Forex Intraday Scalping Strategy
Forex Intraday Scalping Strategy:
1. THE CHART SETUP:
1.1 Charts & pairs:
1.1.1 5 min candle chart
1.2 Indicators on chart itself:
1.2.1 EMA = 10 & 21
1.2.2 SMA = 50
1.3 SMAangle window:
1.3.1 SMAangle indicator
1.3.2 21 EMA based on first indicator data overlaying this indicator (see Attachment A)
1.3.3 Put the following horizontal lines on the SMAangle indicator:
· 0.1, & -0.1, on the EURU$, GBPU$ & U$JPY pairs
· 0.15 & -0.15 on the EURJPY pair
· 0.4 & -0.4 on all 4 pairs
1.4 ADX window:
1.4.1 Open a ADX indicator in separate window set @ 13
1.4.2 Overlay it with an lsma 3 indicator from HelloDollie safe pips thread
2. THE TRADE CRITERIA:
Criterion 1: 50SMA angle to be more that 20 degree
2.1.1 It is a subjective measurement and it is not an accurate measurement.
2.1.2 It was used in the beginning of the thread) and we changed late to the 21MA on the
SMAangle indicator as a guide (as explained in Criterion 2).
2.1.3 But it is still very applicable for this system because the angle of the 50MA is the
main principle behind the system
Criterion 2: 21EMA on SMAangle indicator to cross the 0.1 or -0.1/0.15 or -0.15 line.
2.2.1 The area between the 0.1 and -0.1 lines is called the no-trade zone.
2.2.2 No trades to be taken if 21MA is in the no-trade zone.
Criterion 3: The price to pull back through 10EMA to 21EMA
2.3.1 The area between 10MA & 21MA is called the fire or war zone
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 Intraday Scalping Strategy?
- Download Forex Intraday 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 Intraday 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”.
