Price Action Signal
- Utilities
- Karl Patrick Espina Castillo
- Version: 1.1
- Updated: 28 April 2021
- Activations: 10
This Price Action Signal will help you scan the 28 major currency pair to identify potential reversal trend in Daily Chart using Engulfing and Pin bar candle stick pattern.
Plus it will notify you to your phone if potential setup have found, you don't need to stare on your screen all day!. Plus if you don't have the strategy yet I have a strategy cheat sheet bonus so you can get started. This strategy requires only 10 mins a day! this can help you a lot, if you have a busy lifestyle or have a busy schedule on your job this will save you a lot of time and this is a stress free strategy. Of course you can also use other strategy to fit your style of trading.
Input Parameters:
Pair Suffix - If your broker use a suffix you can put it in here or else leave it blank.
Push Notification - If enabled this will send you a notification directly to your mobile phone when a potential setup is found but not yet close. (Must be Setup in your MT4).
Monitor Until What Time - This will monitor the previous day candle stick closing price and will stop monitoring depends of what time you set.
How to use:
If setup found you can click the currency pair and it will open the chart for you.
Now I will show you the exact rules of the strategy I'm talking about. ( you can see it in the screen shot)
Naked Trading Strategy
- Confirm support and resistance on daily chart.
- Identify Bullish/Bearish Engulfing or Pin bar on daily chart. (The Price Action Signal will help you find this).
- Enter trade (in two parts) 5 pips above/below the candle stick pattern.
- Set two profit targets at next support and resistance level.
- Stop loss 5 pips above/below the candle.
- Take profit target 1 should be at least half of the initial risk.
- If take profit target 1 is hit move stop loss to break even on the 2nd part of the trade.
Now you can walk away with that strategy and start trading!
Imagine scanning all the market to find those winning setups and end up not finding a good setup, you waste a lot of time there. We can use the computer to do the scanning for us and we can focus directly to the strategy and enter a trade.
Note: you should take risk at your own self, I do not promise that it will generate you a profit, no one always win in the market.
If you like the strategy and you would like to support me you can purchase the Price Action Signal.
