Price action is among the most popular trading concepts. A trader who knows how to use price action the right way can often improve his performance and his way of looking at charts significantly. However, there are still a lot of misunderstandings and half-truths circulating that confuse traders and set them up for failure.
Using PA Trend Reversal will be possible to identify high probability exhaustion moves of a trend.
⚠️ AVOID NEWS AND SPEECHES - most of the bad signals are during the news/speeches.
I suggest you using this on EURJPY M5 with Martingale Step1.
*Candles for Calculation = 2;
*Minimum body size of the previous candle (points) = 15;
Features
- The indicator gives alerts in real-time when the conditions are met.
- Round Number Filter (this is the basic price action).
- Volume Filter
Inputs
- Candles for calculation - How many candles do you want for the price action calculation.
- Maximum size of wick for current candle (use in points)
*Candles that have no wicks in the direction of the trend are the perfect trade but you can add a small wick like 10-30 points.
- Minimum body size of the current candle -Candles with big body size are recommended.
- Minimum body size of the previous candle -If the previous candle is smaller than XX points the signal is not valid. The bigger is the previous candle the better will be the signal.
- Candles to calculate high/low . Use this settings when you don't want to trade the signals on a flat market.
You can select the number of candles to look back and find the lowest/highest price.
Then you can get signals only at a distance of that lowest/highest price for the selected number of candles- Filter signal with Volume. Filter the signals.
*I recommend:
Big previous candle.
No breakout tries before the signal.
Strategy Trend Reversal Signals for Binary Options (Timeframe recommended: 5-15MIN)
- Alert comes in and the current candle is near a support/resistance or a RN (Round Number).
- Check the support/resistance line to see if it's a breakout.
- You enter with 5 seconds before the current candle closes.
- DO NOT trade during news.
Strategy Trend Reversal Signals For Forex (Timeframe recommend: 1H-4H)
- Alert comes in and the current candle is near a round number. If the candle close breaking out the round number or support/resistance, you can enter but with small lot.
- Check the round number or support/resistance line to see if it's a breakout.
- DO NOT trade during news.
⭐ How to maximize the winning ratio ?
Use the indicator with these inputs:
Candles for calculation = 5
Use the volume filter - JustVolumeSignals
TF - M5
Will be less signals but more accurate . especially on Binary Options .
