Forex SRT Support Resistance Trading Strategy
Forex SRT Support Resistance Trading Strategy:
Support and Resistance SRT is a price action strategy.
Time Frame 1 min or higher.
Currency pairs:any.
Renko Chart 5 box size 5 pips or higher.
There are three main elements of the SRT system:
1. SRT indicator
2. 8 Simple Moving Average (SMA)
3. OsMA
SRT Indicator
The SRT indicator is the main indicator in this system. It will continuously
monitor the charts for you and mark the levels of support and resistance
and then plot the most recent bullish and bearish trendlines.
The levels of support will be pinpointed by a blue diamond and then from
there a red dotted line will emerge out to the right until a new level of
support is found.
Buy
1. Price closes above blue level of resistance.
2. Price has closed above the 8 SMA.
3. OsMA is above the red 0 line.
4. Enter long position when all of the above criteria are met.
5. Stop Loss goes few pips below the 8 SMA of the entry candle.
6. Take Profit is set to 1:1. (If stop loss is 20 pips, profit target will then
also be 20 pips).
7. Manage the trade by moving your stop loss along the 8 SMA for each
new candle that opens. (I generally only begin to move my stop loss
when a candle closes higher than my entry price.)
Sell:
1. Price closes below red level of support.
2. Price has closed below the 8 SMA.
3. OsMA is below the red 0 line.
4. Enter short position when all of the above criteria are met.
5. Stop Loss goes few pips above the 8 SMA of the entry candle.
6. Take Profit is set to 1:1 (If stop loss is 20 pips, profit target will then
also be 20 pips).
7. Manage the trade by moving your stop loss along the 8 SMA for each
new candle that opens. (I generally only begin to move my stop loss
when a candle closes lower than my entry price.)
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 SRT Support Resistance Trading Strategy?
- Download Forex SRT 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 SRT 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”.
Download Free Forex SRT Support Resistance Trading Strategy
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