Robby DSS Forex Trading Strategy

Scalping is relieving and offers traders an innovative way by which they can take profits from the market without having to spend long hours sitting in front of the computer screen.

Well, the good news is that the Robby DSS forex trading strategy is designed to be simple and can be applied to the most liquid forex pairs.

Chart Setup

MetaTrader4 Indicators: Robby DSS Forex.ex4 (default setting), SHI_SilverTrendSig.ex4 (default setting)

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

Recommended Trading Sessions: New York | London | Tokyo

Currency Pairs: Major forex pairs

Download

Download the Robby DSS Forex Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Enter a buy in the market if the following indicator or chart pattern holds sway:

  1. If the dodger blue dots on the dim gray line of the Robby DSS Forex custom indicator forms below the 20.00 level (oversold region), price is said to be witnessing upward pressures i.e. a signal to buy the pair of interest.
  2. If the red dot of the SHI_SilverTrendSig.ex4 custom indicator aligns below the candlesticks as shown on Fig. 1.0, it is a signal that the market sentiment is bullish i.e. an invitation to go long on the pair of interest.

Stop Loss for Buy Entry: Place stop loss 1 pip below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions take precedence:

  1. If the Robby DSS Forex custom indicator forms red dots on its dim gray line when above the 80.00 level, price is then said to be in the overbought region and as such an exit or take profit should be considered.
  2. If the blue dot of the SHI_SilverTrendSig.ex4 custom indicator appears above price bars as seen on Fig. 1.0 during an uptrend, price is then to be entering a possible reversal i.e. a trigger to exit or take profit at once.

Sell Entry Rules

Enter a sell in the market if the following chart or indicator patterns are on display:

  1. If the red dots on the dim gray line of the Robby DSS Forex custom indicator forms above the 80.00 level (overbought region) as depicted on Fig. 1.1, price is said to be pushing downwards i.e. a sell signal.
  2. If the blue dot of the SHI_SilverTrendSig.ex4 custom indicator aligns above the candlesticks as shown on Fig. 1.1, it is a signal that the market sentiment is bearish i.e. a trigger to sell the asset of interest.

Stop Loss for Sell Entry: Place stop loss 1 pip above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

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

  1. If the Robby DSS Forex custom indicator forms dodger blue dots on its dim gray line when below the 20.00 level, price is then said to be in the oversold region and as such an exit or take profit should be considered.
  2. If the SHI_SilverTrendSig.ex4 custom indicator forms a red dot below the candlesticks during a downtrend, price is aid to making a U-turn i.e. a trigger to exit or take profit at once.

Sell Trade Example

Fig. 1.1

Free Download

Download the Robby DSS Forex Trading Strategy

About The Trading Indicators

The SHI_SilverTrendSig.ex4 generates buy and sells signals by forming red and blue dots below and above price bars respectively.

The Robby DSS Forex.ex4 is an oscillator indicator that blends the stochastics and the exponential moving average to form oversold (below 20) and overbought (above 80) zones within its indicator window.

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