Momentum Trading Forex Scalping Strategy

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Momentum Trading Forex Scalping Strategy

This is a system that are based on 2 indicators, namely the momentum scalper and the Ergodic BH indicator. There are 2 options to trade in this method and one of these is trading in the direction of the trend. Rules will be provided below. Use this method in a 5-minute timeframe. This works on major currency pairs with a spread greater than 0.0001 or less than 1 pip. Avoid trading before the news.

Metatrader indicator:

  • Momentum Scalper indicator ( 5 , period);
  • BH Ergodic indicator (1, 2,2,2,2,).

Buy Entry:

  • The black bar of the momentum scalper indicator must appear above the zero line.
  • BH Ergodic indicator is greater than 0.
  • Buy at the opening of the next bar.

Sell Entry:

  • The black bar of the momentum scalper indicator must appear below the zero line.
  • BH Ergodic indicator is less than 0.
  • Sell at the opening of the next bar.

Exit position:

  • Target profit is 4-5 pips for EU and AU and 5 pips for GU.
  • Place stop loss below or above the entry bar.

For Trend Following Rules:

  • Add two moving averages smoothed:
  • moving average 25 period High;
  • moving average 25 period Low.

Long Entry:

  • Enter a long trade when the price is above the moving average high and use the previous rules stated above.

Short Entry:

  • Enter a short trade when the price is below the moving average low and use the previous rules stated above.

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