Set & Forget Forex Support and Resistance Strategy
Table of Contents
- 1 Set & Forget Forex Support and Resistance Strategy
This is a strategy that works on any currency and uses price action in trading. This works best on a 4 hours timeframe.
Trade Day – it shows the maximum and minimum prices for the day and sign the name of the trading days of the week.
- _color2 = Gainsboro; – color lines
- limit = 30 – number of daily bars displayed
- Sho_bars = true; – skip the line daily bars
- Gann square sq9 indicator: setting andle up 25, angle down 25.
- If the last bar of the day close above the Gainsboro line, place a pending order on the above next resistance of the Gann square indicator.
- If the last bar of the day close below the Gainsboro line, place a pending order on the below next support of the Gann Square indicator.
Stop loss 2 pips below or above the last 4 hour bar of the previous day.
Profit target 10 pips.
Forex Trading Strategies Installation Instructions
Set & Forget 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.
Set & Forget 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.
Recommended Forex Metatrader 4 Trading Platform
XM MT4 Broker – Accept Global Clients (Excluding U.S Residents)
- Free $30 To Start Trading Instantly
- Deposit Bonus up to $5,000
- Unlimited Loyalty Program
- Awards-Winning Forex Broker
IG Market MT4 Broker – Accept Global Clients (Including U.S Residents)
- Trusted and Regulated
- World’s No.1 CFD Trading Provider
- Easy-to-Use Platforms
- USA’s best forex provider
How to install Set & Forget Forex Support and Resistance Strategy?
- Download Set & Forget 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 Set & Forget Forex Support and Resistance Strategy
- You will see Set & Forget 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: