72# Support and Resistence with Ribbon
Levels trend intraday
Ribbon with momentum
Submit Timmy
Support and Resistance whit Ribbon is an idea for intraday trading the purpose of this trading system is find the short trend with levels, ribbon and momentum. The signals that generate this system are based on complex filter systems, sometimes the senale may be late, but generally it has a good timing of entry into the market.
In other words, this system looks for the intraday market rhythms.
Time frame 15 min or 30 min.
Currency pairs Malors and Indicies.
Metatrader 4 indicators for build this template
Support and resistance proffesskional tool.
MA ribbon 55 21 moving averages.
Dibs (optional).
Exponential moving average 5 period, close.
Aweso0me oscillator defult setting.
Rules Support and Resistance with Ribbon
Buy
Price above the level of Support.
Ribbon blue bar.
Awesome green bar.
Price above the exponential moving averages 5 period, close.
Profit Target 15-25 pips or at next level of SR.
Stop loss 20-25 pips.
Sell
Price below the level of Support.
Ribbon red bar.
Awesome red bar.
Price below the exponential moving averages 5 period, close.
Profit Target 15-25 pips or at next level of SR.
Stop loss 20-25 pips.
In the pictures Support and Resistence with Ribbon in action.
Share your opinion, can help everyone to understand the forex strategy.
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