1-Minute Forex Scalping Strategy For AUD/NZD
The 1-Minute Forex scalping strategy for the AUD/NZD currency pair yields both scalping and intraday trade signals within the currency market.
To spice things up a little bit more, we have designed this strategy to deliver accurate and concise chart demonstration, alert precision, and reduced lagging, turning this trade system into a unique trend following apparatus.
The strategy is designed around the broad idea of filtering signals that are gotten off price using the Holt_double_exponential_smoothing_trend indicator.
Trader can always use the 1-Minute Forex scalping strategy for the AUD/NZD on other currency pairs as well with the same accuracy.
Asides deploying it on an M1 chart, other time frames will also fit well.
In respect to this, both scalpers and day traders can expressly benefit from this amazing system.
MetaTrader 4 Indicators: hull-moving-average.ex4 (Inputs Variable Modified; period=50, Colors Modified; #0=Blue, #1=Red), Moving Average.ex4 (Parameter Modified; Period=36, Style=Yellow), Holt_double_exponential_smoothing_trend.ex4 (Inputs Variable Modified; Estimate period=21.33, Trend period=20.0)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour
Recommended Trading Sessions: London, New York, Tokyo
Currency Pairs: AUD/NZD + any other pair
Buy Trade Example: AUD/NZD (Australian Dollar / New Zealand Dollar), M1 Chart
Long Entry Rules
Initiate a buy entry if the following indicator or chart pattern gets put on display:
- If the yellow 36 SMA Metatrader 4 indicator line crosses below the dual colored hull-moving-average indicator line in a bottom up manner as illustrated on Fig. 1.0, the overall market sentiment is said to be bullish, as such a buy alert will suffice.
- If the gray line plus lime green histograms of the Holt_double_exponential_smoothing_trend custom indicator align above the 0.00 horizontal level as depicted on Fig. 1.0, bulls are said to be driving price higher, therefore a buy alert will suffice.
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 ongoing, the yellow 36 SMA indicator line intersects the hull-moving-average dual colored indicator line, a bearish reversal is said to be looming, thus a trigger to exit or take profit at once.
- If the gray line of the Holt_double_exponential_smoothing_trend custom indicator dips below the 0.00 signal level during the course of a bullish trend (refer to Fig. 1.0), it is indicative of diminishing bulls power, therefore an exit or take profit stance is recommended.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the yellow 36 SMA forex indicator line crosses above the dual colored hull-moving-average indicator line in a top downward fashion as seen on Fig. 1.1, the general market sentiment is said to be bearish, thus a signal to go short on the designated currency pair.
- If the gray line plus orange histograms of the Holt_double_exponential_smoothing_trend custom indicator runs below the 0.00 horizontal level as illustrated on Fig. 1.1, bears are said to be dragging price lower, thus a trigger to go short on the currency pair of interest.
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 during the course of a bearish trend, the yellow 36 SMA indicator line intersects the hull-moving-average dual colored indicator line, more and more bears are said to be closing their positions, therefore an exit or take profit stance is duly advised.
- If the gray line of the Holt_double_exponential_smoothing_trend custom indicator surges above the 0.00 signal level while a bearish trend is on course (see Fig. 1.1), bears power is said to be weaning, as such it is a trigger to exit or take profit forthwith.
Sell Trade Example: AUD/NZD (Australian Dollar / New Zealand Dollar), M1 Chart
About The Forex Technical Indicators Used
The hull moving average is a more responsive moving average that eliminates lag altogether while enhancing smoothing concurrently.
The 36 SMA (Simple Moving Average) is a technical analysis indicator that smooths out currency price data by constantly creating an updated average price over 36 periods.
The Holt_double_exponential_smoothing_trend is a form of an “on-chart average like” custom indicator that can forecast trend.
The indicator oscillates above (buy) or below (sell) its zero signal level.
Start using this forex strategy in just 5 minutes. Click here to get started now.