18# Inside Bar System II Forex Trading System

Submit by joy22

 

Time frame daily

Pairs:all.

Long Entry

• 21 SMA must be trending up and not flat.

• An inside bar must form.

• Place a buy order 5 pips +spread above the top of the inside bar.

• Place the required stop depending on the currency pair (see stop values)

• Place a take profit of twice the amount of the stop.

• Do not remove trade until either the entry is triggered or the 21 SMA

changes to a down direction.

Short Entry

• 21 SMA must be trending down and not flat.

• An inside bar must form.

• Place a sell order 5 pips +spread below the bottom of the inside bar.

• Place the required stop depending on the currency pair (see stop values)

• Place a take profit of twice the amount of the stop.

• Do not remove trade until either the entry is triggered or the 21 SMA

changes to an up direction.



Forex metatrader indicator: Inside Bar

Forex metatrader indicator: Inside Bar
Forex metatrader indicator: Inside Bar is a pattern of the price formed by two bars.
InsideBars.rar
compressed file archive 1010 Bytes

we have two trade setups on the GBP/JPY, the 21 SMA is in

a clear down trend with no signs of turning flat. On the Friday an inside bar

formed and we placed our entry 5 pips below the bar with a 100 pip stop and a

200 pip profit target. 4 days passed with no market movement before our entry

was finally triggered taking us into profit almost immediately. Our take profit was

hit two days later with a profit of 200 pips.

The second trade was far more exciting triggering our order into the market the

very next day and hitting our profit target the following Monday with another

200 pips profit

 

 

2 in example #2 we have another 2 good examples of this system in action

on the EUR/USD, both inside bars formed with the 21 SMA sloping up indicating

we can only take buy trades. The first trade was looking a little grim as it

retraced against us after the entry day but it eventually hit our profit target of

100 pips 5 days later. The second trade shot into profit straight away and hit

our profit target the very next day.

 

 

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