The Bouncing Pip | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

Hello everyone.

I present to you a system called Bounce Points

This is a system originally developed by BigBear, so full credit to him, but I modified it slightly. This system can be used with any pair.

Basically, the system is very simple. Using MT4, open 3 charts on 3 different time frames (i.e. M30, H1, H4).

Download the indicator and apply the templates that come with all three charts.

Take a look at the picture, this is what you should see.

entry:

Sell: When the ZigZag arrow (red) and the ZigZag line meet at the same candle and the RSI is above 90, then go short.

For Buying: Go long when the ZigZag arrow (green) and the ZigZag line meet at the same candle and the RSI is below 10.

Make sure you review these entry conditions for all 3 timeframes before trading.

quit:

Stop loss is placed at the high or low of the candle on the H4 chart. Take profit is when you see the opposite zigzag arrow and zigzag line appear on the same candle on any of the 3 time frames.

I look forward to your comments. Suggestions and feedback are welcome.