"Providets" Strategy - See the Market Through Different Eyes
"I want more trades!", "I want to enter the market more often!" - you have probably caught such thoughts in your own head. And although many people intellectually understand that for success in Forex you need to choose only high-quality setups, your hand still reaches out to open an extra dozen orders... How do you fight this? The answer is simple: you need to look for quality trades, but across a larger number of instruments. Then there will be many trades and they will not be far-fetched. The profitable "Providets" forex strategy will help us with this.
Characteristics of the "Providets" Trading System
Platform: Metatrader 4
Currency pairs: any
Timeframe: optional
Trading time: around the clock; for intraday trading - the London session and the beginning of the American one
Recommended dealing centers: Alpari, Roboforex
Installing the Strategy in MT4
The strategy files (see the bottom of the review) are installed into the terminal according to the standard instructions. Nothing complicated.
Entry Rules
We enter the market when an arrow appears on the main chart (the Providec indicator), provided that it matches the current trend readings on the Providec_Trend indicator (at the bottom of the chart). That is, if both indicators show an upward direction, we buy; if both show downward, we sell.
Important!
We enter only when there is a fresh trend change on the Providec_Trend indicator. Only on the first arrow. If there was no trend change and the arrow appeared again, do not enter. An exception can only be if we did not enter on the first arrow because of a large stop loss (see below).
Stop Loss and Take Profit
Set the stop loss slightly below / slightly above the nearest local extremum. If the stop visually turns out to be large - do not enter.
The take profit equals the stop loss value multiplied by 2. In rare cases, when the stop loss is visually very small, you can multiply by 3.
Additionally
- Enter only after the candle with the arrow has closed. At the open of the next bar.
- When trading intraday (timeframes below H1), trade only during the European and American sessions. Once the American session is over, close all trades regardless of the current profit / loss.
- For those who have trouble identifying local lows / highs, the strategy archive includes the SR_Dots indicator, which marks these levels on the chart. However, it is sometimes mistaken, so stay attentive.
Recommended Risk Level
It is not advisable to risk more than 1-2 % of the deposit in a single trade. It is convenient to calculate the lot size using a special calculator.
Conclusion
The "Providets" trading strategy has an extremely interesting feature, namely a strong selectivity with regard to trades. At the same time, it is universal and suitable for any currency pair and any timeframe. That is, you can take the very best trades and still have quite a few of them, since you can trade a large number of instruments. It is also interesting that the system will suit any timeframe that you prefer to use.
Download the files for the Providets forex strategy
Important! Nuances of installation in new Metatrader 4 builds
Respectfully, Pavel
TradeLikeaPro.ru
A profitable Forex strategy that helps you find more high-quality trades across a larger number of instruments.