Channel
fibo reversal strategy is a trading system for fast trading on all
time frame. The strategy is based on Channel fibo MTF indicator mq4.
the idea of the strategy is to wait until the price reaches the
overbought and oversold areas outside the channel and to trade on the
reversal signals.
The
strategy is Multime Frame because if you decide to trade for example
at the 15 min time frame the Channel fibo MTF indicator mq4 is set at
the 30 min time frame. Therefore, Channel fibo MTF indicator mq4
always sets a time frame higher than the current one.
Time
Frame 1 min or higher.
Currency
pairs: any, for low time frame only Major, Gold, S&P 500, Dax and
Nasdaq.
Metarader
4 indicators:
Channel
fibo MTF indicator mq4
setting:
time
frame > 1
depth
extremum search 78;
MA
period 10, ma simple, close.
Fibolevel
1 23%;
Fibolevel
1 38%;
Fibolevel
1 50%;
Fibolevel
1 68%;
EG
entry Pro setting indicator based on Dot MMS (used also for Binary
options high /low).
Setting:
RSI
up period 4;
RSI
up level 17.5;
RSI
down period 4;
RSI
down level 77.5.
Trading
rules Channel Fibo reversal strategy
Buy
When
the price go out the lower bands of the Channel Fibo MTF indicator,
wait a reversal buy signal of EG entry Pro.
Sell
When
the price go out the upper bands of the Channel Fibo MTF indicator,
wait a reversal sell signal of EG entry Pro.
Exit
position
The
stop loss and profit target depends by pairs ad time frame.
example
USD / JPY 18 pips stop 18 pips profit target.
The
stop loss / profit target ratio is recommended 1: 1.
Profit
levels can be the levels of the fibonacci bands.
Due
to this characteristic, the martingale with variable multiplier from
1.1 to max 2.0 can be applied as money management.
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