Benefit from the 5 min scalping fx strategy with the special Supertrend Metatrader 4 indicator.
There are only a few steps required to open buy and sell trades with a 10 pip profit target.
Chart Setup
Indicators: SuperTrend, Stochastic Oscillator (%K period: 7, %D period: 3)
Preferred time frame(s): 5 Min
Trading sessions: London, Us
Preferred Currency pairs: EUR/USD, GBP/USD, GBP/JPY, EUR/JPY, AUD/USD, USD/JPY
Download
USD/JPY M5 Trading Example
Our system provided us with 3 profitable buy entries along an up trend. Total profits: 30 pips. One open trade at 104.86.
Trading Rules
Buy Rules:
- Price has to trade above the SuperTrend indicator (green line)
- Stochastic touches the 20 level (or go below 20)
- Stochastic blue line crosses the red dotted line from below
This is your buy entry signal. Place stop-loss 1 pips below the rising SuperTrend line.
Profit target: 10 pips.
Sell Rules:
- Price has to trade below the SuperTrend indicator (red line)
- Stochastic touches the 80 level (or go above 80)
- Stochastic blue line crosses the red dotted line from above
This is your sell entry signal. Place stop-loss 1 pips below the declining SuperTrend line.
Profit target: 10 pips.