** To obtain a 30 days evaluation of Price Flip v4.6 robot, please go to https://sellfy.com/fxtigerfx . Once you download the evaluation copy, you will need credentials to authenticate it. I will send you the credentials via email. Please allow up to 8 hours to get the credentials as I do them manually. In the evaluation copy, there is a FULL PDF document that explains how to install the robot and all the features. It also includes some set files for different currency pairs that you can test via Strategy Tester.**
Price Flip is a price-action expert adviser. It identifies critical reversal points in any time frame (preferably M5 and above).
The strategy of the EA is based on a sound technical price reversals concept that is based on consecutive upward or downward bars, providing strong signs of possible fatigue/exhaustion in the instrument traded.
The EA when deployed on any currency pair looks for consecutive up or down bars (minimum of 2 is preferable) and then compares the next bar closing price to the previous candle.
There are mainly three modes of entry built into this EA
1. Pin Bars
2. Engulfing Candles
3. Combination (Pin Bars & Engulfing Candles)
We will first cover the Pin Bars
(1) EA BUY RULES (Pin Bars)
(2) EA SELL RULES (Pin Bars)
With regards to Engulfing Candles
(1) EA BUY RULES (Engulfing Candles)
(2) EA SELL RULES (Engulfing Candles)
EA Modes of Operation
Now this is the most interesting part. The expert adviser employs 3 different modes of operations to suit any kind of investor/trader. You can pick any mode you want from the expert adviser properties
1. Quick Stop Out Mode
The Quick Stop Out Mode is mainly used by traders who wants to get in and out of the market very quickly. Either the setup works or it doesn’t. In this mode, a Stop Loss is placed a certain number of pips away from the setup signal candle.
For Pin Bar Setups, the Stop Loss is placed a certain number of pips below the pin bar for a buy trade and a certain number of pips above the pin bar for a sell trade. The Stop Loss in pips is a field you can adjust in the EA settings.
For Engulfing Candles setups, the stop loss is placed a certain number of pips below a bullish engulfing candle in a buy trade and a certain number of pips above the bearish engulfing candle in a sell trade. The stop loss in pips is a field you can adjust in the EA settings.
Take Profit in the Quick Stop Out Mode is based on Risk: Reward.
For example, if you set a risk: reward of 1:1 and your stop loss is 30 pips, the EA automatically sets the take profit at (30 pips + spread) from the trade entry price. If you set the risk: reward as 1:5 and your stop loss is 30 pips, then your take profit will be 150 pips + spread.
Price Flip is a price-action expert adviser. It identifies critical reversal points in any time frame (preferably M5 and above).
The strategy of the EA is based on a sound technical price reversals concept that is based on consecutive upward or downward bars, providing strong signs of possible fatigue/exhaustion in the instrument traded.
The EA when deployed on any currency pair looks for consecutive up or down bars (minimum of 2 is preferable) and then compares the next bar closing price to the previous candle.
There are mainly three modes of entry built into this EA
1. Pin Bars
2. Engulfing Candles
3. Combination (Pin Bars & Engulfing Candles)
We will first cover the Pin Bars
(1) EA BUY RULES (Pin Bars)
- At least 2 consecutive downward candles (Number of candles can be adjusted in the EA settings)
- Difference between the low & close of the current candle (bottom wick) must be greater than the difference of the low & close (bottom wick) of the previous candle.
- Difference between the low & close of the current candle (bottom wick) must be at least 20% of the total size of the current candle (high to low). (The percentage can be adjusted in the EA settings)
- Trade is triggered at the open of the new candle following the candle that provided the setup signal.
- Stop Loss is placed a few pips below the low of the signal candle (SL in pips can be adjusted in the EA settings)
- Take Profit is set to at least 1:1 risk-reward ratio (You can set whatever risk:reward ratio in the EA settings)
- If you wish to go for higher risk-rewards ratios however, you can trail your trades with a stop that’s locking in profits at appropriate times (an exponential moving average is provided in the EA settings to achieve this)
- SL and TP will be addressed later
(2) EA SELL RULES (Pin Bars)
- At least 2 consecutive upward candles (Number of candles can be adjusted in the EA settings)
- Difference between the high & close of the current candle (top wick) must be greater than the difference of the high & close (top wick) of the previous candle.
- Difference between the high & close of the current candle (top wick) must be at least 20% of the total size of the current candle (low to high). (The percentage can be adjusted in the EA settings)
- Trade is triggered at the open of the new candle following the candle that provided the setup signal.
- Stop Loss is placed a few pips above the high of the signal candle (SL in pips can be adjusted in the EA settings)
- Take Profit is set to at least 1:1 risk-reward ratio (You can set whatever risk:reward ratio in the EA settings)
- If you wish to go for higher risk-rewards ratios however, you can trail your trades with a stop that’s locking in profits at appropriate times (an exponential moving average is provided in the EA settings to achieve this)
- SL and TP will be addressed later
With regards to Engulfing Candles
(1) EA BUY RULES (Engulfing Candles)
- Upon the close of each candle, the EA compares the open and close of the current candle to the entire body of the previous candle or candles (depending how many candles you want the EA to look back at.)
- If the current candle engulfs the previous candle(s) and is bullish, the EA will enter a buy trade.
- Stop Loss is placed a few pips below the low of the signal candle (SL in pips can be adjusted in the EA settings)
- Take Profit is set to at least 1:1 risk-reward ratio (You can set whatever risk:reward ratio in the EA settings)
- If you wish to go for higher risk-rewards ratios however, you can trail your trades with a stop that’s locking in profits at appropriate times (an exponential moving average is provided in the EA settings to achieve this)
(2) EA SELL RULES (Engulfing Candles)
- Upon the close of each candle, the EA compares the open and close of the current candle to the entire body of the previous candle or candles (depending how many candles you want the EA to look back at.)
- If the current candle engulfs the previous candle(s) and is bearish, the EA will enter a sell trade.
- Stop Loss is placed a few pips above the high of the signal candle (SL in pips can be adjusted in the EA settings)
- Take Profit is set to at least 1:1 risk-reward ratio (You can set whatever risk:reward ratio in the EA settings)
- If you wish to go for higher risk-rewards ratios however, you can trail your trades with a stop that’s locking in profits at appropriate times (an exponential moving average is provided in the EA settings to achieve this)
EA Modes of Operation
Now this is the most interesting part. The expert adviser employs 3 different modes of operations to suit any kind of investor/trader. You can pick any mode you want from the expert adviser properties
1. Quick Stop Out Mode
The Quick Stop Out Mode is mainly used by traders who wants to get in and out of the market very quickly. Either the setup works or it doesn’t. In this mode, a Stop Loss is placed a certain number of pips away from the setup signal candle.
For Pin Bar Setups, the Stop Loss is placed a certain number of pips below the pin bar for a buy trade and a certain number of pips above the pin bar for a sell trade. The Stop Loss in pips is a field you can adjust in the EA settings.
For Engulfing Candles setups, the stop loss is placed a certain number of pips below a bullish engulfing candle in a buy trade and a certain number of pips above the bearish engulfing candle in a sell trade. The stop loss in pips is a field you can adjust in the EA settings.
Take Profit in the Quick Stop Out Mode is based on Risk: Reward.
For example, if you set a risk: reward of 1:1 and your stop loss is 30 pips, the EA automatically sets the take profit at (30 pips + spread) from the trade entry price. If you set the risk: reward as 1:5 and your stop loss is 30 pips, then your take profit will be 150 pips + spread.