Simple Daily Trend Reversal Trading Syst
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https://www.forexfactory.com/showthread.php?t=864690
Hello everyone, welcome to my topic. I want to share with you a great strategy that I have been trading consistently for over a year. I have had considerable success with this strategy and you can have great success too if you follow all the trading rules of this strategy.
This strategy is based on trading trend reversals. This requires you to be very patient and calm because there are very few confirmed setups, but when there are confirmed setups, most of the time it is profitable. This strategy uses 4 main indicators.
We will primarily trade on the H4 chart, but can also use the H1 and D1 time frames.
Setting stop loss and take profit levels is a personal choice. For me, when I set my stop, I usually set my stop to the previous swing high or swing low (the previous ZigZag arrow) and check the pivot level. I also keep a close eye on price action. The price target can be a fixed target (+50-100 points), or use Fibonacci retracements, % ADR, or get the maximum point when there is a new confirmed opposite signal. You can also set a trailing stop after reaching a predetermined minimum number of pips, then move SL to BE, etc. I would monitor price action most of the time and exit if I saw the trend changing and a new reversal forming. Please see below for trading rules:
Buying rules:
- A green zigzag arrow will appear.
- The Turbo JSRX indicator is in oversold territory (below the 30% level) and indicating a green uptrend.
- The price will touch and/or be within the pivot level area (0-25 points) levels, S61, S78, S100.
- When the candle crosses up from below and closes above the 10 EMA, and only if the trade is still confirmed by 3 indicators.
- A red zigzag arrow will appear.
- The Turbo JSRX indicator is in overbought territory (above the 70% level) and indicating a red downtrend.
- The price will touch and/or be within the pivot level zone (0-25 points) levels R61, R78, R100.
- When the candle crosses and closes below the 10 EMA and only if the trade is still confirmed by 3 indicators.
It is also important to monitor price movements. Sometimes the current candle crosses the EMA with a big fast move, in which case I don't wait for the current candle to close but enter immediately to capture the rest of the move. Please do this at your own discretion!
This strategy works great and I encourage everyone to try this strategy and please share your results with us in a post. I know this strategy can be very profitable for everyone. Now let's enjoy trading and collect more points from the market!
Please subscribe to stay up to date on all the latest developments in this strategy.
Please give me your feedback so that everyone can find success with this strategy. Green dots for everyone.
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The EA has a bug/bug: https://www.forexfactory.com/showthread.php?p=10657522#post10657522 -
EA does not trade: https://www.forexfactory.com/showthread.php?p=10764025#post10764025 -
My signals are different than those on TE: https://www.forexfactory.com/showthread.php?p=10909842#post10909842 -
Something went wrong and the EA is not working properly: https://www.forexfactory.com/showthread.php?p=10902480#post10902480 -
I have a question about EA: https://www.forexfactory.com/showthread.php?p=10902480#post10902480 -
This thread has too many pages to read: https://www.forexfactory.com/showthread.php?p=10902480#post10902480 -
I haven't read the whole article yet, I have a question: https://www.forexfactory.com/showthread.php?p=10902480#post10902480
Simple Daily Trend Reversal Dashboard EA
The SDTR EA originally developed by ebeckers has been temporarily discontinued. Due to the poor performance of the EA and because the strategy was recently updated, it has been removed. We are currently developing a new EA with updated strategy rules. It will be released for testing soon. stay tuned!
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