Price Trigger Signal
Submit by ForexStrategiesResources
Time Frame 5min
Pairs:EUR/USD, GBP/USD, AUD/USD.
SHORT ENTRY
If Price trigger == (-1) and the candle above the trigger opens BELOW the orange volatility pivot you enter SHORT.
This condition is enclosed in the box labeled A on the illustration below.
LONG ENTRY
If Price trigger == (1) and the candle above the trigger opens ABOVE the orange volatility pivot you enter LONG.
This condition is enclosed in the box labeled B,C & D on the illustration above.
EXIT RULES
I have spotted 2 (or actually 3) EXIT scenarios:
1. Exit at the opposite Price Trigger Signal (see box B)
2. Trail your STOP LOSS using the value of the Volatility Pivotindicator (see box C where the LOW wick of the last candle in the box crosses the Volatility Pivot)
3. Exit when a candle closes with an opposite nonlagdot (for example: if we go LONG we wait for a candle to close with a RED nonlagdot, if we go SHORT we wait for a closed candle with a BLUE nonlagdot.
In the pictures below Volatility Pivot Points Levels in action.
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