Buy and Sell Forex Scalping Trading Strategy

The buy and sell forex trading strategy can be used to scalp the market for consistent profits. One of the selling points for this strategy is in its ability to accurately predict buy and sell opportunities in the market. The strategy combines two very potent technical studies, the FA and the emas custom indicators.

Chart Setup

MetaTrader4 Indicators: FA.ex4 (default setting), emas.ex4 (default setting)

Preferred Time Frame(s): 1-Minute, 5-Minutes

Recommended Trading Sessions: Any

Currency Pairs: Any low spread forex pair

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Buy Trade Example (Click the image for full size view)

buy-sell-forex-scalping-strategy

Fig. 1.0

Strategy

Long Entry Rules

Enter a buy in the market if the following conditions hold sway:

  1. If the Four Average custom indicator, also known as the FA indicator forms an upward pointing lime colored arrow that is aligned below price bars, while also displaying lime colored histogram aligned above the 0.00 level, it is a buy signal.
  2. The emas custom indicator on the other hand forms green vertical bars within its indicator window, a sign that price is being pressured upwards i.e. a bullish signal.

Stop Loss for Buy Entry: Place stop loss ~ 10 – 15 pips below entry price.

Exit Strategy/Take Profit for Buy Entry

The following rules or conditions will define our exit or take profit strategy:

  1. Watch out for the Four Average custom indicator, if it displays a red downward pointing arrow along with red histograms aligned below the 0.00 level, then it’s time to exit or take profit on position(s).
  2. If the emas custom indicator forms shorter orange bars within its indicator window, thus signaling a range bound market with the possibility of a breakout – it is wise to exit or take profit at this instance.

Sell Entry Rules

Enter a sell in the market if the following indicator or chart pattern are on display:

  1. If the Four Average custom indicator forms a red downward pointing arrow that is placed above price bars, while also displaying red histograms that are aligned below the 0.00 level, a sell signal is said to be active.
  2. The emas custom indicator is said to support a bears market when its vertical bars turns red as seen on Fig. 1.1.

Stop Loss for Sell Entry: Place stop loss ~ 10 – 15 pips above entry price.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit on position(s) if the conditions or rules are met:

  1. If the Four Average custom indicator displays a lime colored upward pointing arrow amidst an existing sell signal, while its histogram also changes color to green aligned above the 0.00 level, it is okay to exit or take profit on position(s).
  2. If the emas custom indicator forms orange colored shorter bars, it reveals weak volatility in the market or a range bound situation – an exit or take profit is appropriate.

buy-sell-forex-scalping-system

Fig. 1.1

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About The Trading Indicators

The FA.ex4 custom indicator is made up four important moving averages i.e. the SMA 200, SMA 21, SMA 114 and SMA 83. It combines arrows (red and lime), along with histograms (red and lime) in reporting sell and buy signals respectively.

The emas.ex4 custom indicator on the other hand uses the MA period 5, 10 & 20 as its core. Its red bars denotes a sell, while the green bars are indicative of a buy signal, while a more shorter orange bars define range bound conditions in the market.

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