PowerTrading/The River (PowerTrading/The River) - MT4/MT5 resources

PowerTrading/river

Modify the rules.

Power Trading is a method I developed to combine the fundamental elements of trading with the knowledge I believe you need to become a professional or full-time trader. I think it's fair to say that I've been influenced by many of the best traders and a lot of the stuff I use has been used by others. The PowerTrading approach combines support and resistance, Fibonacci, price action, trend lines, and sound money management. If you miss any of these, you won't be successful.

River trade is just one aspect and we will only use it for the setup. The old river card is only part of our indicator setup and I would never recommend trading based solely on the crossover. As we continue with this topic, I will try to teach you the entire PowerTrading method. Please understand that you have to practice and have the patience to master the method.

Power Trading/River Trading

Currencies: I currently only support GBP/USD, although this method works well for other currency pairs as well.

Time frame: M15

set up:
1- Envelope
2-62SMA

1- Create an envelope with period 62, simple MA method, and a deviation of 0.05 at the close.
Upper color: blue; lower color: red

2- Create 62 SMA on closing price and add levels -30, +30, --60, +60, -90, +90
MA color black; level color: gray

template
http://www.divshare.com/download/2724572-c7e

FX sniper
http://www.divshare.com/download/2919082-c36 http://www.divshare.com/images/icons/share.gif

Entry 1 : Enter after breaking through the area. It's always better if it falls within the range of Fibonacci numbers.

Taking profits:
1- Use Fibonacci levels, support and resistance levels, etc.
2- Look for reversal candles and patterns.

Stop loss:
1- Use Fibonacci levels, support and resistance levels, etc.
2- Use another band and if you are long then set the SL in the lower band and if you are short then set the SL in the higher band
3- SL of 50-60PIP

Area breakouts are a way to consolidate prices and identify support and resistance levels. You use a box to set up your area. This is unlike any other box because it is not based on arbitrary time, but on price action and Fibonacci. We are trying to draw boxes around the price as it consolidates. We do withdraw funds when prices move significantly. Below is an example where the box is plotted between 0 and 38.2 for Fib fluctuations. Notice how the price moves within the area over time. We kept moving forward and this became the zone.