47# Set and Forget: 10 pips a day
Set and Forget: Price Action Trading System
Submit by Joy22 30/04/2013
Currency pairs: any.
This is a Daily Trading System Set and Forget. Price Action Method.
Open 4 Hours chart at 00:00 and attach these indicators:
Trade Day,
Indicator Trade day shows maximum and minimum prices for the day and sign the name of the trading days of the week.Indicator Settings:
_color2 = Gainsboro; - color lines
limit = 30 - number of daily bars displayed
Sho_bars = true; - skip the line daily bars
Gann square sq9 indicator: setting andle up 25, angle down 25.
Long Entry
If the last bar of the day close above the Gainsboro line place a pendig order on the above next resistance of the Gann square indicator.
Short Entry
If the last bar of the day close below the Gainsboro line place a pendig order on the below next support of the Gann Square indicator.
Stop loss 2 pips below or above the last 4 hor bar of the previous day.
Profit target 10 pips.
set and forget 10 pips a day
Share your opinion, can help everyone to understand the forex strategy.
Set and Forget: Price Action Trading System
Frederic (Wednesday, 02 December 2015 18:00)
The source code would be great, cause impossible to attach to chart (probably because of MT4 version...)
Uthere (Monday, 17 August 2015 20:05)
Dear Matthew,
Can you please give me more details on when should I place long/short orders ? (I could not understand the chart)
Thank you.
Matthew (Monday, 10 August 2015 11:59)
Trying to understand this strategy. I have not had a losing trade yet but, I am not sure if I am doing this correctly lol! I understand the picture about 80% but if someone could fully explain. feel like I am just getting lucky by putting the pending order in on the side i think is right. Any help would be appreciated.