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The Simple Envelope Forex Scalping Strategy
This is a technical Indicator that is formed with two Moving Averages one of which is shifted upward and another one is shifted downward. This is useful in a 5 minute timeframe and work in GBPUSD pairs.
Metatrader Indicators:
- EMA Period: 200
- Moving Average Envelope: 0,3% of the EMA
- Arrows Buy-Sell indicator.
Long Entry:
- The price must cross and close below the lower envelope.
- Buy at first buy Arrow.
Short Entry:
- The price must cross and close above the upper envelope.
- Sell at first sell Arrow.
Exit Position:
- Buy: The price must cross and close above the lower envelope when you exit.
- Sell: The price must cross and close below the upper envelope when you exit.
- Take profit at 12 pips; Stop Loss 15 pips.
Note: Setting for take profit. is during London and New York sessions profit target is 12 pips, 22:00-07:00 (GMT Berlin) PT=7 pips.
Also if the ratio of this Scalping System GBPUSD is greater than 1.
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