Forex Strategies: Pip Generator
Good day, fellow trader. In today's forex video we will get acquainted with the Pip Generator strategy, intended for trading on the H1 and H4 timeframes (although enthusiasts also use it on M15). The system is easy, arrows are available (so loved by many), however we will be taking far from all signals. For more details, see the video.
Rules of the Pip Generator Strategy
We take only the signals that appeared during the European session.
Rules for buys:
Entry: open a position when an upward arrow appears, if Master Probability is greater than or equal to 20. We use 2 orders to enter the position.
Stop-loss: for the stop order of one order, we use the last local minimum that stands out on the chart. We place the stop 10-20 points below this minimum. We set the stop-loss of the second order equal to the current ATR value.
Take-profit: we set the take profit of the first order at the level of the nearest local maximum, the take profit of the second order is equal to the ATR value at the moment the position is opened, multiplied by 1.5 or 2.
Exit from the position: we close positions without waiting for the take-profit or stop-loss to trigger if 1) a downward arrow appears; 2) the Master probability value is equal to or less than zero.
Rules for sells:
Entry: we enter sells with 2 orders if there is a downward arrow + the Master Probability value is equal to or less than -20.
Stop-loss: we place the stop of the first order slightly above (by 10-20 points) the last local maximum, we set the stop order of the second order equal to the current ATR value.
Take-profit: we place the take profit of the first order at the level of the last significant local minimum, and the take-profit of the other order is equal to the ATR value when the position is opened, multiplied by 1.5 or 2 (depending on volatility in the market).
Exit from the position: we close positions without waiting for the take-profit or stop-loss to trigger if 1) an upward arrow appears; 2) the Master probability value is equal to or greater than zero.
The rules and trade examples are discussed in more detail in the video.
Download the Pip Generator Strategy Files
Important! Nuances of installation in new builds of Metatrader 4
Respectfully, Pavel TradeLikeaPro.ru
In today's forex video, we will get acquainted with the Pip Generator strategy for trading on the H1 and H4 timeframes.