High Win Forex Strategy For Scalping
The high win forex strategy for scalping represents an easy to learn trading system that utilizes trend-following indicators and specializes in profiting off small price changes.
The strategy deploys a set of accurate scalping indicators that works well on the smaller time frames for any currency pair.
Moreover, we added a moving average crossover ribbon system to make the strategy consistently profitable.
MetaTrader 4 Indicators: MA ribbon filled.89.21.ex4 (Colors Modified; #0=None, #1=None, #2=None), Moving Average.ex4 (Parameters Modified; Period=36, Ma method=Simple, Style=Yellow), BullBearRSI.ex4 (Inputs Variable Modified; period=18)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute
Recommended Trading Sessions: Any
Currency Pairs: Any pair
Buy Trade Example: USD/CAD (US Dollar / Canadian Dollar), M5 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 the lime MA ribbon filled.89.21 custom indicator line in a bottom up manner as shown on Fig. 1.0, the general market sentiment is said to be bullish, thus a buy alert is said to be imminent.
- If the deep sky blue vertical bars of the BullBearRSI custom indicator pops up above the zero horizontal level as illustrated on Fig. 1.0, bulls are said to be driving price higher, therefore a trigger to go long on the stipulated currency pair.
Stop Loss for Buy Entry: Place stop loss 3-5 pips 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 yellow 36 SMA forex indicator line intersects the lime MA ribbon filled.89.21 indicator line while a bullish trend is ongoing, bulls power is said to be weaning, thus a signal to exit or take profit immediately.
- If while a bullish trend is running, the BullBearRSI indicator displays a violet vertical bar below the 0.00 reference level (refer to Fig. 1.0), it is pointing to weaning bulls strength, therefore an exit or take profit will suffice.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the yellow 36 SMA forex indicator line crosses the lime MA ribbon filled.89.21 custom indicator line in a top downwards fashion as exemplified on Fig. 1.1, the overall market sentiment is said to be bearish, thus a sell alert is said to be looming.
- If the violet vertical bars of the BullBearRSI custom indicator pops up below the zero reference level as seen on Fig. 1.1, bears are said to be dragging price lower, thus a trigger to go short on the desired forex pair.
Stop Loss for Sell Entry: Place stop loss 3-5 pips above short-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the yellow 36 SMA forex indicator line intersects the lime MA ribbon filled.89.21 indicator line during the course of a bearish trend, bears power is said to be halting, thus a trigger to exit or take profit at once.
- If while a bearish trend is ongoing, the BullBearRSI indicator displays a deep sky blue vertical bar that’s placed above the 0.00 reference level as illustrated on Fig. 1.1, it is signaling diminishing bears power, therefore an exit or take profit stance will do.
Sell Trade Example: USD/CAD (US Dollar / Canadian Dollar), M5 Chart
About The Forex Technical Indicators Used
The MA ribbon filled.89.21 is a custom trend indicator designed for the Metatrader 4 platform.
The indicator offers a simple and quick way to determine trend direction and possible price reversals.
The 36 SMA (Simple Moving Average) is a technical analysis indicator that smooths out price data by constantly creating an updated average price
The BullBearRSI custom indicator works on all time frame and all forex pairs.
The deep sky blue color depicts a bullish trend, while the violet bars is indicative of a bear trend.
Start using this forex strategy in just 5 minutes. Click here to get started now.