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The King Forex Scalping Strategy
This scalping system is a trend breakout system for intraday. This is based on the king trend detector and king’s cage indicator. This system works on a 15-minute timeframe. The currency pairs that are applicable to this system are GU, GJ, EU, AU, and UCHF.
Metatrader Indicators:
- Heiken Ashi,
- 2 MA crossover,
- King Trend signal,
- 5 moving average smoothed High,
- 5 moving average smoothed Low,
- King’s Cage indicator ( the basic Indicator for this scalping system),
- QQE Alert,
- King’s trend detector
- RCS Fibo indicator.
Long Entry:
- The price must break upward the breakout filter zone.
- Trend detector signal must be an uptrend.
- Arrow buy appears (2MA crossover or King’s trend signal).
- Heiken Ashi Bar must be green and will close above SMA 5 tunnel.
- SMA 5 tunnel is trending up.
- QQE alert value 1 is crossing QQE alert value 3 from below.
Short entry:
- The price must break downward the breakout filter zone.
- Trend detector signal must be a down trend.
- Arrow sell appears (2MA crossover or King’s trend signal).
- Heiken Ashi Bar must be red and will close below SMA 5 tunnel .
- SMA 5 tunnel is trending down.
- QQE alert value 1 is crossing QQE alert value 3 from above.
Exit position:
- Place initial stop loss at 15-20 pips.
- Take profit on RCS Fibo Level or place target profit target 12-15 pips (ratio stop loss 1:1).
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