Set & Forget Forex Support and Resistance Strategy

This is a strategy that works on any currency and uses price action in trading. This works best on a 4 hours timeframe.

Forex Indicators:

Trade Day – it shows the maximum and minimum prices for the day and sign the name of the trading days of the week.

Settings:

• _color2 = Gainsboro; – color lines
• limit = 30 – number of daily bars displayed
• Sho_bars = true; – skip the line daily bars
• Gann square sq9 indicator: setting andle up 25, angle down 25.

Long Entry:

• If the last bar of the day close above the Gainsboro line, place a pending order on the above next resistance of the Gann square indicator.

Short Entry:

• If the last bar of the day close below the Gainsboro line, place a pending order on the below next support of the Gann Square indicator.

Stop loss 2 pips below or above the last 4 hour bar of the previous day.

Profit target 10 pips.

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