Forex 123 Pattern Day Scalping Strategy
Forex 123 Pattern Day Scalping Strategy:
123 Pattern Day Trader is a breakout trend following strategy based on the 123 pattern and day signal ultra as filter trend. This a profitable trading system.
This trading system works a the 5 min , 15min and 30 min time frame.
Currency pairs majors with low spreads.
Day open line,
Day signal ultra filter trend,
Day bar (ADX 14 period and Parabolic Sar 0.2 -0.02),
Day look (12, 26, 9),
Day explosion multi time frame 5min set 15 min, 15 min set. 30 min, 30 min set 60 (sensitive 150 period).
123 pattern V6 (12, 0.4, 1.0 or more aggressive 6, 0.4, 1.0).
Rules for day trader breakout
Trades only in the direction of the trend.
Up trend: price above white dots of Day signal ultra indicator.
Down trend: price below red dots of Day signal ultra indicator.
Buy
123 pattern V6 buy arrow.
Day signal ultra white dot.
Day look white bar.
Day explosion white bar above moving average.
Initial stop loss 5-10 pips below the signal bar depends by time frame.
Profit target 5 min (7- 12 pips, 15 min 8-15 pips, 30 min 15- 25 pips) but with less profitability you can use also an trailing stop for to have a great gain.
Sell
123 pattern V6 sell arrow.
Day signal ultra red dot.
Day look white bar.
Day explosion red bar above moving average.
Initial stop loss 5-10 pips below the signal bar depends by time frame.
Profit target 5 min (7- 12 pips, 15 min 8-15 pips, 30 min 15- 25 pips) but with less profittability you can use also an trailing stop for to have a great gain.
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
Forex Metatrader 4 Trading Platform:
- Free $30 To Start Trading Instantly
- No Deposit Required
- Automatically Credited To Your Account
- No Hidden Terms
How to install Forex 123 Pattern Day Scalping Strategy?
- Download Forex 123 Pattern Day Scalping Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Load indicator on your chart
How to uninstall Forex 123 Pattern Day Scalping Strategy?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.
