Recommended time interval - by day (D1) and above. At smaller time intervals of false signals will garazdo more.
Currency pair - any strategy multicurrency.
Useful tools and indicators:
1) Tool "pitchfork".
2) The tool "Fibonacci".
3) The indicator Stochastic Oscillator with parameters 8,3,3.
The conditions for concluding transactions for the purchase Forex Strategy "fork":
1) Within the uptrend correction begins. The first peak - the point A. Next for the "A" point at least be denoted as a point "B". From the point of going in an attempt to resume the trend and produced point "C" with a maximum (point "A") should be rewritten not. The "C" may occur either at full rollback downwards, that is formed by another wave and a certain deceleration movement. It may be a long candle down (black), or one or two candles with tails and the like signs of slowing.
At point "A", "B" and "C" building a pitchfork. It is important that after the pullback from point "C" mean the line Vil has not been broken down, that is, the candle should not close below this line. Even better, if at all, until it will not come. The latter at least will be denoted as the «D» DC.
As a point "C", and the point of «D» must not break down the level of Fibonacci 61.8 stretched to the last significant upward movement. Location terms «D» with respect to point "C" does not matter.
2) A point "A" and "C" draw a line - this is the signal line.
3) As soon as the next candle closes breakdown signal line upwards, this line should be set a limit order - Buy Limit. That is going to buy the testing of this line from the top down.
4) From the point "A" to point "C" building a segment and lay it from the point of breakdown of the signal line in the future (in the picture on the dark blue of the signal line). Testing should take place within this line. If the price will approach later, the signal should be ignored.
5) Ideally, at the time of testing Stochastic Oscillator indicator continues to show an upward movement, that is, the main line is above the signal. This addition is not always necessary to perform, but signals from this condition is much stronger and more important.
6) Initial technical stop-loss set at a couple of points below the «D».
In the event that at least one candle closes below the signal line, the deal should be closed immediately at the current price.
7) The main target point is the distance from a point "B" to point "C" of the deferred entry level market.
Optionally, you can use a trailing stop (the built-in MT4 or trailing stop Advisor), but in the choice of its size depending on the currency pair and TF should be especially careful and detailed analysis of all so that you are not knocked out of the market too early.
Terms and conditions for transactions on sale at Forex Strategy "fork":
1) Within the downtrend correction begins. The first minimum - point A. The next point for "A" denotes the maximum of the point "B". From the point "B" there is an attempt to resume the trend and produced point "C" with a minimum (point "A") should be rewritten not. In the "C" point can occur as a full roll back up, that is formed by another wave, and some slowing of movement. It may be a long candle up (white) or one or two candles with tails and the like signs of slowing.
At point "A", "B" and "C" building a pitchfork. It is important that after the pullback from point "C" mean the line Vil has not been broken up, that is, the candle should not be closed above this line. Even better, if at all, until it will not come. This last peak is denoted as the «D» DC.
As a point "C", and the point of «D» must not break up the level of Fibonacci 61.8 stretched to the last significant downward movement. Location terms «D» with respect to point "C" does not matter.
3) As soon as the next candle closes breakdown signal line upwards, this line should be set a limit order - Buy Limit. That is going to buy the testing of this line from the top down.
4) From the point "A" to point "C" building a segment and lay it from the point of breakdown of the signal line in the future (in the picture on the dark blue of the signal line). Testing should take place within this line. If the price will approach later, the signal should be ignored.
5) Ideally, at the time of testing Stochastic Oscillator indicator continues to show an upward movement, that is, the main line is above the signal. This addition is not always necessary to perform, but signals from this condition is much stronger and more important.
6) Initial technical stop-loss set at a couple of points below the «D».
In the event that at least one candle closes below the signal line, the deal should be closed immediately at the current price.
7) The main target point is the distance from a point "B" to point "C" of the deferred entry level market.
Optionally, you can use a trailing stop (the built-in MT4 or trailing stop Advisor), but in the choice of its size depending on the currency pair and TF should be especially careful and detailed analysis of all so that you are not knocked out of the market too early.
Terms and conditions for transactions on sale at Forex Strategy "fork":
1) Within the downtrend correction begins. The first minimum - point A. The next point for "A" denotes the maximum of the point "B". From the point "B" there is an attempt to resume the trend and produced point "C" with a minimum (point "A") should be rewritten not. In the "C" point can occur as a full roll back up, that is formed by another wave, and some slowing of movement. It may be a long candle up (white) or one or two candles with tails and the like signs of slowing.
At point "A", "B" and "C" building a pitchfork. It is important that after the pullback from point "C" mean the line Vil has not been broken up, that is, the candle should not be closed above this line. Even better, if at all, until it will not come. This last peak is denoted as the «D» DC.
As a point "C", and the point of «D» must not break up the level of Fibonacci 61.8 stretched to the last significant downward movement. Location terms «D» with respect to point "C" does not matter.
2) A point "A" and "C" draw a line - this is the signal line.
3) As soon as the next candle closes breakdown signal line downwards, this line should be set a limit order Sell Limit. That is, we sell upward on the line testing.
4) From the point "A" to point "C" building a segment and lay it from the point of breakdown of the signal line in the future (in the picture on the dark blue of the signal line). Testing should take place within this line. If the price will approach later, the signal should be ignored.
5) Ideally, at the time of testing Stochastic Oscillator indicator continues to show a downward movement, that is, the main line is below the signal. This addition is not always necessary to perform, but signals from this condition is much stronger and more important.
6) Initial technical stop-loss set at a couple of points above the «D» terms.
In the event that at least one candle closes above the signal line, the deal should be closed immediately at the current price.
7) The main target point is the distance from a point "B" to point "C" of the deferred entry level market.
Optionally, you can use a trailing stop, but when choosing its size depending on the currency pair and TF should be especially careful and detailed analysis of all so that you are not knocked out of the market too early.
