1-Minute Forex Scalping Strategy For USD/CHF
The 1-minute Forex scalping strategy for the USD/CHF currency pair is a trading strategy that is quite ideal for scalping, just as the name suggests.
It is built on a methodology that seeks to capture small profits consistently.
The system itself a smart mixture of a trend-seeking indicator and trading oscillators.
As long as you’re a scalper, this system will surely aid in making quality trades.
Setting up your MT4 terminal using the right parameter settings will ensure that your chart looks exactly as those shown in the examples below:
MetaTrader 4 Indicators: forex-mt4-trend-indicator.ex4 (Inputs Variable Modified; MaPeriod=24), DPO.ex4 (Inputs Variable Modified; x_prd=28, CountBars=30000), Moving Average of Oscillator.ex4 (Parameters Modified; Fast EMA=23, Slow EMA=36, MACD SMA=19)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute
Recommended Trading Sessions: London and New York
Currency Pairs: USD/CHF + other low spread pairs
Buy Trade Example: USD/CHF (US 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 blue upward pointing arrow plus candle-like bodies of the forex-mt4-trend-indicator gets displayed somewhat below the price bars as shown on Fig. 1.0, the general market sentiment is said to be bullish i.e. a signal to buy the designated currency pair.
- If the blue line of the DPO custom indicator breaks and runs above the zero horizontal level as seen on Fig. 1.0, price is said to be driven higher, thus a trigger to buy the selected forex pair.
- If the silver histograms of the Moving Average of Oscillator Metatrader 4 forex indicator align above the 0.00 reference level as depicted on Fig. 1.0, bulls are said to be pushing price higher, as such 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 the forex-mt4-trend-indicator pops up a red downward pointing arrow while a bullish trend is running, bulls power is said to be diminishing, thus an exit or take profit stance is imminent.
- If the blue line of the DPO custom indicator falls below the 0.00 horizontal level during the course of a bullish trend, it is pointing to weaning bulls power, thus a signal to exit or take profit forthwith.
- If the Moving Average of Oscillator indicator pops up a silver indicator below the 0.00 signal level while a bullish trend is running (see Fig. 1.0), it is a trigger to exit or take profit immediately.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the red downward pointing arrow plus candle-like bodies of the forex-mt4-trend-indicator pops up slightly above the price bars as illustrated on Fig. 1.1, the overall market sentiment is said to be bearish i.e. a signal to sell the currency pair of focus.
- If the blue line of the DPO custom indicator breaks and runs below the zero horizontal level as exemplified on Fig. 1.1, price is said to be dragged lower, thus a trigger to sell the designated fx pair.
- If the silver histograms of the Moving Average of Oscillator indicator align below the 0.00 horizontal level as portrayed on Fig. 1.1, bears are said to be opening positions increasingly, as such a sell alert is appropriate.
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 while a bearish trend is running and the forex-mt4-trend-indicator pops up a blue upward pointing arrow, bears are said to be closing their positions more and more, thus an exit or take profit stance is in the cards.
- If the blue line of the DPO custom indicator surges above the 0.00 horizontal level while a bearish trend is on course, it is signaling a likely end in bearish sentiment, thus a signal to exit or take profit straightaway.
- If the Moving Average of Oscillator indicator pops up a silver indicator above the 0.00 signal level while a bearish trend is running (refer to Fig. 1.1), an exit or take profit stance is highly advised.
Sell Trade Example: USD/CHF (US Dollar / Swiss Franc), M1 Chart
About The Forex Technical Indicators Used
The forex-mt4-trend-indicator is a trend indicator just as conveyed within its name, with its red arrows signifying a sell, while its blue arrows connotes a buy signal.
The Detrended Price Oscillator or DPO has the sole function of removing trend from price and making it easier to pinpoint cycles (highs/lows), as well as estimate the length of such cycles.
The Moving Average of Oscillator or OsMA is a tool that tries to spot overbought or oversold conditions by gauging how far an oscillator lies from its moving average.
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