FREE FOREX STRATEGIES

Forex trading strategy #23 (Trading with Average Daily Range)


Submitted by Ipun

1- Close out any open position
2- Cancel any unexecuted orders
3- Set an Entry Buy order 1 pip above previous high
4- Set an Entry Sell order 1 pip below previous low
5- Set stops and limits using the following guidelines:

50 pip profit target, 25 pip stoploss if ADR Above 200
40 pip profit target, 20 pip stoploss if ADR BETWEEN 175 and 199
30 pip profit target, 15 pip stoploss if ADR BELOW 175

Do not trade if ADR is below 100

How to calculate ADR (Average Daily Range)

It may be easiest to use an excel spread sheet for this.
Take the H/L for each day. for the past 14 days.
For each day list the amount of pip's between the H and L

Ex. H=1.5623 L=1.5586
5623-5586 = 137
Add the total amount of pip's for all 14 days and divide it by 14.
This will give you the average daily range.

Forex Average Pips: 250-300/month.

Email: i_ipun[at]yahoo.com


http://forex-strategies-revealed.com/


Thanks for publishing my strategy.

Ipun :)

what time should i place and cancell orders thaNX

I JUST MADE COOL 50P ON DEMO LOOKS NICE, TIMI

Looks a lot like Stuart's Strategy!

Hi Ipun, how long have you used this strategy? How is the win percentage long term taking into consideration trending and non trending markets.

Thanks!

Alex Liu

At 5PM EST

HI IPUN.JUST WONDERING IF THE ADR INDICATOR IS LISTED IN METATRADER 4 PLATFORM, BECAUSE I DONT SEE IT IN MY MT4 PLATFORM, UNLESS ITS UNDER DIFFERENT NAME.THANX
THERE IS ONLY AVERAGE DIRECTIONAL MOVEMENT INDEX AND AVERAGE TRUE INDEX

I think 5am EST is better for myself

Alex Liu