Forex Strategy Momentum Pinball – another strategy Linda Raschke, this forex strategy is simple enough and is not a long-term,
but nevertheless it allows for its correct use, to receive
profits in the forex market. Although just I want to warn that the transactions are
not so often (because the signals we receive on a daily interval). This strategy is a bit modernized.
Strategy Momentum Pinball – multiple currency (i.e., is suitable for any currency pairs) transactions are the signals of a 2-interval: D1 and H1
To trade on it, we need to be installed on schedule for the chosen currency pair is only one indicator:
1) Momentum Pinball indicator with the following parameters:
- PeriodRSI = 3;
- PeriodROC = 1;
- also add levels 70 and 30.
Now let’s look at the conditions under which we enter into transactions in accordance with the rules of strategy Momentum Pinball.
Conclude a deal to buy if:
- MomPinboll light appeared at the closing of the daily candle below the oversold 30.
- The next day, we are waiting for the closing of the first hour candle
- Open Buy, if the price has gone from peak hour candle closed at least 10-15, maximum – 20 points (do not forget that
trade is conducted on the basis of the closing day candles). distance depends
the volatility of the currency pair – the higher it is, the more, respectively, and
larger indentation for opening the transaction. This advisor distance is calculated automatically. Take the difference between the maximum and the minimum of the previous day and calculate 20-30% of this value.
- Once the position is opened, set the stop-loss insurance
at the same distance, but this time from a minimum of
hour candle closed 2nd day (of which we postponed the opening price of Buy). Profit target is set at the same distance from the highest closing hour candles.
Usually, the price on the market should not be
to return to the stop-loss, but if you knock on the stop-loss, the
please install a new buy position at the price of the first position
For transactions on sale – the reverse condition!
Description of input parameters:
- ExtPeriodRSI – RSI period (Relative Strenth Index);
- iExtPeriodROC – ROC Period (Rate of Change);
- Level_UP – Upper Level indicator Momentum Pinball;
- Level_DW – The lower level of the indicator Momentum Pinball;
- TP – level take profit as a percentage of the difference between the maximum and minimum of the previous day;
- SL – The level of stop-loss as a percentage of the difference between the maximum and minimum of the previous day;
- Lot – volume of open positions;
- Deviation – opening price slippage in points.
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