Daily Pivot Indicator makes you able to make 20 pip daily without any risk that is 100 pips in a week. And if you successfully follow the strategy then you can get success in forex world and you can become millionaire with forex trading. Read this full article to know, how you can make 20 pip daily on regular bases.
Table of Contents
What is Daily Pivot Indicator
Forex Daily Pivot point is indicator that use for finding the pivot point level and support, resistance levels. Daily Pivot point indicator provides us three support and three resistance levels including pivot point. This indicator is liable to customization, you can change colors of lines that suits on your chart. You also can turn on monthly and weekly pivot, support and resistance points to enhance your forex trading proficiency.
How to Install Daily Pivot Indicator
You can get this indicator for free, downloading button is given below. Download and extract this zip file of indicator and copy & paste these files into the relevant directory of metatrader 4. Path location to paste these files you can go to your metatrader 4 terminal > file menu > open data folder > MQL4 > Indicators and now paste files.
Daily pivot indicator is installed now you can apply on your chart from insert menu > Indicators > Custom and now select the installed indicator named as “EMAC Daily Pivot Indicator”. You will get dialog box on your screen, now you can turn on pivot, resistance and support points from “inputs” menu because by default it display’s only daily pivot point. And from color menu you can change your colors of support, resistance and pivot point lines. You also have option to choose time frames where you want to display these lines of indicator (recommended is check the box ‘all time frames’).
How to Make 20 Pip Daily
After installation of this indicator you can make 20 pip daily even you can make more. Most important thing is our recommendation for you before using on real account you should try this on demo account until you become expert. Below is the explanation in detail how you can make 20 pip daily with money management and excellent risk to reward ratio.
To enter in trade you need to notice, where is market price, means above the pivot point or below the pivot point. Now suppose market price in EUR USD pair is at 1.1050 and daily pivot point is at 1.1065. You should wait at this stage for the price to reach at 1.1065 (at pivot point). As the market touch pivot point 1.1065 level you should place order in opposite direction (means you will place sell order). In this trade your risk to reward ratio will be 1:2 that is best for successful trading. Set you TP for 10 pip and stop loss for 4 to 5 pip. Your will get your TP in this trade (90% chances), as my personal experience, doesn’t matter trend is bullish or bearish.
Note: Place trade only when market touches the pivot point level at first time.
After 1st successful trade you should wait for the market to cross the pivot point or reject from it clearly. If price crossed the pivot point you can place buy trade again for 10 pip with 4 to 5 pip stop loss. In this way you can make 20 pip very easily. And conditions for sell orders if market is downward and touches the pivot point from upside.
If you place order of 0.10 lot size you can make $20 daily with 20 pip in EUR/USD pair without any stress. You can become millionaire in 1 to 2 years of you follow this strategy. You also can use “EMAC Trading Plan Calculator” with this strategy to get success in forex world.