• Fri. Sep 17th, 2021

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Forex Trading Strategy: 300 Pips a Week with Price Action

Jan 20, 2021

The 300 pips a week with Price Action trading strategy is a system based on the use of support and resistance zones with additional filtering of entry signals.

Strategy parameters

  • Currency pairs: any
  • Timeframe: M15 and higher
  • Trading time: any
  • Platform: Metatrader 4
  • Risk management: choose such a lot size that the risk is no more than 2-5% of the deposit per trade

Indicators used

  • Highest Lowest and Reentry Point
  • Magnified price
  • Supply and Demand V.3
  • RatisCy Filter
  • Symbol Changer Profit Display

Installing indicators and strategy template

  • Unpack the zip file with templates and indicators
  • Copy the indicators to the MQL4 folder -> indicators
  • Copy the templates to the templates folder
  • Restart the terminal
  • Open the chart of the required currency pair
  • Install a template named 300 pips a week.tpl

The graph should look like this:

300 Pips a Week with Price Action strategy

Signals indicating the opening of a buy position

  • a “Buy trend” signal appeared;
  • the price is in the support zone or bounced up from it;
  • bars of the histogram are blue.
300 Pips a Week with Price Action strategy Buy example

Signals indicating the opening of a sell position

  • a “Sell trend” signal appeared;
  • the price is in the resistance zone or bounced down from it;
  • bars of the histogram are white.
300 Pips a Week with Price Action strategy Sell example

Setting stop loss and take profit

  • stop loss is set above / below the previous local high / low;
  • take profit is set at a ratio of 1.3: 1 to stop loss or at the opposite resistance / support zone.

Before using the 300 pips a week with Price Action trading strategy with real money, I recommend learning and testing it on a demo account.

In 300-pips-a-week-with-price-action.zip file you will find:

  • [ORT] Supply_Demand_v3 nmc.ex4
  • CO_NL_BS_Higest-Lowest_and_Reentry_Point.ex4
  • Magnified Market Price_TRO_MODIFIED_VERSION.ex4
  • RaitisCyFilter.ex4
  • Symbol changer profit display.ex4
  • TPN.ex4
  • Readme.txt
  • 300 pips a week.tpl

Download 300 Pips a Week with Price Action strategy files for free: