Forex Strategy ZZelse

Forex ZZelse strategy - a simple strategy based on signals ZigZag indicator and other trading rules in forex, it is intended for the currency pair EURUSD (H1), although the adviser written on this strategy well itself showed on the currency pair, the AUDUSD, in its simplicity, this trading the system is somewhat similar to the strategy of forex ZZ.

Recommended strategies for Forex Brokers with MetaTrader 4

First of all, we set on the hourly chart of EUR / USD ZigZag indicator with parameters 15-0-3.

Trading Rules for ZZelse strategy

For transactions on SALE:

1) We are waiting for the formation of a local maximum (in the figure below point 3) zigzag and it should be less than another - the previous local maximum (point 1)

2) After the formation of 2 peaks, above the 3 exhibit a few points pending order BUY STOP

3) The safety order - a stop-loss order is placed initially at the nearest minimum zigzag - point 2 (ie, the last local minimum)

4) Take-profit set at a distance of 80 points (for 4-digit broker, such as Forex4you, for 5 digit broker, Alpari type - will be 800 points).

5) If the chart appears a new minimum zigzag (point 4 in the figure below), then move the stop-loss is a pending order (regardless of whether it is opened or not yet) on the level of:

We measure the distance from 3 to 4 and set it to 35% of the distance from the top 3!

The easiest way to make a measurement using the Fibonacci levels, after setting the level of 35% (or my personal opinion, and you can set a stop for 38.2%, if you wish not to add new levels).

6) Next, a stop-loss on portable zigzag lows.

7) In the event that the price has gone down and the order has not been opened, the transfer of our order for a new local maximum, that is, turn to paragraph (1 Shopping).

For transactions on SALE:

1) We are waiting for when the Euro-dollar chart formed a local minimum zigzag (first figure, the point - 6) and it will be above the previous low - in the picture above point 4

2) Arrange the following point 6 on several items pending order SELL-STOP

3) The safety order - a stop-loss order is placed on the near maximum zigzag - in the figure Point 5

4) Take-profit set at a distance - 210 points (for 4-digit broker forex and 2100 points for 5-digit).

5) When the chart a new maximum zigzag move the stop-loss of our orders (regardless of whether it is opened or not yet) to the level of 15% of the movement "at least the last - the last a maximum." And though it seems to stop very small even compared with transactions for the purchase, but the author of forex strategy, he is a programmer, claims that this is quite enough ...

6) Next, a stop-loss on traylinguem highs zigzag.

7) In the event that the price has gone up and the order was not open, tolerated our order for a new local minimum (see paragraph 1 for sales)