Gorilla Method System For MT4 Intro
Now we have on our chart on the MT4 the Gorilla Method System For MT4 as you see it includes four indicators which we will explain and speak about in this article.
The screenshot is on the NZDUSD one hour time frame we have four indicators attached the three moving averages and one pivot indicator.
The biggest moving average we have is exponential moving average with period of 30 and applying to close.
The mid moving average is also exponential one, but the period of it should be 15 and applying to close as well.
The smallest and third moving average we have is an exponential set up with period four.
The fourth indicator we have is the pivot prices indicator that is stating to you the daily pivot and up to three other support and, or resistance areas it is depending on which pivot indicator you use and we attached to you one by the way in the article, but you can always use the pivot version that you are satisfied with.
So, now you clearly know that in this article we will do our best to make it simple for you to understand how the Gorilla Method System For MT4 works exactly and that will be in the next heading, but before that remember that you can download the whole Gorilla Method System For MT4 with notes, templates, and indicators from the section before the next heading by entering your email you will receive the download link.
How to use Gorilla Method System For MT4
There are many simple ways to use the Gorilla Method System For MT4 and here we will tell you the rules and then tell you more about the used indicators and the pivot concept.
First thing to focus on buying or selling the current day pivot must be much bigger than the previous day pivot, which means if yesterdays' pivot is bigger than todays' one you should not try to trade by that Gorilla Method System For MT4 in that day, and wait for a new day.
To be able to open a buy trade you must see all the moving average versions that you have went above the pivot line so that refers that the market is preparing to jump on more.
Usually your trade take profit should be the third pivot line, which means if you are in a buy trade your target should be the third resistance the indicator gave you, and if you are in a sell trade your target should be the third support you see or face.
The exception to leave your trades before hitting the take profit is when the American session end and the price bounces for four candles in the row and can not continue in your favor.
Moving to the stop loss part the best stop loss for this strategy are thirteen pips but you can add five more pips as not all the brokers using the same feeds and there might be a small difference in prices cause of that. If you are not satisfied much to continue your trade you can just leave it when the exponential moving average of ( 4 ) crosses your exponential fifteen moving average in the direction that is against your trade.
The best practice for this strategy is to trade between the tuesday and friday Only and that means no trading in monday based on the Gorilla Method System For MT4 documentation.
On the other side as a confirmation you have have the three moving averages above or below the pivot to buy or sell do not say two are enough, no! You must wait the three to break above or below the line to buy or sell.
Gorilla Method System For MT4 Pros & Cons
The cons of the Gorilla Method System For MT4 is that you can not trade on monday, while most of the times monday market is dead, but still some people loves to trade on monday so, that point is up to you. Otherwise I see that the rules are not tough and it is reasy for anyone to follow it strictly so, test and see if that strategy can work for you or not. Don't test on real accounts.
Summary of Gorilla Method System For MT4
You need exponential 30 moving average, exponential 15 moving average, exponential 4 moving average, and finally a pivot indicator that is showing you todays' and yesterdays' pivot not just one day pivot as to trade the current day pivot must be bigger than the day before.
Simply this is how the pivot calculation works ' pivot point equals the High plus the low plus the close / 3 '
And that is the difference between the normal and exponential moving average ; is that the exponential moving average just giving a higher or bigger weighting to the current / live price of the market while the normal moving average just assigning equal weight to all the values it face.
We would like to add an advice based on our trading experience that might change this system success rate a little bit merge the pivot points with the support and resistance points from the naked chart so, you may be able to avoid trades that have high potential to fail, and in the same time may confirm to you a trade that you are afraid to enter.
You can download the Gorilla Method System For MT4 from inside this article in the first heading. Stay safe, test well before you decide to use that system. Don't forget to browse the other systems that we explain, and have a good luck and successful trading days.