Forex 5 Minute Trendline Scalping Strategy
Forex 5 Minute Trendline Scalping Strategy:
5 minute trendline scalping is a simple trend line breakout method with Metatrader 4 Indicators. In other words this also an high/low scalping breakout.
Time frame 5 min or higher.
Currency pairs: GBP/JPY, GBP/USD, USD/JPY, EUR/USD.
Sessions: London and New York.
This method is also good for trading with Binary options high/low:
expiry time 2-3 candles or 2-3 min with time frame 5 min.
5 minute trend line scalping is also good with renko chart
Metatrader Indicators:
Coral 15 period;
AMA 11 period, , n slow 34;
Gann Zig Zag with range 1 period;
MT 4 Trend line
5 minute trend line scalping trading rules
Buy
Trend line up trend (angle up)
Coral aqua color.
AMA indicator green dot.
Place a pending order 1 pip above the last high.
Sell
Trend line down trend (angle down)
Coral magenta color.
Place a pending order 1 pip below the last low.
Place initial stop above/below the dot of ama indicator.
Fast profit target (5-10 pips) depends by currency pairs.
This is a discretionary strategy and requires experience in order management.
The key to this scalping strategy is to know trades with a good angle of the trend line.
This trading technique can give satisfaction is winning.
The estimated time to learn this technique on demo account is about 4-6 weeks.
It is advisable to start practicing with higher time frames.
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.
How to install Forex 5 Minute Trendline Scalping Strategy?
- Download Forex 5 Minute Trendline 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 5 Minute Trendline 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”.
