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MQLPRO with Stoch and CCI Trading System
This is a scalping strategy that uses a 5 minute timeframe. Trading times must be around 8 am to 18 hours CET.
Forex Indicators:
- MACD settings 2,5,3
- Stochastics 5,3,3
- CCI 14
The three indicators must be sloping in same direction ,preferably at an angle of 45% , either up or down.
Draw lines on the indicator and use the linear regression channels on metatrader platform
Rules for Long entry:
- CCI, MACD and Stoch must be in positive figure.
Rules for short entry:
- CCI, MACD and Stoch must be in negative fugure.
Place stop loss not more than 20 pips and set at the previous swing low or high.
Take profit when the CCI and stochastics reverses 90 degrees angle from entry point.
To exit position, CCI, MACD, Stoch must be in negative figure when you have a long position and is you have a short position, the 3 indicators must be positive.
MACD/volatility breakout settings should read around 70 for buy and – 70 for sell (chart
Remember, do not trade before and during news releases
If the daily average range exceeded, then do not chase the trades, as you may have missed the trend and therefore the risk reward ratio becomes unprofitable.
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