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AMA Bands Forex Scalping Strategy
This scalping strategy works on a 5-minute timeframe. AMA bands and 5-minute chart are the indicators that are used for this system. The currency pairs that are applicable to this system are EURUSD, GBPUSD.
Metatrader Indicators:
- Ama Bands ( 9, 30, 2);
- 5-minute chart.
General rules:
- Identify the trend.
Long Entry:
- 5-minute chart line subwindow indicator must be blue on the 5 min chart and 15 min chart.
- AMA bands blue arrow must appear but only on the 5 min chart.
Short Entry:
- 5-minute chart line subwindow indicator must be red on the 5 min chart and 15 min chart.
- AMA bands red arrow must appear but only on the 5 min chart.
Exit Position:
- The 5-minute chart indicator must change direction or on the pivots points levels.
- Place initial stop loss on the previous swing
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