AllAbsoluteStrengthTrend

This my chart, TF set to 240 on 5min chart.

I opened the 3rd trade for USDCAD ... and this is my thinking about this possible trading system (price crossing pivot line) :

1. Price crossing pivot (with confirmation of AllAbsoluteStrengthTrend_v1 indicator by color) - it is good signal to enter.

2. Stop loss may be placed near pivot line - example :

3. But it is some problem with exit :

I mean - exit on S1 or R1 is good one but the price is not always going to far from pivot so it may be necessary for future possible EA to use standard take profit value for example.

4. One more additional indicator may be good to help with exit.

this is updated situation: +77 pips by equity

Hi Newdigital,

I find that with most of your trading, your stops are much higher than targets. In the long run due to this risk to reward ratio, does it hurt the performance as it takes many winners to make up 1 loss? thanks

This is because I entered too late. Basicly - we should open the trade when the price is crossing pivot line on close bar (confirmed with color). It means - stop loss (which is placed near pivot line) should be small.

Example :

I am just experimenting because there is some problem with exit with this possible system (means - i do not know where to exit)

There is some other way (scalping) about how to trade pivot (according to this article) but I did not try scalping with pivot sorry.

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GBPJPY trade was closed in profit. There are 2 trades open now: AUDUSD and USDCAD. This is the situation with USDCAD :

This is updated situation for AUDUSD - as we see - I entered too late - I should enter in September for example as we see from the image :

Trade for AUDUSD was closed in profit

This is updated statement :

This is updated situation for USDCHF (17 pips):

and this is for USDCAD (50 pips):

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Indicators and template to download - read this page.