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Scalping Chimp
This is another strategy that helps traders for scalping. This is easy if understood clearly. Use a 5 minute in EURUSD, GBPUSD and AUDUSD pairs. Indicators are listed below:
- ADXVMA16Bar
- ADXVM12Bar
- TLOMI Nonlag v.4
- Chimp2.1 with ma
- MA Cross OC
For LONG entry:
- ADXVMA12Bar and TLOmi non lag must be greater than ADXVMA16 Bar;
- MA is greater than Chimp2.1;
- Wait for the blue arrow MA Cross OC.
For SHORT entry:
- ADXVMA12Bar and TLOmi non lag must be less than ADXVMA16 Bar;
- Ma is less than Chimp2.1;
- Wait for the red arrow MA Cross OC.
To exit position, wait for the red arrow to appear if you have a buy position. When the blue arrow appears on a sell position, exit the position.
Take profit at 7 pips for EURUSD, 9 pips for GBPUSD and 5 pips AUDUSD.
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