The strategy for trading in the Forex market The Bat (Bat) is based on a specially developed indicator ATR__the_bat, which is a kind of indicator ATR. The strategy is designed for medium-term trade and is quite easy to use. The ratio of profitable to loss-making trades is very good. The system is used for trading on the main currency pairs EUR/USD, GBP/USD, USD/JPY. In addition to the main indicator, the Fibonacci Lines indicator is used. It is recommended to trade on the timeframe 1H. For more clarity in the Fibonacci properties we change the description of levels: – level 0 – description “U-turn” – 0.382 – description “38.2 – 2 lots” – 0.618 – description “61.8 – 1 lot” – 1 – description “Entry – 1 lot” – 1.618 – description “161.8 – 1 lot
Additional levels of Take Profit can be set at 1.238 and 1.382 to determine take-profit levels
This figure shows you the logon situation for your purchases. After the blue line of the indicator ATR__the_bat rose above the red line, pull the Fibonacci grid from the last minimum to the red line. At the red line level, we place a Buystop order. Close this order at 161.8 or when a new red line appears. The stop-loss is set at 10 points below the zero Fibonacci level.
This is the easiest option when the price moves in one direction. But there are situations when the price rolls back after the red line is broken through. For this purpose, the system provides installation of pending buy or sell orders
In case of purchase, we set Buylimit orders. The first order of 1 lot is set at 61.8, the second order of 2 lots at 38.2. Lot is a conventional unit, which is calculated depending on the amount of deposit and management. The take-profit of these orders is also set at 161.8. As the price progresses, the stop moves on Fibonacci levels, but below each level by 10 points
When you enter the sales market, the actions are the same. Chelstori Selllimit orders are only set. If pending orders are triggered on rollbacks, take profit for them can be set at additional Fibonacci levels 1.238 and 1.382.
Many traders use this system for intraday trading on chart M15. It is reported that the ratio of profitable to unprofitable deals on this strategy is approximately 60 to 10.