The Pips Arrows and Curves forex scalping strategy is a high frequency scalping strategy that follows the trend of smaller moves on the M1, M5 and M15 charts.
The strategy puts you at an advantage based on its setup that keeps you trading on the profitable side of the trend.
MetaTrader4 Indicators: buysellpips.ex4 (Default Setting), ArrowsAndCurves.ex4 (Inputs Variable Modified; SSP=36)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute
Recommended Trading Sessions: Any (London, New York, Tokyo)
Currency Pairs: Any pair
Buy Trade Example
Long Entry Rules
Initiate a buy entry if the following indicator or chart setup gets put on display:
- If the blue upward pointing arrow of the ArrowsAndCurves.ex4 custom MT4 indicator gets aligned slightly below the candles as seen on Fig. 1.0, while price trades along the upper green line, a bullish signal is said to be in the cards.
- If the yellow upward pointing arrow and lime dotted line of the buysellpips.ex4 custom indicator gets displayed within the indicator window as depicted on Fig. 1.0, price is said to be pressured higher i.e. a trigger to go bullish on the designated currency pair.
Stop Loss for Buy Entry: Place stop loss below lower green line.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If while a buy signal is ongoing, the red downward pointing arrow gets put on display, bulls’ power is said to be weaning i.e. a trigger to exit or take profit without delay.
- If the yellow downward pointing arrow of the buysellpips.ex4 custom indicator pops up within the indicator window (refer to Fig. 1.0), it is a signal to exit or take profit at once.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the red downward pointing arrow of the ArrowsAndCurves.ex4 custom indicator gets placed somewhat above price bars as illustrated on Fig. 1.1, while price trades along the lower green line, a bearish signal is said to be in the offing.
- If the yellow downward pointing arrow and red dotted line of the buysellpips.ex4 custom indicator gets displayed within the indicator window as shown on Fig. 1.1, price is said to be taken lower i.e. a trigger to go bearish on the specified forex pair.
Stop Loss for Sell Entry: Place stop loss above upper green line.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If while a sell signal is running, the blue upward pointing arrow pops up on the activity chart, bears power is said to be halting, hence an exit or take profit is advised.
- If the yellow upward pointing arrow of the buysellpips.ex4 custom indicator pops up within the indicator window while a sell signal is ongoing (check Fig. 1.1), it is a trigger to exit or take profit forthwith.
Sell Trade Example
The BuySellPips.ex4 custom indicator captures trends via its yellow upward or downward pointing arrow with an attached dotted lime or red line to signal a buy or sell.
The ArrowsAndCurves.ex4 custom indicator combines two moving averages formed in a channel pattern with a blue or red arrow to deliver buy and sell alerts respectively.