Psycho Level Forex Support and Resistance Strategy
Table of Contents
- 1 Psycho Level Forex Support and Resistance Strategy
This is a price action trading system that works on 15 minute timeframe or higher. This is applicable to all currency pairs.
- Bollinger Bands (20, 2)
- Support and Resistance indicator or draw (Support and resistance)
- Price must break to a PSYCHOLOGICAL level of resistance.
- Awesome Oscillator is GREEN.
- Enter long when the price to close ABOVE the UPPER band of the Bollinger bands.
- Price must break to a PSYCHOLOGICAL level of Support.
- Awesome Oscillator is Red.
- Enter long when the price to close Below the Lower band of the bollinger bands.
- Trailing stop
- Target Profit ( example H1 EUR/USD 20 pips GBP/USD 25 pips, AUD/USD 16 pips).
- Stop Loss: 5 pips above the support for Short Entry, 5 pips below the resistance for Long entry.
Forex Trading Strategies Installation Instructions
Psycho Level Forex Support and Resistance Strategy is a combination of Metatrader 4 (MT4) indicator(s) and template.
The essence of this forex strategy is to transform the accumulated history data and trading signals.
Psycho Level Forex Support and Resistance Strategy provides an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust this strategy accordingly.
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How to install Psycho Level Forex Support and Resistance Strategy?
- Download Psycho Level Forex Support and Resistance Strategy.zip
- *Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Right click on your trading chart and hover on “Template”
- Move right to select Psycho Level Forex Support and Resistance Strategy
- You will see Psycho Level Forex Support and Resistance Strategy is available on your Chart
*Note: Not all forex strategies come with mq4/ex4 files. Some templates are already integrated with the MT4 Indicators from the MetaTrader Platform.
Click here below to download: