Simple trading Idea using Pivots

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I am using a simple yet very profitable system based from Pivot Points

trade entry rules

send pending buys at S1 , S2

send pending sells at R1 , R2

s1 stop loss at s2 ( 1 lot order )

s2 stop loss at s3 ( 2 lot order )

and the same goes goes for the pending sells

take profit should be at the previous pivot level

All pending orders should be sent at london open , so time filter would be great

would appreciate if someone can make EA for this with trailling stop loss option, this rules only suitable for EURO

and its stick to the rules of Pivot most of the time

 

indicator

this is the pivot indicator that i use

Files:
autopivotindicator.ex4  12 kb
 

Thanks, good　idea.

Which broker do you use?

PIVOT level is different.

 
moto123:
Thanks, good　idea.

Which broker do you use?

PIVOT level is different.

i use Iamfx as a broker, but i believe it works for others too

 

tx for this idea..

The orther day I read this thread about how useless indicators are which tells us what to do..

And this guy told us to just use our chart en see the price levels of resistance and support on the daily, and buy on support en sell on resistance. Basically this is what you do!

I will give it a look. tx so far..

send pending buys at S1 , S2

send pending sells at R1 , R2

This means exactly the price of the pivot point?

Is there a moment when orders are not triggered when you decide to remove the pending orders?

How long have you been using this strategy, and please tell something about your experiences with it.

Some pictures, and results, so I can look how to use money mangement the right way for this strat.

Tx for sharing!

greetings,

Jonkie76

 

Has anuone of you used this system? I appreciate if you can show your statements here. I think that not all brokers allow such technique.

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