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Trend Forex Pivot Points Strategy
This system works on 30 minute or 1 hour timeframe and applicable to any currency pairs.
Forex Indicators:
- Daily Pivot points indicator;
- 50 exponential moving average (50 EMA);
- 200 exponential moving average (200 EMA);
- MACD indicator (12, 26, 9)
Rules:
- Trades only in trend.
- If EMA 50 is greater than EMA 200, then the trend in going upward.
- If EMA 50 is less than EMA 200, then the trend is going downward.
BUY ENTRY:
- Trend is up.
- The histogram MACD is above of the moving average (red) and the candle close above the Pivot Points
- Levels indicator.
- Open long at open next bar.
SELL ENTRY:
- Trend is down.
- The histogram MACD is below of the moving average (red) and the candle close below the Pivot Points
- Levels indicator.
- Open short at open next bar.
Exit position options:
- for buy when MACD is less than 0 or with predetermined profit target;
- for sell when MACD is greater than 0 or with predetermined profit target
- Exit also at the next pivot points levels.
- Place initial stop loss on the previous swing after 20 pips in gain move stop loss at the levels of entry point.
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