Simple effective forex scalping strategy based on the CCI (Commodity Channel Index) indicator and the Slope trend trading indicator.
Chart Setup
Indicators: Slope Direction Line, CCI (35 period)
Preferred time frame(s): 1 minute
Trading sessions: London, US
Preferred Currency pairs: GBP/USD, EUR/USD, USD/JPY, GBP/JPY, AUD/USD, USD/CAD, EUR/JPY
Download
Download the Forex Scalping Strategy With CCI and Slope Indicator.
Example: GBP/USD 1 Minute Chart
Here is an example of this fx strategy applied to the 1 minute GBPUSD chart and corresponding trades.
It took the short trade 19 min to hit the 20 pips target.
Trading Rules
Buy Rules:
- Slope Direction Line blue
- Price above the Slope Direction Line (bullish price action)
- CCI(35) > +100 (bullish momentum)
Go long. Place stop-loss 2 pips below the rising slope line.
Price objective: 10-20 pips
Sell Rules:
- Slope Direction Line red
- Price below the Slope Direction Line (bearish price action)
- CCI(35) > -100 (bearish momentum)
Short the currency pair. Place stop-loss 2 pips above the declining slope line.
Price objective: 10-20 pips