Stochastic With 3 Moving Averages Forex Scalping Strategy
This is a scalping strategy that uses the combination of EMA and stochastic. This system is useful in a 5 minute or 15 minute timeframe and works in any currency pairs. Use this strategy during London and New York sessions.
Metatrader Indicators:
Three exponential moving averages these are Fibonacci numbers.
- 144 EMA
- 89 EMA
- 21 MA Smooth
- stochastic (13, 5,5,);( these are Fibonacci numbers);
- SHI Silver Trend.
Rules:
- Trade with the trend. You will notice that when 21 MA smooth is greater than 89 EMA and EMA 89 is greater than EMA 144, it is an uptrend. The downtrend is when 21 MA smooth is less than EMA 89 and EMA 89 is less than EMA 144,
- Price pullback on the moving averages and stochastic in overbought or oversold.
Buy Entry:
- The market must be in an uptrend.
- The price must pullback on the moving averages confirmed by green dot SHI Silver Trend.
- Buy when color stochastic is in oversold with green color.
Sell Entry:
- The markey must be in a downtrend.
- The price must pullback on the moving averages confirmed by red dot SHI Silver Trend.
- Sell when color stochastic is inoverbough with red color.
Exit Position:
- Stop loss should be 3 pip3 above below high or low of recent candle swing.
- Profit Target fast and predetermined depending on the currency pairs and time frame 5min or 15min.
- Good exit is also on the levels pivots or resistance-support.
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