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Simple Secret Forex Scalping Strategy
This is a trend following scalping trading system. It also works by analyzing wave direction. This strategy works on a 5 minute timeframe and is applicable to major currency pairs.
Forex Indicators
- Time zone trading;
- Pivot lines;
- 1 – T3 Dragon 1 (0, 1, 0, 2) ( Green bar = Up trend, Buy Signal. Red Bar = Down trend, Sell Signal.
- Setting t3 Dragon1 (0, 1, 0, 2)
- Volatility Meter
Trend Filter (RSI 56) (25; 75),
Signals generated by this indicator are:
- Up Trend = Green Bars = Buy Signal
- Down Trend = Red Bars = Sell Signal
Arrow
Signals generated by this indicator are:
- red arrow = sell signal,
Green arrow = buy signal
When Volatility is greater than 0.00025, a signal then is valid to buy or sell.
Buy Signal:
- T3 Dragon 1 must show green Green Candles.
- Trend Filter RSI Signal has green bar.
- Volatility meter is greater than 0.0025 Line.
Sell Signal:
- T3 Dragon 1 must show red Candles.
- Trend Filter RSI Signal has red bar.
- Volatility meter is greater than 0.0025 Line.
Stop Loss:
- Fractals or arrows is used to determine stop loss.
- SL should be 5 pips above the previous swing for short position and 5 or 10 pips below the entry arrow for long position.
Targets Profit:
- Use a specific fixed number (levels pivot) or an profit target predetermined 9 or 15 pips.
- Close each trade manually when you see an opposite Arrow.
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