MT5 Forecast System

MT5 Forecast System

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+++ Link to EURUSD Only Free Version --> https://www.mql5.com/en/market/product/156904?source=Unknown

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Hallo Trader,

This is a traditional GANN & FIBONACCI strategy based on detection of an impulsive move in the opposite direction. This is called a Breakout.

At the moment of Breakout, the indicator draws three target levels and a retrace level.

Optimal Trade Entry is at Retrace Level.

The key of the system is the detection of the breakout bar indicated in green/blue (UP) or red (DOWN).

Please use the proposed stoploss for calculating your risk.

Engaging at retrace level is recommended. However this level is not always triggered.
Depending on the momentum of the move at breakout... a position can be opened immediately.
Engaging at retrace level bewares from common mistakes: buying into resistance and selling into support.
The breakout can also be a reversal moment... please evaluate the situation at the higher timeframes (H4/H1) to validate the trade.
Important: Once a target has been triggered... the breakout level becomes support/resistance.

System works for every forex pair and timeframe (period).

For scalping (short trades - close when profit): I trade M5 with entries on M1 (see screenshot).

Includes pop-up alerts and smartphone notifications.

Please private message me for any question, additional guidance & extra indicators that I use.

Do not hesitate to get familiar with the system in using the EURUSD only version under the link.

Happy Trading to You! Peter