Forex Price Trigger Scalping Strategy
Forex Price Trigger Scalping Strategy:
Time Frame 5min
Pairs:EUR/USD, GBP/USD, AUD/USD.
SHORT ENTRY
If Price trigger == (-1) and the candle above the trigger opens BELOW the orange volatility pivot you enter SHORT.
This condition is enclosed in the box labeled A on the illustration below.
LONG ENTRY
If Price trigger == (1) and the candle above the trigger opens ABOVE the orange volatility pivot you enter LONG.
This condition is enclosed in the box labeled B,C & D on the illustration above.
EXIT RULES
I have spotted 2 (or actually 3) EXIT scenarios:
1. Exit at the opposite Price Trigger Signal (see box B)
2. Trail your STOP LOSS using the value of the Volatility Pivot indicator (see box C where the LOW wick of the last candle in the box crosses the Volatility Pivot)
3. Exit when a candle closes with an opposite nonlagdot (for example: if we go LONG we wait for a candle to close with a RED nonlagdot, if we go SHORT we wait for a closed candle with a BLUE nonlagdot.
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 Price Trigger Scalping Strategy?
- Download Forex Price Trigger 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 Price Trigger 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”.
