RSI And SFX MCL Forex Scalping Strategy
This is a scalping strategy that uses stochastic indicator as a filter. This works on a 5-minute or higher timeframe. This is useful on major currency pairs. take note that this strategy is not for beginners.
- SFX MCL indicator;
- RSI Indicator (5-period) with two moving averages 11 and 34 periods;
- Stochastic Indicator (14,3,3)-low-High;
- Pivot points Levels;
- Trend Reversal indicator;
- SFX MCL indicator line green must be greater than line blue.
- RSI and moving average 17 and 34 must cross in an upward direction.
- Trend Reversal indicator bars must be aqua;.
- Stochastic indicator crosses upward but is not in the oversold area.
- Avoid entering a long trade if the stochastic is in oversold area and the RSI is greater than 80.
- SFX MCL indicator line green must be less than line blue.
- RSI indicator and moving average 17 and 34 must cross in a downward direction.
- Trend Reversal indicator bars must be red.
- Stochastic indicator crosses downward but is not in the overbought area.
- Avoid entering a short trade if the stochastic is in overbought area and the RSI is less than 20.
- Exit when SFX MCL reverse.
- Profit target should be 5-8 pips or it depends on the currency pairs.
- Exit at the pivot points levels.
- Place stop loss at 10 pips below or above the entry bar.
Forex Strategies Installation Instructions
RSI And SFX MCL Forex Scalping Strategy is a combination of Metatrader 4 (MT4) indicator(s) and template.
The essence of this forex strategy is to transform the accumulated history data and trading signals.
RSI And SFX MCL Forex Scalping Strategy provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust this strategy accordingly.
Forex Metatrader 4 Trading Platform:
- Free $30 To Start Trading Instantly
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How to install RSI And SFX MCL Forex Scalping Strategy?
- Download RSI And SFX MCL Forex Scalping Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Right click on your trading chart and hover on “Template”
- Move right to select RSI And SFX MCL Forex Scalping Strategy
- You will see RSI And SFX MCL Forex Scalping Strategy is available on your Chart
Click here below to download: