Trading scheme using Horizontal lines. Simple trading scheme

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All You Need To Trade Is Price (And Two Horizontal Lines)

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All You Need To Trade Is Price (And Two Horizontal Lines)

Post by eddymustika » Wed Aug 29, 2020 1:34 pm

Hi Fellow Traders, I hope you’re all well and happy.

I’d like to share my trading strategy inspired by TRO’s video: All You Need To Trade Is A Horizontal Line.

As the thread title says, all you need to trade is PRICE.

The two horizontal lines that I mentioned refer to the nearest psychological levels; price ending with 00, 25, 50 and 75.

Here are the steps:

1. Price is 10 pips away from the nearest psychological levels. The distance is required to place pending orders.

2. Place buy stop and sell stop at the nearest psychological levels (straddle), with 25 pips TP and SL. This will switch the trade from sell to buy and vice versa in case it stopped out.

3. Repeat when the trade(s) closed

After 10 trades, I have 60% win ratio (not bad for a simple strategy; I’m happy with anything more than 50% actually). I’ll update the result every 10 closed trades.

That’s all. Questions, comments and suggestions are all welcomed

The trading history can be viewed below. Only EURUSD trades closed after 2020-08-23 14:33:03. All other trades are using the old trading system.

PS: If anybody can code the EA for this strategy, please share it here. I deeply thank you in advance.

Forex trading strategy #45 (Simple trading strategy guidelines)

Submitted by Sanjay Ram

Hello all, Sanjay Ram here from Liverpool, England. This is a great spirited site that lends a heart and ear to many aspiring traders, and God Bless the good people who are hosting this site.

I am a businessman, but have been trading for about three years now. I would like to share a very simple strategy. I apologise if it is too simple, or even ridiculous.

1) Plot Support and Resistence Lines on a Daily Chart.
Use pairs like EUR/USD, GBP/USD, AUD/USD, USD/CAD. Remember, S/R are Key Levels of the market; Swing points, historical S/R, short term S/R. Take all these points and connect horizontal lines. Also, note the general trend.

2) At the 4 Hour Chart, plot the lines drawn from the Daily Chart.
Now look for what generally price is doing.For example, if in the Daily Chart price has broken a resistence and moving up (one bar formed only), in the 4 hour chart, there will be a teeny meeny mini uptrend. If this trend were to continue in the Daily Charts, then the 4 hour will hold true to a trend that can last about a week or so.
(get it?)

3) Now plot Bollinger Band, Standard 2 deviation to 10 (not 20).
Take the middle line away and plot a 20SMA. You can do this is METATRADER.

4) Look out for price hitting onto your DRAWN horizontal lines (either S/R).
Then, look out for PIERCING candles on these S/R points. Eg, if is the said uptrend above, we will be looking for a price low to enter.Let’s say price is now at a Support level, it is inside the BB, and at the said support level, it closes with wicks piercing the bands. This is as good a trade to be had in terms of probabilities. On the next candles Half close, we enter long.

5) Please keep in mind the following:

a) Always use the ATR to know what are your chances of gaining how many pips. I have written separately on this subject. Please read up on this matter.

b) Always use good money management. This site has many good reads on this subject.

c) Be disciplined. Like a recent article i saw in this respected site, do not do what you FEEl. do what your analysis tells you.

Wait and wait and wait for your opportunity. The market will always be there after you and me are long gone, my friend, so why worry. Opportunities are galore in the Forex Market. Patience, friend, patience.

And there you have it. I am sorry if this strategy did not use any indicators or other fanciful techniques like switching too many time frames. I have a personal belief; ALL techniques are good, it all depends on the person executing it. Learn which suits you best, and believe me, you will find one!

The Market is True, The Pips are True.

(For now, try and avoid JPY, because of the recent havoc the country has been through, and their central banks trying to hold base. During the Asian session, this can be easily seen and although we can Short positions in most JPY pairs, the retracements and swings will easily eat your Stops out. Just a word of caution only.)

(I am not selling anything, I do write articles for magazines. If the Administrators allow, you may email me.)

Thread: Horizontal Lines

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The index draw horizontal lines on the chart

The index draw horizontal lines on the chart
Alsntr you select a line and if you do not select will be viewed as the closure of the previous candle and the distance between overhead lines and the distance between the bottom and the number of lines with the possibility to show or hide any of these lines
Added option to alert when the price reaches a level to
AllowAlert enable or disable the alarm
CandleAlert candle of 1 means the alarm after closing the candle above or below the level of 0 means the touch-level

it seems good indicatore i will try it thanks my friend

Nice indicator, I will download and play with it’s settings to see how will I get help, if I choose to trade with it in real market conditions. Support and resistance levels is the best strategy, if combined with good indicators.

drawing a horizontal line from the bottom to the high is one of the most appropriate trading methods. because we can measure trading movements every time it changes in one analysis. indeed it is not easy for us to determine the lowest point and the highest point so we must need the accuracy of the data that will help us to be better at trading forex.

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Horizontal lines

Horizontal Levels

Horizontal levels are one of the simplest strategies to make money in trading. It is one of the most use strategies in Forex trading. In this section you will know what Horizontal Levels are, how to draw them and how to use them.

What are Horizontal Levels?

A horizontal level is a horizontal line. This horizontal line can either be seen as a support line or a resistance line.

Most traders consider horizontal levels to be just as important as the price action, which is the core to trading. Analyzing the combination of the price change and the horizontal levels can easily lead us to understanding the trend and predicting where the market will go next. Horizontal levels is a very basic trading strategy, many famous and experienced traders such as Jesse Livermore, Warren Buffett, and George Soros have confirmed that they use it as a basis to many of their strategies.

Horizontal levels help us to identify key areas on a chart where a change in trend is likely to occur. This can be helpful for us when we are deciding where we want to exit a trade. Or when we want to enter a trade but don’t know the right time to do it. Timing precisely can be vital sometimes for some trading strategies. With a careful analysis of the horizontal levels it can help us to find the correct timing so that we can do a good trade. Keep in mind though that horizontal levels may be the foundation of many strategies but on its own it is usually not enough and therefore must be used in combination with other indicators.

Difference between a Horizontal Levels and a Trend line

The difference between a Horizontal line and a Trend line is the angel. Look at the two pictures to understand that fully.

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An example of a Trend Line

An example of a Horizontal line

How to make a profitable trade with Horizontal Levels

Usually before I enter a trade, I always draw a horizontal line and a trend line. After that I look at the price action bars. With those three element (horizontal level, trend line and price action bars) combined I pick a price point to enter the trade or to exit the trade.

For example if I see a stock price is about to go near the support level then I wait till it bounce back off the support level. Usually you can identify the bounce back by looking at the reversal price action bar. If there is no reversal bar to spot then most likely it will break through the support level. If that happens then most of time I stay away until I can clearly identify what the new trend is going to be. And if the price will go up near the resistance level then I will do the exactly the same thing what I do for when the price is going the support level.

Now what if you already own a security (stocks or currencies pairs and so on) what would you do?

When I already a security then I would draw a horizontal level and a Trend line. And look at the price action bars to pick a price point of where I should sell the security.

For example if I see a stock that I own goes down then I would sell it if it exceed my minimum lost ratio. I wouldn’t wait till it bounces back from the support line because you never know if it will bounce back.

And if I see a stock that I own is about too hit the resistance level then I would keep it. If it bounces back from the resistance level then I would sell the stock. However if I was in a CFD trading or option trading then I would sell before it hits the resistance level.

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