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Forex MA Flag and Pennant Patterns Price Action Trading Strategy (7196)


High accuracy “MA Flag and Pennant Patterns Price Action Trading Strategy” – Flag and Pennant Patterns trading is one of those strategies out there that just simply works.

These Flag and Pennant patterns are seen as the market potentially just taking a “breather” after a big move before continuing its primary trend.

  • Time Frame: M15, H4, and D1
  • Currency Pairs: Any

 

MetaTrader Trading Indicators
  • Moving Average
  • WPR

 

How to install “Forex MA Flag and Pennant Patterns Price Action Trading System”
  • Download TraderVersity.Com-FlagPennantPatternsSystem (Zip File)
  • Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators /
  • Copy the “TraderVersity.Com-FlagPennantPatternsSystem.tpl” file (template) to your Metatrader Directory …/templates /
  • Start or restart your Metatrader Client
  • Select Chart and Timeframe where you want to test your forex system
  • Right click on your trading chart and hover on “Template”
  • Move right to select TraderVersity.Com-FlagPennantPatternsSystem
  • You will see “Forex MA Flag and Pennant Patterns Price Action Trading System” is available on your Chart

 

BUY Rules

Trading NOTES

DOWNLOAD INDICATOR


  • Price should be above the EMAs
  • Moving Average: The EMAs should be stacked in the following order:
    • 14 EMA: top
    • 50 EMA: middle
    • 200 EMA: bottom
    • Wait for price to retrace between the 14 & 50 EMA
    • A flag or pennant pattern should be identifiable
    • Wait for the close of the candle which breaks out of the resistance line
    • Enter a BUY market order at the close of the breakout candle
  • WPR: Above the level -45 line

 

SELL Rules

  • Price should be below the EMAs
  • Moving Average: The EMAs should be stacked in the following order:
    • 200 EMA: top
    • 50 EMA: middle
    • 14 EMA: bottom
    • Wait for price to retrace between the 14 & 50 EMA
    • A flag or pennant pattern should be identifiable
    • Wait for the close of the candle which breaks out of the support line
    • Enter a SELL market order at the close of the breakout candle
  • WPR: Below the level -55 line

 

Trading NOTES

I noticed these Flag and Pennant patterns works only when the market is calm, but you can lose a lot

  1. during increased volatility and
  2. during the Asian session as there are a lot of false breakouts.

The ideal time periods for these instruments are 15min and 4 hours. As for the 4-H time frame, the flag appears very rarely but the profit is huge! But if you use 15-min, you can trade 2-3 times a day. It is nice too.

DOWNLOAD TRADING SYSTEM


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One comment

  1. where is download link???
    i could not find link

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