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26# Pivots Swing System

Daily Pivots Trading

 Submit by FreddyFx 19/12/2013

 

The pivots swing trading system is based on trending price action, where decision to enter or exit the forex market is made when the current price candles is “near” the PIPS Weekly Pivot.
The pivots swing trading system, use the following charts:

A weeklee charts with 13-26, and 52 moving average lines, pips weekly pivot and snake indicator.

 

Daily chart with 10-40-89 and 144 day moving average.

Custom indicators required

pips weekly pivot

snake force indicator.

 

The advantage of the pivots swing system are:

  1. it enable ous enter swing trails with minimal monitoring of the monitor as pending order;

  2. the stop loss and the target profit are adjustated on a weekly basis;

  3. the setup for entries and exits are easy;

  4. iy is based on trending price action.

    Rules for Pivots Swing Trading System

    Identify the major trend from the weekly chart by using 3 moving average lines, the MACD and the Stochastic indicator:

    for major up-trend, the 3 moving average should be trending up trend MACD and stochastic crosses upward;

    for major down-trend, the 3 moving averages should be trending down trend MACD and stochastic crosses downward.

    Identify the major trend from the daily chart by using moving averages lines,

    10>40>89>144 trenp-up and 10<40<89<144 trend dow.

 

Long entry

Both the weekly and daily chart must indicate the same major up-trend.

The weekly pivots must act as a support.

The snake indicator must indicate a bullish momentum (thick green).

Enter on the third snake bullish (thick green) bar by using previous day's high as the price for buy stop order.

Both initial stop loss and target to be entered as on OCD order..

during the fast week of the trade, the recommended stop loss is palced of 50-80 pips below the entry price, while the initial profit target is placed at 300 pips above the entry price ( for GBP/USD, RUR/JPY and GBP/JPY the initial target profit is 500 pips).

The stop loss and protective stop orders are to remain there until the beginning of the second week.

 

Short Entry

Both the weekly and daily chart must indicate the same major up-trend.

The weekly pivots must act as a resistance.

The snake indicator must indicate a bearish momentum (thick red).

Enter on the third snake bearish (thick red) bar by using previous day's low as the price for sell stop order.

Both initial stop loss and target to be entered as on OCD order..

During the first week of the trade, the recommended stop loss is palced of 50-80 pips above the entry price, while the initial profit target is placed at 300 pips below the entry price ( for GBP/USD, RUR/JPY and GBP/JPY the initial target profit is 500 pips).

The stop loss and protective stop orders are to remain there until the beginning of the second week.

 

GRBB indicator = Snake indicator.

Pivots Swing System (template and Indicators)
Daily Pivots Trading
pivot swing system.rar
compressed file archive 32.0 KB