*** Forex system - Follow the bouncing pips

Indicators:

MFI (Money Flow Index) with 80/20 settings.

Zigzag

I have 3 charts set up. A 30M, 1HR & 4HR.

Forex system - Follow the bouncing pips

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So as you can see I look for confirmation on all 3 charts. You can always take it off the 1Hr if you like but I prefer the 4 HR. When you see all 3 its a super strong indicator that it will go in that direction. Thats how I trade it. Simple & straight forward.

As for exits & stoploss. To make it simple if you use a 1HR GBP/JPY I reccomend at least 75 pip SL. on the 4 HR a 200 pip SL. As for exits you can use the next signal or a profit point of your choosing. As for me I use the MFI to see how close its being overbought/oversold, look for upcoming news that my affect your trade & to make sure my risk reward is at least 2-1. Never risk more that what you will gain. Put bluntly its stupid.

Indicators Setting :

Non Lag Zigzag : Price 0 , Length 100, PctFilter 2.0

Zigzag Pointer : ExtDepth 100, ExtDeviation 75, ExtBackstep 15