Ross Hook Show 123 Strategy For MT4

Ross Hook Show 123 Strategy For MT4

Table Of Contents:

  1. Ross Hook Show 123 Strategy For MT4
  2. The Ross Hook Show 123 Strategy For MT4 – Long positions
  3. The Ross Hook Show 123 Strategy For MT4 – Short positions
  4. Is the Ross Hook Show 123 Strategy For MT4 any good?


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 Ross Hook Show 123 Strategy For MT4 is a short term trading system as the name suggests. This trading system uses quite a few indicators, but unfortunately, only two of these indicators in the trading system work.

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The Ross Hook pattern is a 1-2-3 based trading system. This is when the price action, many times signals a possible change of trend or a correction. The 1-2-3 pattern is typically found when there is a divergence for example.

The bearish 1-2-3 pattern forms at the high of the chart. This could signal either a correction of the uptrend or a possible change of the trend itself. But we know that very often, trends don’t change direction within a few sessions. It takes much longer than that.

In a bullish 1-2-3 pattern, you will find this forming at the bottom end of a downtrend. This is when prices are likely to correct higher. The main trigger for the 1-2-3 Ross hook pattern is for price to break the high or the low that forms at point 2. Many traders will find it difficult to identify the Ross hook pattern initially, but with a bit of practice, you could easily spot this reversal price action pattern.

While initially, the 1-2-3 pattern is just that, the Ross hook method is where traders should look for a hook to form. This is when prices break down lower or run up higher and then make a retracement.

This retracement is usually in the form of a hook. We should mention that there is no guarantee that you will have a winning trade after finding a ross hook pattern. This is purely subjective to the trader. Therefore, if you are not comfortable trading with such subjective methods, we recommend that you should not use the Ross Hook show 123 strategy.

The indicators that are used in the Ross Hook show 123 strategy are made up of just two moving averages with different levels set to them. In the Ross Hook show 123 strategy, we use the 34 period exponential moving average set to the high and the low of price.

Then, each of these indicators have an additional setting of 150% and 250%. This is nothing but the moving average projected to these levels out of the initial moving average level. Thus, at the end, what you get is basically six different moving average lines.

The main concept of the Ross Hook show 123 strategy is to identify the potential 123 pattern or the Ross hook pattern that can form near any of these moving average lines. Then, following the rules based off the 1-2-3 pattern you could take a long or a sort position.

Having mentioned this, it is important to note that the Ross Hook show 123 strategy uses the 15 minute chart time frame.

However, trends during such time frames can be prolonged. Therefore, traders should bear in mind that the trends formed in the 15 minute chart time frame are always short and therefore, there is a good chance that your trade might not hit the take profit levels.

In this article, we will not look at the Ross hook method, but merely use the moving average lines as the buy and sell triggers for our trades. Let's now take a look at how you can trade long and short positions using the Ross Hook show 123 strategy.


The Ross Hook Show 123 Strategy For MT4 – Long positions




For long positions using the Ross Hook show 123 strategy, we start by looking at the price trends. This is determined by looking at the moving averages. Ideally, we want to see the moving averages sloping lower or flat. Then wait for price to reach one of the lower moving average lines or near the yellow moving average lines.

This will suggest that the price action could turn higher. Now wait for prices to make a retracement back to the yellow line. This is where you have the 1-2-3 pattern formation. Following the break of the previous high, you can go long. Alternately, you can go long when price reverses near the yellow moving average line.

Now take the recent low forming near the yellow moving average line as the stop loss level for your trade. Calculate the risk and set up your take profit for a 1:2 and 1:3 risk to reward set up. Once the first trade is closed with profit, move the stop loss to breakeven for the second trade.


The Ross Hook Show 123 Strategy For MT4 – Short positions




For short positions using the Ross Hook show 123 strategy, we start by looking at the price trends. This is determined by looking at the moving averages. Ideally, we want to see the moving averages sloping higher. Then wait for price to reach one of the outer moving average lines or near the yellow moving average lines.

This will suggest that the price action could turn lower. Now wait for prices to make a retracement back to the yellow line. This is where you have the 1-2-3 pattern formation. Following the break of the previous low, you can go short. Alternately, you can go short when price reverses near the yellow moving average line.

Now take the recent high forming near the yellow moving average line as the stop loss level for your trade. Calculate the risk and set up your take profit for a 1:2 and 1:3 risk to reward set up. Once the first trade is closed with profit, move the stop loss to breakeven for the second trade.


Is the Ross Hook Show 123 Strategy For MT4 any good?


In conclusion, the Ross Hook show 123 strategy is rather a misleading title. Here, there is no indicator that can alert you to the potential reversal pattern that we talked about. Therefore, do not trade this strategy unless you are fully aware of the Ross Hook trading system and how to trade with such set ups.

Because this is subjective not all traders will be comfortable using the Ross Hook show 123 strategy. Traders should bear this in mind. We certainly do not recommend that beginners should use the Ross Hook show 123 strategy due to the complexity and the subjectivity involved.

Download the complete system description and the files here:

FREE Ross Hook Show 123 Strategy

Download the FREE Ross Hook Show 123 Strategy for MT4.

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