JackPot Elite Strategy is a Scalping Strategy MT4 that is free to download. When it comes to trading, many strategies employ a combination of multiple indicators to provide the trader with a clear picture of market conditions. One such strategy is the JackPot Elite Strategy. This unique approach uses an amalgamation of indicators, culminating in a non-repaint buy-sell arrow indicator that ensures a trader makes decisions based on solid technical grounds.

The most distinguishing feature of the JackPot Strategy is its non-repaint buy-sell arrow indicator. This ensures that once a trading signal is provided, it remains fixed and doesn’t change after the fact, giving traders confidence in their decisions.

Indicators Used in JackPot Elite

Bollinger Bands

Bollinger Bands provides information about price volatility. With a longer period setting, such as 200, the bands can offer insight into longer-term price movements and potential points of price reversals. When prices touch the upper band, it might signal overbought conditions, while touching the lower band might indicate oversold conditions.

Ichimoku Kinko Hyo

Commonly referred to as the Ichimoku Cloud, this indicator provides an all-in-one glance at support and resistance levels, momentum, and market direction. The various components of the Ichimoku can help traders identify potential breakout or breakdown scenarios.

Color Changing EMA 50 and 100

The Exponential Moving Average (EMA) is a popular tool for determining the general trend direction over a certain number of periods. The JPS Elite uses two EMAs: 50 and 100. The color change function adds an intuitive layer, allowing traders to quickly discern bullish from bearish conditions.

Market Open Price Indicator

This additional tool provides information on the market open price for various time frames: daily, weekly, monthly, and yearly. Understanding these opening prices clearly can help traders gauge momentum and set trade benchmarks.

This JackPot Elite Strategy can give you trading signals you can take as they are or add your additional chart analysis to filter the signals further, which is recommended. While traders of all experience levels can use this system, practicing trading on an MT4 demo account can be beneficial until you become consistent and confident enough to go live.

This JackPot Strategy is entirely manual. The indicators produce the signals, but any decisions to enter the market and set protection or profitable exit stops will depend on the trader. Therefore, the trader must be familiar with the principles of risk and reward and use initial support and resistance areas to set entries and exits.

You can set the JackPot Elite Indicator to send you a signal alert via Mobile Notification or platform pop-ups. This is helpful as it means you do not need to stare at the charts all day, waiting for signals to appear, and you can monitor multiple charts simultaneously.

Strategy MT4 can be used on any Forex currency pair and other assets such as stocks, commodities, cryptos, precious metals, oil, gas, etc. You can also use it on any time frame that suits you best, But it works best lower TimeFrame.

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Trading Rules for this Strategy MT4

While the Jackpot Elite Strategy is primarily technical, it’s wise to be aware of fundamental news events. High-impact news can significantly affect the market.

As always, proper money management is key to achieving good results. To be a profitable trader, you must master discipline, emotions, and psychology. It is crucial to know when and when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility, beyond major sessions, exotic currency pairs, wider spread, etc.

Buy (Long) Trades

• The arrow should be green, indicating a buy signal.
• Price should touch or be near the bottom Bollinger band, hinting at potential upward movement.
• The color-changing EMA 50 and EMA 100 should turn green, indicating bullish momentum. (Crossing of two EMAs is also a plus.)

Sell (Short) Rules

• The arrow should be red, indicating a sell signal.
• Price should touch or be near the top Bollinger band, hinting at potential downward movement.
• The color-changing EMA 50 and EMA 100 should turn red, indicating bearish momentum. (Crossing of two EMAs is also a plus.)

Take Profit (TP) and Stop Loss (SL)

• Take Profit: Depending on the trader’s risk-to-reward ratio, the TP can be set at a significant resistance (for buy trades) or support (for sell trades) level or at a specific number of pips for JPS Elite.
• Stop Loss: Set the SL at the most recent swing low (for buy trades) or swing high (for sell trades). Another strategy is to use the Bollinger Bands as a reference point.

Exit Rules

• An opposite arrow appears, signaling a potential change in trend or pullback.
• Other technical indicators show signs of the opposite market sentiment (bearish/bullish)

Additional Notes

• Always check higher timeframes for trend confirmation. It provides a broader trend context.
• Never risk more than 1-2% of your trading capital on a single trade. It ensures longevity in the trading world.
• Only trade when all your criteria are met. Patience is vital.

Updated on 2024/08/25

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Conclusion

The JackPot Elite Strategy MT4 is a manual scalping method utilizing multiple indicators, including a consistent non-repaint buy-sell arrow. It combines tools like Bollinger Bands and the Ichimoku Cloud to provide clear trading signals. While versatile across assets and timeframes, its best performance is on lower timeframes. Traders are advised to consider market news, manage risk wisely, and remain disciplined for optimal outcomes.