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Trading Price Levels | Foreign Exchange Indicator Download - MT4/MT5 Resources

author EAcpu | 2 reads | 0 comments |
Hello everyone,
In the past I posted my diagrams on FF threads and people kept asking me what I do, so I decided to open a thread for it.
English is not my native language so please be careful with what I mean and I'm sorry about that.
This is a completely mechanical approach and I don't care much about fundamentals and technical analysis. I've tried many systems and methods, but I can't get them right. The same goes for indicators, so I started looking at price swings/pullbacks and SR levels. Over the course of two years I established some constant price levels for the currency pairs I traded, they were EU, GU, EJ, GJ and UJ.
They are different for each pair and are some distance apart. Prices gradually change. I divided the steps into 3 types: mini, medium and large.
These are:
A. Mini-level:
1. For EU 20 pips, start from 1.3763
2. For GU 27 points, start from 1.5139
3. For EJ 40 pips, start at 120.38
4. For GJ 40 points, starting from 138.38
5. For UJ 35 points, starting from 90.16
B. Medium level:
1. For EU 40 pips, start from 1.3763
2. For GU 54 points, start from 1.5139
3. For EJ 80 points, start at 120.38
4. For GJ 80 points, starting from 138.38
5. For UJ 70 points, starting from 90.16
C. Main level:
1. For EU 120 points, start from 1.3763
2. For GU 162 points, start from 1.5139
3. For EJ 240 points, start from 120.38
4. For GJ 240 points, start from 138.38
5. For UJ 210 points, my trading time is limited from 90.16 onwards, so I trade the major levels on the 4 hour time frame. I look for the candle at the closing price level with the first touch. This means that the price moves up/down from one major level to the next level and touches that level for the first time. If that candle closes above/below it, I will buy/sell at this level, sl is the next lower/higher level, and tp is the next higher/lower level. There are 2 different forms of entry: entry immediately after the candle closes or entry based on a pending order at this level. It depends on the closing price of the candle, if the closing price is close to the level where I place the pending order. If I enter after the candle closes, my stop loss will be the next intermediate level.
Take a look at a better chart.
PS: The backtesting is not long enough, I have only been trading this way for two years. My experience is around 60%, which means I win an average of 6 out of 10 games. There will be a 4-6 losing streak and an 8-10 winning streak. I'd like to see the backtest results. It would be great if some of you did.
Sincerely.
Below is the current chart.
eu.pnggu.pngej.pnggj.png
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eu.pnggu.pngej.pnggj.png
eu.pnggu.pngej.pnggj.png
eu.pnggu.pngej.pnggj.png
eu.pnggu.pngej.pnggj.png

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