SR Trading | Foreign Exchange EA Download - MT4/MT5 Resources - MetaTrader 5 Resources
Got a bit of free time so I thought I'd post a system I've been trading for a while. This is not a groundbreaking or "Holy Grail" system so many people waste their time looking for, it's just a solid simple system that is an adaptation of the "Fake or Broken" trading I posted years ago (oh I feel old)
Basically, the SR area is determined every week, and the breakout or false breakout of the 4-hour SR area is used to enter the market. few examples
Map major SR areas weekly
4HR enters SR area
...another example
I tend to use a time frame difference of 2 for SR lines and entry points. For example weekly/4 hours, daily/1 hour...if I day trade then sometimes the difference is bigger, 4 hours/15 minutes, 1 hour/5 minutes.
Hope this helps some people. It's simple, clean, works on all timeframes and allows you to send pending orders most of the time, although I prefer candle closes.
Basically, the SR area is determined every week, and the breakout or false breakout of the 4-hour SR area is used to enter the market. few examples
Map major SR areas weekly
4HR enters SR area
...another example
I tend to use a time frame difference of 2 for SR lines and entry points. For example weekly/4 hours, daily/1 hour...if I day trade then sometimes the difference is bigger, 4 hours/15 minutes, 1 hour/5 minutes.
Hope this helps some people. It's simple, clean, works on all timeframes and allows you to send pending orders most of the time, although I prefer candle closes.
Attachment to original post (2)
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