10 pips EURUSD - MetaTrader 5 Expert | MT5 EA Download - MetaTrader 5 Resources
The author of the idea — Roman Yushkin , the author of the MQL5 code — Balabashka Kon .
There are countless variations of the "EUR/USD 10 pips" Forex strategy, and along with the session strategy, it is also used by many professional traders. Therefore, good results can be obtained when combined with proper risk management.
The essence of the "EUR/USD 10 pips" strategy is as follows:
The previous day's high and low breakout serves as the basis for the strategy. Most traders believe that if there is a breakout of the previous day's high, the price will rise and vice versa.
Based on this, these two extreme values are often used as stop loss levels.
Therefore, if the previous day's low is broken, the stop loss will be triggered and therefore the price action will continue for a certain number of pips. Therefore, the same rule applies to high positions, but in the opposite direction.
Knowing these facts, we will profit by opening a buy trade on a breakout of the previous day's high and a sell trade on a breakout of the previous day's low.
But because other traders use the same 2 points as support and resistance, the price doesn't always move in the direction of the breakout of the previous day's high and low. Therefore, a fixed stop loss value needs to be used.
Recommended currency pair: EURUSD
The validity period of the pending order is from 00:00 GMT to 00:00 GMT the next day.
1. Place 2 pending orders at 00.00 GMT - a buy order (above the previous day's high + spread) and a sell order (below the previous day's low - a spread).
2. Set Take Profit — 250 pips.
3. Safe stop loss - 50 pips.
4. Important feature: only the first intersection of the highest or lowest price on the trading day is considered (i.e., if the pending order is closed via stop loss or take profit, do not place another order that day)
The recommended risk is 2-5% of your deposit per trade.
Attachment download
📎 10_pips_eurusd.mq5 (20.26 KB)
Source: MQL5 #17178
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •