Pitchfork Trading System MT4

Pitchfork Trading System MT4 is a strategy for which predicts the market trend with a good capacity is based on an instrument created by Andrew Pitchfork. You enter the market in the Pitchfork direction with the help of a fast moving average and the stochastic oscillator, but an experienced trader can also make these two financial indicators.

Time frame H1 or higher.

 Currency pairs: majors, minors and Indices.

Metatrader indicators

Pitchfork defauflt settings.

Fast moving averages arrow (3 and 5 periods).

Stochastic 2 B ( 10, 1, 2).

Stochastic oscillator (5,3,3, close).

 

Trading rules for Pitchfork Trading System MT4

Buy entry rules

Pitchfork indicator tilted upward wait the green arrow or that stochastic crosses upward.

Initial stop loss 15 pips or more below the entry bar.

Profit Target at the medium line of Pitchfork or ratio stop loss 1:15.

Sell entry rules

Initial stop loss 15 pips or more below the entry bar.

Pitchfork indicator tilted downward wait the red arrow or that stochastic crosses downward.

Profit Target at the medium line of Pitchfork or ratio stop loss 1:15.

To get more signals you can apply this template to 20 charts and to more time frames. The clearest signals are based on having a trend currency with Pitchfork tilted down or up. When Pitchfork is horizontal, do not trade. You can also use this technique looking for the concordance between two H1 H4, H4 D1, H1 D, D and weekly time frames, this type of multi-time frame analysis can generate more robust signals.

This tool that seems complex is easy to use and interpret because it adapts to the market slowly, so you have time to reflect.

 Learn to use this tool and you will be victorious in the financial markets. Pitchfork will almost always give you the right direction of the market.

In the pictures Pitchfork Trading System MT4 in action.

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