Since MetaTrader is the most common program I am going to explain this system on this platform. The indicators provided here work on MetaTrader 4 platform.
You have to copy indicators to “indicators” folder and template files to “template folder”.
Indicators go to “C:\mt4\experts\indicators” folder and templates go to “C:\mt4\templates”.
Follow The Bouncing Pip Trading Strategy:
Now let’s move on to our trading method. You can use this strategy on any pair. I will be explaining this strategy on GBP/USD charts. We are going to open three GBP/USD charts and apply the template to all three of them. After doing this set first chart time frame to 4hours, second chart to 1hour and third chart to 30mins.
We will be looking for an (red-blue) arrow to appear on 4hours chart first. We will be waiting for the same type of arrow appear on 1hour and 30mins next, when all 3 arrow point the same, go in that direction. Place your stop according to your risk appetite. I use at 75 pips on 4hours and 30pips on 1hour depending on which pair you use and your risk appetite, you can set your goals. Your trade will go until you hit your goal or the next bounce with an arrow.
Now I will show you a buy example. Check the green arrow on the charts, that is our entry (buy) signal.
We see the green arrow on 4hours chart, now waiting for a green arrow to appear on 1 hour chart.
Here it comes. Now we are entering (buying).
Now a sell example:
Here it comes. Now we need the last arrow to confirm the signal and open the position.
Download Follow The Bouncing Pip Forex Strategy Indicators and templates
- #Signal_Bars_v9 .ex4