Pivot Point High Low Forex Trading Strategy For MT4

Pivot Point High Low Forex Trading Strategy For MT4

The Pivot Point High Low Forex Trading Strategy For MT4 has a difficulty level of medium. If you are an average trader you should be able to realize some good profits with this system, provided you are to do so in a manner that is not considered as reckless. You need to make sure that your charts are all configured to the hourly time frames.

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Any currency pair can be traded using this method of trading. This scalping system involves the use of two indicators - a zigzag and a pivot point indicator. The pivot point comes with resistance and support levels designated with their own colors for ease of referencing.

The trading protocols follow a straightforward sequence of validation events before any buy or sell position is assumed. In order for to you go long you need to wait for the price to at least touch the pivot point or one of the support levels marked in red. The next part of the buying equation is that the pin bar pattern must appear along with an up-facing arrow.

The moment you have seen these two elements coming together in your trading screen - then you can go about opening your buy position. Your stop loss will go below your entry or signal candle, whereas your take profit target goes above your entry in line with the last swing high. In order for to you go short you need to wait for the price to at least touch the pivot point or one of the resistance levels marked in blue.

The next part of the selling equation requires that the pin bar pattern must appear along with a down-facing arrow. The moment you have seen these two elements coming together in your trading chart - then you can go about opening your sell position. Your stop loss will go above your entry or signal candle, whereas your take profit target goes below your entry in line with the last swing low. The swing highs and swing lows are easily identified through the use of the zigzag indicator so refer to it when you need to set your take profit points.

Download the complete system description and the files here:

FREE Pivot Point High Low Forex Trading Strategy

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