The "Forex Driver" Strategy - Chasing Profit
The topic of today's video is the "Forex Driver" strategy. It is intended for trading on Renko charts, which provide a clearer picture of what is happening in the market, cleaned of noise. And in combination with indicators specially developed specifically for Renko charts, we get a powerful system that gives a large percentage of profitable trades.
Strategy Characteristics
Platform: Metatrader 4
Currency pairs: any trending ones
Timeframe: does not matter
Working time: European session and the beginning of the American session
Recommended broker: Alpari
For the trading system to work correctly, DO NOT CLOSE the M1 chart with the expert advisor.
System Rules
Buys
- Trendlines indicator is blue
- There is a green diamond from FR Signals
- The FR Trend indicator changed to light blue
- All FR Scanner readings show an upward trend
Sells
- Trendlines indicator is red
- There is an orange diamond from FR Signals
- The FR Trend indicator changed to orange
- All FR Scanner readings show a downward trend
Entry and exit from the position
- We enter with pending orders slightly above/below the indicator lines: Trendlines/Breakout/Retracement/Support&Resistance.
- We exit after the appearance of an FR Signals indicator dot opposite to our position, in combination with a change in the FR Trend indicator. Only AFTER THE CANDLE CLOSE on which the indicator changed.
Stop-Loss
- We place the stop-loss slightly above/below the nearest line of one of the indicators: Trendlines/Breakout/Retracement/Sup&Res
- Or at 50 points, if it is not possible to use the lines of the above indicators
Reference Material
- Instructions for installing strategies
- How to trade with pending orders
Download the files of the "Forex Driver" strategy
Important! Nuances of installation in new Metatrader 4 builds
With respect, Pavel
TradeLikeaPro.ru
The topic of today's video is the "Forex Driver" strategy for trading on Renko charts, which in combination with specially developed indicators becomes a powerful system with a high percentage of profitable trades.