Effective strategy Fishing on Forex

Trade strategies such as TC Fishing are naturally in demand in the Forex market. Together with indicators, they allow you to significantly simplify the trading process, as well as assess the efficiency of your work by using a preliminary test on a tester or demo account. This strategy forex trading is one of the most effective options for increasing the deposit, which, importantly, is freely available.

 

Initially, the TS was available free of charge and spread widely on network resources. As for the principle of forex trade system, it is based on a breakdown of the trend line, which is built using the values of local extremes. In the vast majority of cases, extremes are levels of support and resistance of symmetrical triangles and wedges - such Price Action patterns are not uncommon on quotation charts. If you want, you can use any other option to find lines to break, the main thing is that the trend should be short-term.

 

The original name of Fishing 's strategy forex trading was obtained by analogy of profit generation from Forex market, as fish from water basin.

 

The used indicators

This strategy will require the following Forex indicators:

 

1. Fishingind - it is used to provide primary signals, which are understood to be a sample of important levels passing through fractals. The indicator has open settings, which the user can change in his or her taste. The following primary variables are important to the Fishing strategy:

 

Otstup - here you specify the distance between the price and the breakdown line, indicated in the points - the so-called step.

Kolshow is a period parameter for calculating fractal markings.

Lineup and Linedwn - specify the colors of the indicator lines, respectively, when the trend is up and down - the colors blue and red are used by default.

2. Alex_Activity - this indicator is necessary for pulse strength analysis - such analysis is carried out by calculating the price change force that occurred during the last few Japanese candles. Number of candles used for calculation is specified on this indicator.

 

Forex Fishing strategy indicators need to be placed on the price chart of the selected asset to obtain a terminal of the following kind:

 

In the course of trading it is necessary to take into account volatility of currency pair and to select under it parameters of indicators - individual adjustment of parameters for each pair is not final, from time to time it is necessary to optimize selected parameters in accordance with changes in market.

 

Algorithm of the conclusion of transactions

The Forex Fishing Strategy Trader should monitor the appearance of signals characteristic of the formation of optimal entry conditions, which are the following points:

 

The candle punches the Fishingind indicator line and closes on the other side.

The histogram Alex_Activity shows a high column that extends beyond the signal level.

 

This situation suggests that the price movement is strong enough for the trend to develop further. The strength of the price pulse is confirmed by the growth of the histogram column. The combination of these factors is the basis for entering the market. In other words, the basis of the Fishing strategy is to enter the market during the breakdown of the trend line, provided that the signal strength is confirmed by the growth of the histogram.

 

In case the price breaks the Fishingind indicator line, but before closing the candle is rolled back under the inclined line, the signal has no force - it is impractical to enter the market.

 

On the basis of the Fishing forex trade system, a semi-automatic advisor Forex was created, which independently issues transactions when the above-mentioned conditions are met.

 

Market Exit Conditions

When putting a position in accordance with the terms of the strategy forex trading Fishing is necessarily put up and Stop Loss - at the level of the previous extremum with fractal. With regard to closing current transactions, the following options are possible:

 

Half of the item is closed after the Alex_Activity indicator reaches an additional extreme level. The second half of the item is transferred to the break-even and closed. Such an option is most optimal in manual trading according to the Fishing strategy, as it allows to minimize losses, which is important for efficient operation of any forex trade system.

By adding a moving average to the chart, we close the position after crossing the line in the opposite direction by the price.

Add a CCI indicator to the terminal and leave the market after the indicator flips.

When bidding with Fishingbot advisor, positions are closed when the price reaches certain extreme levels.

By choosing to trade on the strategy of Fishing on Forex with the help of a Fishingbot advisor, you can choose any of these options. You can use Open Item Stop Routing to do one of the following:

 

Use of nearby fractals.

Use of the ATR indicator.

Use of the averages sliding.

The transaction closes when the profit reaches the specified number of points.

It will not be possible to test the Fishing strategy on the simulator, because the Fishingind indicator does not save the history of the marking, but only shows the current signals. Therefore, in order to make sure that this vehicle is profitable, it will be necessary to put an adviser on the demo account and assess further developments.

 

Such a vehicle can be used on any trading instruments, but it shows the best results on those currency pairs that have long trend movements. This is due to the generation of a signal to enter the market based on corrective movements, which are a precursor to the trend reversal or its continuation.

 

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