Trending strategy Pitchfork Trading System

Trending strategy Pitchfork Trading System - is a system based on trend prediction with high efficiency, based on an indicator authored by Andrew Pitchfork.

To enter the market is carried out in the direction of the Pitchfork indicator with a fast moving average or Stochastic oscillator. You can use any method you choose, but experienced traders can combine their readings for more accurate entries.

Input parameters

• Currency pairs: any, indexes, stocks, metals, cryptocurrencies
• Timeframe: H1 and higher
• Bidding time: London, New York.
• Risk management: after calculating the stop-loss, choose this lot sizeto risk no more than 2-5% of the deposit per transaction

Used indicators

• Pitchfork (default setting)
• Fast moving averages arrow (period 3 and 5)
• Stochastic 2 B (10, 1, 2)
• Stochastic oscillator (5,3,3, close)

Setting up the price chart

• Unpack the archive
• Copy the template into the templates folder
• Copy the indicators to the folder MQL4 -> indicators
• Restarting the terminal
• Open the chart of the desired currency pair
• Install a template named Pitchfork Trading System

The schedule should look like this:

Signals indicating the opening of a long position (buying)

• The red lines of the Pitchfork indicator point upwards;
• A green up arrow appears or the red and white Stochastic line crosses the black line from the bottom up.

Signals indicating the opening of a short position (sale)

• The red lines of the Pitchfork indicator point downward;
• A red down arrow appears or the red and white Stochastic line crosses the black line from top to bottom.

Setting Take Profit and Stop Loss Orders

• Take Profit Order is set near the middle line of the Pitchfork indicator;
• Stop Loss Order is set in relation to the Take Profit as 1:1.25.

Recommendations of the author of the strategy

• To get more trading signals, you can set up a strategy template for 20 currency pairs and timeframes. The most accurate signals will coincide on all timeframes.
• If the Pitchfork indicator lines are directed horizontally, it is not recommended to open trades.

Before using Pitchfork Trading System trend strategy If you have a real deposit, be sure to test it on a demo account.

Download Pitchfork Trading System template and indicators

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