Quadruple Forex Scalping Strategy

Quadruple R is an ultimate scalping strategy that delivers consistent profits during trending markets. It adopts four basic indicators in analyzing the market for quick entry and exit signal.

This strategy has been carefully designed to signal bullish and bearish sentiments in an efficient manner.

Chart Setup

MetaTrader4 Indicators: RainbowMMA_08.ex4 (default setting), RainbowMMA_11.ex4 (default setting), RAVI.ex4 (default setting), realMACD.ex4 (default setting)

Note: When setting up the indicators, kindly add the realMACD.ex4 unto the area within RAVI custom indicator window.

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute

Recommended Trading Sessions: Any (London, New York, Tokyo)

Currency Pairs: Any

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Enter a buy in the market if the following indicator or chart pattern gets displayed:

  1. If the deep sky blue lines of the RainbowMMA_08.ex4 custom indicator crosses the gold lines of the RainbowMMA_11.ex4 custom indicator bottom up as shown on Fig. 1.0, it is a signal to buy the pair of interest. The lines of indicators are aligned in such a manner that price trades above the indicators line.
  2. If the blue and red lines of the realMACD.ex4 custom indicator breaks above the 0.00 signal level as depicted on Fig. 1.0, it is a trigger to go long.

Stop Loss for Buy Entry: Place stop loss 2 pips below support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions are in place:

  1. If the gold lines of RainbowMMA_11.ex4 custom indicator crosses the deep sky blue lines of the RainbowMMA_08 custom indicator top downward during a bullish trend, it is a signal to exit or take profit forthwith.
  2. If the declining yellow histograms of the realMACD.ex4 custom indicator falls below the 0.00 signal level of the RAVI indicator, it is a trigger to exit or take profit at once.

Sell Entry Rules

Enter a sell in the market if the following chart or indicator style takes center stage:

  1. If the deep sky blue lines of the RainbowMMA_08.ex4 custom indicator crosses the gold lines of the RainbowMMA_11 custom indicator top downward as depicted on Fig. 1.1, it is a signal to sell the pair of interest.
  2. If the blue and red lines of the realMACD.ex4 custom indicator breaks below the 0.00 signal level as shown on Fig. 1.1, it is a sell alert.

Stop Loss for Sell Entry: Place stop loss 2 pips above resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following rules or conditions hold sway:

  1. If the gold lines of RainbowMMA_11 custom indicator crosses the deep sky blue lines of the RainbowMMA_08 custom indicator bottom up during a bears market, it is a signal to exit or take profit at once.
  2. If the rising yellow histograms of the realMACD.ex4 custom indicator breaks above the 0.00 signal level of the RAVI indicator, it is a trigger to exit or take profit without delay.

Sell Trade Example

Fig. 1.1

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About The Trading Indicators

Lastly, the RainbowMMA_08 and the RainbowMMA_11 are the eighth and eleventh GMMA forex series of eleven technical indicators largely dependent on the Guppy multi moving average.

The realMACD.ex4 indicator is a trend following indicator that is built after the MACD MT4 indicator.

The Rapid Adaptive Variance Indicator or RAVI was built by Tushar Chande to aid spot if market is in a trend.

The RAVI indicator displays the difference (in %) between the current price and the past prices.

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