Forex Stochastic MTF Scalping Strategy
Forex Stochastic MTF Scalping Strategy;
Direction: You need not worry what direction the long term trend is in for this method to work, it works regardless of long term trend direction.
Time Frames: either: 5/15, 15/30, 30/1H, 1H/4H
Entry:
Set a level line on your 5,3,3 stochastic at 61.8 and 38.2.
Your entry/exit is always with the smaller time frame.
The smaller time frame should be one step (one candle) a head of the longer time frame for the cross or one step behind…or exactly the same. This is optional if you are conservative and a common pattern. However, you do not want the longer time frame ahead more than one step of the shorter time frame.
On a long, whenever both tf’s cross or are above 61.8, buy long.
On a short, whenever both tf’s cross or are below 38.2 sell short.
You can add greater risk if the longer time frame is “near” the cross in the direction of your trade. The longer tf should be across 50 level. This may prolong your trade and could add some risk.
If you don’t have this correlation of the 2 time frames, you don’t have a trade. This is your filter mechanism.
Exits:
1. If the shorter time frame goes above 80 on a long or below 20 on a short, you definitely want to be out before it re-crosses 80/20.
2. If you nab some pips within 3 candles on the shorter time frame, you may want to exit.
3. If the longer time frame is looking like it will go above 80 on a long or below 20 on a short you may want to ride it out.
4. If the trend is with your trade you may want to stick it out…use a trend channel.
You will quickly notice an average pip gain, you may want to TP that.
An other option for exit is with predetermined Profit Target. Example: for 5-15 Time Frame is: 8 pips AUD/USD, 10 pips EUR/USD, 12 pips GBP/USD.
You need not worry what direction the long term trend is in for this method to work, it works regardless of long term trend direction.
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 Stochastic MTF Scalping Strategy?
- Download Forex Stochastic MTF 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 Stochastic MTF 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”.
