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Simple Candlestick-Pivot Method - MT4/MT5 Resources

author EAcpu | 2 reads | 0 comments |
First of all, I would like to thank everyone who has helped me improve my trading skills. Although I've been following this great forum for a long time, I haven't posted anything yet. Now I thought it was time to give something back to show my appreciation to everyone.
This method is very simple and very profitable... All we need to do is observe the candlestick patterns around the daily pivot points, support points and resistance points... When there is a good trade setup, we simply enter the trade open price for the new 1 hour candle
gbpjpy currency (1 hour characters)
50 pips stop loss
100 pips target...and I recommend using breakeven when our position +50 pips is in our favor..
This month (so far) gave me 950 points..yeah sounds crazy but it's true..of course you can do backtesting or forward testing...

Entering the trade... If the price has a nice big move up to any pivot point then we look for candlesticks... If there is a bullish move we look for bearish pin bars and vice versa... You can easily understand the approach when you look at the "chart to be posted soon"...
Good luck to everyone...
If you have any comments or questions, please leave a message

I added the Pivot indicator and an Excel sheet that I made and use for backtesting, forward testing or finding the lot size for the next trade... You might find it handy...

If you want to check this method on larger time pivot points, I added another nice multi-pivot point indicator posted by trendchaser (thx)
set up:
ivotset=1 means daily 2 means weekly 3 means monthly pivot
daystarthout=I changed to 00:00 (in fxdd)
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