Zeus Support and Resistance Strategy For MT4
Table Of Contents:
- Zeus Support and Resistance Strategy For MT4
- Zeus Support and Resistance Strategy For MT4 Long trade setup
- Zeus Support and Resistance Strategy For MT4 Short trade setup
- Managing the trades
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The Zeus Support and Resistance Strategy For MT4 are widely popular in the skilled trades community. Due to the complexities associated with the use of the system, the rookies and the intermediate traders often ignored the edge. Even after compiling the edge to a simple template, the traders find it hard since they don’t have any idea which template they should use.
But we will make things simple. The key indicators are Support and resistance lines 5 min, -U.turn SR, SR indicator, Zeus arrow mq4. And 1 min Binary mq4. Though support tools are used in the template these are the key players that define the potential setups in the market. Now let’s come to different versions of the template. As the strategy files different forms of the template with different functions, normally the traders intend to use all of the templates.
But with the help of the Zeus premium template, you can get the work done in most of the assets. Upon extraction of the file, don’t get confused just because it has more than 5 different templates. Find the Zeus premium template and load it on the chart to get your desired trade setups.
Before you move the trade setups, remember, the system can find good signals in any TF. But we will minute chart as it will give us an intraday trading opportunity. In case you prefer a long term trading technique, you can stick to the hourly or the daily chart. People who have a problem with over trading can use the higher time frame. For now, let’s see how the Zeus SR strategy helps us to get better at trading.
Zeus Support and Resistance Strategy For MT4 Long trade setup
Expecting the price of the asset will go higher shortly, tells us to open the long trade. You should see a series of lines indicating the support and resistance level. These lines are the most zone for the traders as the trade will be taken these levels. Before price falls to a strong support level, you should see a green circle and arrow mark below the candle.
After that arrow and green dot, the price will still fall. The downfall in the asset will stop when the price hits the major support line. Look for the doji or the bullish PA pattern. As soon as you spot the doji or the PA pattern, you can open the long trade. The stop loss will be 7 pips below the support line. The take profit will be set to the Zeus resistance line.
People who lack in knowledge can’t determine the doji or the bullish candlestick pattern. For them, we will simplify the steps. Look for the doji pattern before you open the long trade. The doji pattern has a small body and long wick in both directions.
Open the long trade when the doji pattern is formed. But don’t get emotional and increase the risk to 3%. The maximum risk for the trade setup should be 2% as it will create a safe barrier in your trading career.
Zeus Support and Resistance Strategy For MT4 Short trade setup
For the short trade, the steps are exactly similar. But we will describe the setup differently so that you can take advantage of the volatile market. Remember the fact, the same trading strategy can be used in several different ways. It depends on the trader’s skill level how they are going to use the edge.
For the short trade, we will use the verified resistance. Closely look at the chart, and you should see the verified SR level. These levels are the place in which price has stayed for a long time in the past. Before the price goes to the verified resistance level, you should see the classic selling arrow and a red dot in the chart. Those are the dot that tells you to get ready for the short.
In most cases, the dots and arrow are formed at the top of a strong bullish candle. It will take a few candles for the bulls to test the verified resistance zone. You can also set the pending sell order 1-2 pips below the verified resistance. The stop loss will be placed 14 pips above the resistance line. For the take profit, you have to manually assess the support level. People who want to use the short cut method can use 50 pips as the take profit.
But remember, the edge is capable enough to find the setups that can offer more than 100 pips profit. In case you want to take such trade, you have to pick the trending asset. Never try to win more than 50 pips by taking the trades against the trend.
As long as the TP level is not exceeding 50 pips, you can use the edge without analyzing the existing trend. But as you gain more experience, slowly learn to analyze the trend before you take any steps to find the trend.
Managing the trades
Setting the exit point when the trade goes wrong is done with the help of the Zeus SR level. People who want to accurately set these levels must depend on the price action signal. Learning about the pa signal is not easy. You have to spend time in practice platforms and see the functions of different kinds of patterns.
But to ease the process of trading, knowing about the pin bar and the doji is enough. If you get spare time learn more about the advanced pa pattern as it will allow you to reinforce the signal. Try to use this method is a routine manner. The trade should be taken in a stable state of the market. In case, you open trades during the news, you may become the victim of a trend reversal or false spike.
To avoid such losing trades, you should know about the schedule of the key news. We are not asking you to learn fundamental analysis rather we are asking you to stay cautious about the potential volatile period. Regarding your risk exposure, you should not increase the risk to 2% of more. If you do so, you won’t be able to withstand frequent losing trades. Start with 1% risk at the early stage as you gain confidence, increase the risk to 2%.
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