The PIPQInd indicator should then plot an arrow pointing the direction of the trend, which should be in confluence with the AO.
Indicators:
PIPQInd
200 EMA
Awesome
Preferred Time Frames: 5-minute chart only
Currency Pairs: FX majors, minors and crosses
Trading Sessions: Tokyo, London and New York sessions
Entry
The 200 EMA line should slope up.
Price action should be in an uptrend based on price swings.
The Awesome Oscillator should be positive green.
The PIPQInd indicator should plot an arrow pointing up.
Enter a buy order on the confirmation of these conditions.
Stop Loss
Exit
/////
Entry
Price action should be below the 200 EMA line.
The 200 EMA line should slope down.
Price action should be in a downtrend based on price swings.
The Awesome Oscillator should be negative red.
The PIPQInd indicator should plot an arrow pointing down.
Enter a sell order on the confirmation of these conditions.
Stop Loss
Exit
/
πππ½ Recommended Broker:- https://one.exness-track.com/a/2kmipj2hrh
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The Pin Bar is probably one of the simplest candlestick pattern that traders may come across with. It is a candle composed of a small body with an extremely small wick on one end and a long wick on the other end. A good rule of thumb in identifying pin bar patterns is that the long wick should be 2/3 the size of the entire candle.
The long wick signifies price rejection. It shows that price did reach that level. However, it also shows that the market was quick to push price back to where the market opened, creating the long wick and the small body.
In spite of its simplicity, pin bar patterns are very effective. In fact, when used in the right support or resistance level or in confluence with another indicator, the pin bar can produce signals with very high win probability.
The Pin Bar indicator simplifies the method of identifying pin bar patterns. It simply plots an arrow pointing the pin bar and the direction of the pin bar pattern whenever it detects one. Traders can use this as an entry signal to help them enter a trade objectively.
MA Ribbon filled 89-21 is a trend following technical indicator based on moving averages. It plots a pair of modified moving averages. The faster moving average line is set at 21 periods, while the slower moving average line is set at 89 periods. Thus the name 89-21.
The moving average lines can also be modified based on type, period and source of its computation, whether it is the open, close, high, low or median.
Trend direction is based on how the two lines are stacked. The indicator also shades the area between the two lines to indicate the direction of the trend.
The trend is bullish if the faster moving line is above the slower line and the area between the lines is shaded red. On the other hand, the trend is bearish if the faster line is below the slower line and the area between the lines is shaded lime.
Price action also tends to stay above the lines in a bullish trend, and below the lines in a bearish trend.
The lines also tend to slope in the direction of the slope with the occasional reversals on the faster line during retracements.
Simple Pin Bar Bounce Forex Trading Strategy is a simple trend following strategy which utilizes the MA Ribbon Filled 89-21 indicator and the Pin Bar indicator to help us identify trade setups.
The MAR Ribbon Filled 89-21 indicator is used to identify trend direction. Trend is based on how the two lines crossover and the color of the area between the two moving average lines.
The area between the two lines also act as a dynamic area of support or resistance.
Price should retrace towards this area.
Trade signals are generated as soon as the Pin Bar indicator plots an arrow pointing the direction of the trend. This indicates that price is about to bounce of the said area.
ππ Recommended Broker:- https://one.exness-track.com/a/2kmipj2hrh
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Entry
The lime line of the MA Ribbon Filled 89-21 indicator should be above the red line.
The area between the two lines should be lime.
Price action should be bullish based on price swings.
Price should retrace towards the area between the two lines.
Enter a buy order as soon as the Pin Bar indicator plots an arrow pointing up.
Stop Loss
Exit
Close the trade as soon as the Pin Bar indicator plots an arrow pointing down.
/
Entry
The lime line of the MA Ribbon Filled 89-21 indicator should be below the red line.
The area between the two lines should be red.
Price action should be bearish based on price swings.
Price should retrace towards the area between the two lines.
Enter a sell order as soon as the Pin Bar indicator plots an arrow pointing down.
Stop Loss
Exit
ππ Recommended Broker:- https://one.exness-track.com/a/2kmipj2hrh
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π Turn on Signal Alert on Indicator Settings.
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βοΈππ½ 1 Hour Recommended Time Frame:
πππ½ The Strategy Requires Zero Spread Broker Such as Exness .com
πππ½ Add Extra Technical Analysis for Take Profit & Stop Loss:
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Asymetric Triangular Signal.ex4
30.5 KB
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