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AMA Bands Forex Scalping Strategy
This system uses a 5-minute chart and AMA bands indicator. This is a strategy that is useful on a 5-minute timeframe and is applicable to EURUSD and GBPUSD pairs. This system is a trend following system.
Metatrader Indicators:
- Ama Bands ( 9, 30, 2);
- 5-minute chart
General rules:
- Identify a term trend.
- If you trade on a 5M timeframe – go to one-time frame higher. (15M timeframe Chart in this case).
Long Entry:
- 5-minute chart line subwindow indicator is blue on the 5 min chart and 15 min chart.
- Blue arrow Ama bands must appear on a 5-minute chart.
Short Entry:
- 5-minute chart line subwindow indicator is red on the 5 min chart and 15 min chart.
- Red arrow Ama bands must appear on a 5-min chart.
Exit Position:
- 5 min chart indicator change direction or on the pivots points levels.
- Place initial stop loss on the previous swing.
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