Trading ideas and algorithms using the system indicator LevelForecast
A bounce from a price level. The name of the trading idea speaks for itself. The entry into the market is carried out after a bounce and/or break out of the price level on the next bar regardless of the market situation.
- The entry is carried out after the opening of the second bar by a limit order on a price level.
- The order type used for entry is the limit order.
- A stop loss is set based on ATR data for the current time frame
- The take profit is 1:3 from the standard ATR value or until the next price level on the current time frame