Temporary s/r approach | Forex indicator download - MT4/MT5 resources

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hi

I would like to discuss this trading method:

Backtesting EURUSD December 24 winners, 19 losers, January 28 winners, 20 losers, 2009 25 winners, 9 losers, March to date 12 winners, 11 losers

View charts 1 hour after European markets open at 09:00 GMT and 2 hours after US markets open at 16:00 GMT or 1 hour and 15 minutes after major US news releases

Draw a vertical line at these times and use horizontal lines to mark the previous highs and lows of the zigzag

Consider temporary support and resistance levels for horizontal lines

Place buy order at high level, sell order at low level, SL 15, TP 20

Let the 9:00 GMT orders run to 13:00 GMT so that the spreads and volatility of the US press releases are not affected. (As an option, if only low-impact news is scheduled, orders can be opened before 16:00 GMT)

Let the 16:00 GMT order run until 9:00 GMT the next day as prices are not driven by impac-news during this period

If no clear zigzag is given when the screen is accessed, or you suspect the price is at a high or low, wait up to 1 hour for a signal. If it doesn't happen, forget about it.

Use two zigzag indicators, standard mt4 indicators

First: Depth 3, Deviation 2, Backoff 1
Second: Depth 4, Deviation 3, Backoff 2

Questions, comments, contributions, backtest results, etc. are welcome

best regards

ashes

EDIT: Due to US Daylight Saving Time, the 9:00 GMT order should be canceled at 12:00 GMT and the second set of orders should be opened at 15:00 GMT