Market / MetaTrader 4 / Indicators /

SlingShot and Pinch Strategy MT4

45 USD

Demo downloaded: 39

Published: 18 April 2023

Current version: 1.11

SlingShot and Pinch Strategy MT4

Name: SlingShot and Pinch Strategy MT4
Price: 45.00 USD
Rating: 4 (1 reviews)
Author: Johannes Schoeman

Indicators
Johannes Schoeman
Johannes Schoeman
Australia

1741
4 (1)
9 products 1 topic 11 comments
Version: 1.11
Updated: 11 July 2023
Activations: 10

Scalping, Mean reversion or Position trading strategy

Get into an established trend on a pullback in the market.

Use the Pinch in the indicator for profit taking.

Use the Pinch as a mean reversion strategy, scalping back to a moving average line.

Input Parameters

Fast Sling Shot configuration.
Slow Sling Shot configuration.
Dual Sling Shot configuration.
Price line configuration.
Trigger zones or levels.

Example of Sling Shot trade idea:

Price line sets the mood, below the baseline level (50) we look for selling opportunities.
Fast line, Slow line or both (Dual) indicate a pullback to the opposite extreme level, provided the price line remain below 50.
Improve your results by trading in the direction of the prevailing trend.

Example of Pinch trade idea:

All three bands pinch together at the set pinch level.
Mean reversion type trade idea.
Trade back to a 20 or 50 EMA for a scalp.

Use the pinch setting to take profit or partial close on your sling shot entries.
Use prior lows, highs as profit targets.

more...

Screenshot #1 SlingShot and Pinch Strategy MT4

Screenshot #2 SlingShot and Pinch Strategy MT4

Screenshot #3 SlingShot and Pinch Strategy MT4

Screenshot #4 SlingShot and Pinch Strategy MT4

Screenshot #5 SlingShot and Pinch Strategy MT4

Screenshot #6 SlingShot and Pinch Strategy MT4

Screenshot #7 SlingShot and Pinch Strategy MT4

Screenshot #8 SlingShot and Pinch Strategy MT4

N. Israel 2023.07.08 10:49 #

Best strategy for detecting pullbacks in market !

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N. Israel 2023.07.08 10:49 #

Best strategy for detecting pullbacks in market !

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Reply from developer Johannes Schoeman 2023.07.08 10:52 #

Will add alert function