forex software

Create and Test Forex Strategies


trading:al-brooks-high-low

Al Brooks High/Low 1, 2, 3, 4

Al Brooks is trading E-mini S&P500 futures on 5-minute Chart. The only indicator on his chart is a 20-period EMA. His trading style is based on simple price action principles. The basic set ups he uses are the High 1-4 and Low 1-4.

High 1 , 2, 3, or 4 - A High 1 is a bar with a high above the prior bar in a correction in an up or sideways market. If there is then a bar with a Lower High (it can occur one or several bars later), the next bar in this correction whose high is above the prior bar's high is a High 2. Third and fourth occurrences are a High 3 and 4. There are other variations as well.

Low 1 , 2, 3, or 4 - A Low 1 is a bar with a low below the prior bar in a correction in a down or sideways market. If there is then a bar with a Higher Low (it can occur one or several bars later), the next bar in this correction whose low is below the prior bar's low is a Low 2. Third and fourth occurrences are a Low 3 and 4. There are other variations as well.

Al Brooks buy above the top of the High 1-4 bar in an uptrend, and sells below the bottom of a Low 1-4 in a downtrend.

High 1, 2

Low 1,2