HP setup | Foreign exchange EA download-MT4/MT5 resources-MetaTrader 5 resources
This is a simple setup and when it happens, the probability of a reversal is high.
In an uptrend, if the price reaches R1 three days in a row but does not test the PP (pivot point), the fourth day is a good day to sell at R1 with a target of PP. The same is true for a downtrend, if the price reaches S1 but does not return to PP within three days, it is very likely to buy at S1 on the fourth day with a target of PP.
This is just a setup I've included here, if you want to use it, do so at your own expense and risk. This is based on visual backtesting of EUR/JPY only. I must add that you won't get many deals in a month. Good luck.
In an uptrend, if the price reaches R1 three days in a row but does not test the PP (pivot point), the fourth day is a good day to sell at R1 with a target of PP. The same is true for a downtrend, if the price reaches S1 but does not return to PP within three days, it is very likely to buy at S1 on the fourth day with a target of PP.
This is just a setup I've included here, if you want to use it, do so at your own expense and risk. This is based on visual backtesting of EUR/JPY only. I must add that you won't get many deals in a month. Good luck.
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