Last updated:
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.
Level up your trading
Learn to read the chart — not just the indicator
eBook · Instant PDF
The Candlestick Playbook
Read and trade 40+ candlestick patterns — with exact entries, stops and exits.
Video Course · 12 modules
The Price Action Masterclass
Read clean charts the no-indicator way — pin bars, support & resistance, entries and exits.
Recommended MT4/MT5 Brokers
XM
- ✓ *FREE *$50 to start (withdrawable)
- ✓ Deposit bonus up to $5,000
- ✓ Negative balance protection
Trading forex and CFDs carries a significant risk of loss and is not suitable for everyone. Broker links are affiliate links — we may earn a commission at no cost to you.
Forex Strategy Download:
Enter Your Email Address below, download link will be sent to you.
Get Download Link