The 1-minute Forex pips scalping strategy for the NZD/CHF currency pair is designed to yield recurring fast small profits.
These small scalping profits will overtime accumulate into substantial long-term gains.
The simple combination of the Alligator and Trend Linear Reg MT4 indicators ensures that trading on the 1-minute chart is easy and profitable.
The ability to enjoy the same results when deploying this M1 scalping strategy on other forex pairs as well is what makes this system very interesting to learn.
MetaTrader4 Indicators: Alligator.ex4 (Parameters Modified; Jaws period=18, Teeth period=13, Lips period=10), TrendLinearReg.ex4 (Inputs Variable Modified; barsToCount=35, CountBars=2999)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute
Recommended Trading Sessions: Any
Currency Pairs: NZD/CHF + any pair
Buy Trade Example: NZD/CHF (New Zealand Dollar / Swiss Franc), M1 Chart
Long Entry Rules
Initiate a buy entry if the following indicator or chart pattern gets put on display:
- If the lime green and red histograms of the TrendLinearReg custom MT4 indicator align somewhat above the 0.00 reference level as illustrated on Fig. 1.0, bulls are said to be driving price higher i.e. a trigger to buy the designated currency pair.
- If the blue line of the Alligator Metatrader 4 forex indicator crosses below the lime and red lines in a bottom up fashion as seen on Fig. 1.0, the general market sentiment is said to be bullish, therefore a buy alert is said to be imminent.
Stop Loss for Buy Entry: Place stop loss below short-term support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If while a bullish trend is ongoingand the TrendLinearReg custom MT4 indicator pops up a red histogram below the zero-signal level, it is indicative of weaning bulls power, hence a trigger to exit or take profit forthwith.
- If during the course of a bullish trend, the lime line of the Alligator indicator intersects the red line (see Fig. 1.0), bulls power is said to be weaning, therefore an exit or take profit stance is recommended.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the red and lime green histograms of the TrendLinearReg forex MT4 indicator align below the 0.00 horizontal level as depicted on Fig. 1.1, bears are said to be pressuring price to the downside, thus a trigger to go short on the designated fx pair.
- If the blue line of the Alligator forex indicator crosses above the lime and red lines in a top downward manner as exemplified on Fig. 1.1, the overall market sentiment is said to be bearish, as such a sell alert is said to be forthcoming.
Stop Loss for Sell Entry: Place stop loss above short-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the TrendLinearReg custom MT4 indicator pops up a lime green histogram above the zero-signal level (refer to Fig. 1.1), it is pointing to diminishing bear power, hence a trigger to exit or take profit straightaway.
- If while a bearish trend is runningand the lime line of the Alligator indicator intersects the red line, more and more sellers are said to be leaving the market, therefore an exit or take profit stance is advised.
Sell Trade Example: NZD/CHF (New Zealand Dollar / Swiss Franc), M1 Chart
About The Forex Technical Indicators Used
The Alligator is a technical indicator by Bill Williams, introduced in 1995, the indicator is comprised of three lines that are overlaid on the activity chart.
The lines represent the jaw, the teeth and the lips of the Alligator.
Forex traders tend to use this indicator to gauge trend and its likely direction.
The real creator behind the TrendLinearReg custom indicator is Sergej Solujanov.
The indicator is designed to spot trend changes and zone breakouts.
The indicator can be traded when it breaches its zero line, as well as reaches its peak values.
Start using this forex strategy in just 5 minutes. Click here to get started now.