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Intraday Breakout Forex Scalping Strategy
This is a scalping strategy that is based on the breakout box. This system uses a 5-minute chart. The currency pairs that are applicable in this strategy are EU, GU, EJ, AU, and UCHF.
Metatrader Indicators:
- Autoplot pivot Indicator;
- Swing ZZ Indicator;
- Exponential moving average 21 periods (close, smoothed);
- Breakout box 4 London opening range indicator;
- Box begin period ( 6:00) – period (End 8:00) – Box End (20:00);
- AscTrend 4TF;
- Commodity Channe Indx ( CCI) 45 period;
- Awesome Ave indicator.
Long Entry:
- The price must be above the box.
- AscTrend blue squares.
- CCI is above 100 level.
- A blue bar will show on the Awesome Ave.
Short Entry:
- The price is below the box.
- AscTrend red squares.
- CCI is above -100 level.
- Awesome AVE red bar.
Take profit on the pivot lines.
Profit Target predetermined.
Place initial stop loss 16 pips for EU, 20 pips for GU and EJ and 15 pips for AU and UCHF.
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