This is a simple strategy based on standard MetaTrader indicators. Daily profit potential is about 30-50 points. The system works well on pairs with the U.S. dollar, such as GBPUSD, EURUSD, AUDUSD, USDJPY. Trading time is the beginning of the European and American sessions. Additional indicators can be used to identify support and resistance levels.The chart M15 is used for trading on this system. Work begins at 9:00 GMT for the European session and at 9:00 East-American for the American session. The chart shows vertical lines at 7:00 and 9:00. Then horizontal lines are drawn on the minimum and maximum for this period. A pending Buy Stop order with a stop loss is placed at the upper level. At the lower level there is a pending Sell Stop order with a stop loss at the upper level. To simplify the process, an indicator has been created, which allocates the necessary period. It just needs to be set to local timeHere is a chart with such an indicator. When placing orders, set Take Profit and Stop Loss immediately. Take Profit is determined based on the width of the range, which formed 9 candles in 2 hours. If the range is small, then the target is 50 points, but if the width reaches 50-60 points, you have to put a takeprofit about 30 points. It is also possible to use a trailing stop of 15 points. The Buy Stop order and Take Profit of 50 pips have been triggered on this chartThe second chart shows the range width of about 50 pips, Sell Stop order and Take Profit of 30 pipsOf course, trading is not always successful. In this case, a buy order has been triggered, but the price has not reached the Take Profit level and has gone down. The result was a stop. Since the range is wide, the loss is about 50 pips. If a trailing stop had been set, the loss would have been minimal or zero. When trading with this system, you should take into account that you cannot trade if the range is wider than 60 pips. In this case, the price may go beyond the range, and then return to the range, causing losses. In addition, it is necessary to pay attention to the proximity of important resistance and support levels when installing Take Profit. You don’t have to set exactly 30 or 50 points.Download indicatorsDownload template
01 Nov