💎Awesome PIPQInd Trend Forex Day Trading Strategy is a day trading trend following strategy which is based on the 5-minute chart. It trades on longer term trends on the 5-minute chart, with trade setups based on the confluence of the Awesome Oscillator and the PIPQInd indicator.

💎 The long-term trend is identified based on the slope of a 200-period Exponential Moving Average (EMA) line, the location of price action in relation to the 200 EMA line, as well as the characteristics of price action. Price action trend would be based on whether it is making higher or lower swings.

💎 The Awesome Oscillator should indicate a trending market which is strengthening based on the value of each bar, as well as the color of the bar.

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

💎 Buy Trade Setup
Entry

💎 Price action should be above the 200 EMA line.
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

⛔️ Set the stop loss on the support line plotted by the PIPQInd indicator.
Exit

⛔️ Close the trade as soon as the PIPQInd indicator plots an arrow pointing down.
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💎 Sell Trade Setup
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

⛔️ Set the stop loss on the resistance line plotted by the PIPQInd indicator.
Exit

⛔️ Close the trade as soon as the PIPQInd indicator plots an arrow pointing up.
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