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Pinbar Filtered By Value Chart Forex Patterns Strategy
This system is based on price action and overbought and oversold. You can use this in a 5 minute timeframe or hihgher. This is also applicable to any financial market.
No trade should be taken befor economic news for intraday traders.
Expiry time: 3 candles.
Forex Indicators:
- Pin Bar indicators,
- News indicator,
- Bands (20, 2), optional.
- Value chart (ob level 6- os level -8)
Buy Entry:
- When the appears the buy alert of the Pin Bar if in the same time the Value Chart indicator is in OS -8.
- Place a buy pending order 1 pips above the high of the pin bar candle.
Sell Entry:
- When the appears the sell alert of the Pin Bar if in the same time the Value Chart indicator is in OB 8.
- Place a sell pending order 1 pips below the low of the pin bar candle.
Exit position:
The best target is ratio 1.25 stop loss or the middle band.
Stop loss 2 pips below/above the bands or 1 pips above/below the Pin Bar candle.
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