Scalping with Parabolic SAR and Fibonacci

Scalping with Parabolic SAR and Fibonacci

Fibnacci Retracement

ForexStrategiesResources

Apply 2 Parabolic SAR to a 1 min EUR/USD chart.

1st ones settings = 0.02 & 0.2

2nd ones settings = 0.005 & 0.05

I only trade EUR/USD since I get a 1.5 pip spread at .

I only trade from 4amEST-6amEST.

I only trade in the direction of the 0.005 & 0.05 PSAR.



LONG

When price breaks
up through the 0.02 & 0.2 PSAR you
draw a Fibonacci retracement

from the closest last significant low (before pirce broke
PSAR)

to the high of the bar that broke the PSAR.

This gives you your PROFIT TARGET at 161.8% Level

and your ENTRY ar 50% level

STOP = Last Signifcant low -2 Pips

SHORT

When price breaks down through the 0.02 & 0.2 PSAR you draw a Fibonacci
retracement

from the closest last significant high (before pirce broke PSAR)

to the low of the bar that broke the PSAR.

This gives you your PROFIT TARGET at 161.8% Level

and your ENTRY ar 50% level

STOP = Last Signifcant high +2 Pips

Scalping with Parabolic SAR and Fibonacci
Scalping with Parabolic SAR and Fibonacci

SIMPLE MM VARIATION.

LONG

When price breaks up through the 0.02 & 0.2 PSAR you draw a Fibonacci
retracement

from the last significant low (before pirce broke PSAR)

to the high of the bar that broke the PSAR.

This gives you your ENTRY @ 50%.

PROFIT TARGET = +9 Pips

STOP = -8 Pips

SHORT

When price breaks down through the 0.02 & 0.2 PSAR you draw a Fibonacci
retracement

from the last significant high (before pirce broke PSAR)

to the low of the bar that broke the PSAR.

This gives you your ENTRY @ 50%.

PROFIT TARGET = +9 Pips

STOP = -8 Pips

Share your opinion, can help everyone to understand the forex strategy.

  • Platform: Metatrader4
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • How to install MT4 indicator?
  • 1. On the desktop, double-click to open the MT4 trading platform software you installed.
  • 2. Click on “File” – “Open Data Folder” in the upper left corner, double-click the MQL4 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT4, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window

Related Articles

Responses

Your email address will not be published. Required fields are marked *