Hit and Run Strategy | Foreign Exchange EA Download- MT4/MT5 Resources

rule:

1. Wait for trend (color) changes on non-lag points (setting 24) (must follow closed bar and closed color changes)
- The minimum valid timeframe for this chart is the 15 minute chart!
2. Fibonacci retracement from lows or highs before trend changes (depending on direction)
- Bullish from the lows
- Bearish from highs
3. Wait for the price to follow the trend and fall back to at least 50%
- If working time is longer, shorten to 5 minutes or 15 minutes
4. Buy or sell after rebounding from Fibonacci levels

Entry rules:

1. After a reaction at Fibonacci levels. Set a buy stop or sell stop a set number of points above the low or below the high of the bounce or reaction (this will create an entry similar to a Renko chart without using a Renko chart). Therefore, the number of points after the rebound is fixed.
2 There are many ways to enter a trade. This is just an idea I think would be suitable for this type of setup.

Exit rules:

1. First profit is -24%
2. Runner or -62%

stop:

1. Above or below the most recent high or low
2. OR NLD (non-lag point) color change

Fibonacci levels
- 0%
- 100%
- 50%
- 62%
- 70%
- 79%
- (-twenty four%)
- (-62%)

I expect this will be a bit confusing to a lot of people. If you have never used Fibonacci tools, it will take some practice. With a few weeks of practice, it should be absorbed. I'll post lots of diagrams to explain. I may also make some videos at some point.

enjoy