download Forex Price Action Candlestick 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 Price Action Candlestick 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”.
