123 Pattern MTF Forex Scalping Strategy

September 22, 2016

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123 Pattern MTF Forex Scalping Strategy

This is a scalping strategy that uses the price action when trading. This strategy is a trend following strategy, so it means that trading in the direction of the trend can make trading more comprehensive. Use this method in a 5 or 15-minute chart. The currency pairs that are applicable to this system are EURUSD, GBPUSD, USDCHF and AUDUSD.

Forex Indicators:

Parabolic Sar indicator (0.02-0.2);
Moving Average Simple ( period 6, close);
Moving Average Simple ( period 12, close);
Moving Average Simple ( period 24, close);
Moving Average Simple ( period 48, close);
Bollinger Bands (12, 2 or 20 :2);
Bollinger bands (48, 2);
1-2-3 Pattern MTF v3.1;
Lab Trend Zig Zag 1.2;

Buy Entry:

Simple Moving Average must be trending up: MA 6 > MA12 > MA 24 > MA 48 and MA12 > MA24 > MA 48.
The direction of the parabolic SAR must be upward and dots must be below the candle.
The upper band of the Bollinger band (12, 2 or 20:2) is greater than the upper band of the Bollinger bands (48, 2).
Lab Trend Zig Zag is pointing up.
Place a pending buy order at level 100 of the indicator 1-2-3 pattern with target 161 or 261.
Place the stop loss 2 pips below the level of 23.6.

Sell Entry:

Simple Moving Average must be trending down: MA 6 < MA 12 < MA 24 < MA 48 and MA 12 < MA 24 < MA 48.
The direction of the Parabolic SAR must be downward and the dots is above the candles.
The lower band of the Bollinger band (12, 2 or 20:2) is greater than the lower band of the Bollinger bands (48, 2).
Lab Trend Zig Zag pointing down;
Place a pending sell order at level 100 of the indicator 1-2-3 pattern with target 161 or 261.
Place the stop loss 2 pips above the level of 23.6.