Stochastic MTF Forex Scalping Strategy

September 7, 2016

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Stochastic MTF Forex Scalping Strategy

This is a strategy that works on a 15 minute timeframe and is applicable to any currecy pairs. This system also uses many indicators to really catch a good entry. Each indicator has an explanation on what is it all about.

Forex Indicators and its setups:

Clock indicator – shows the time remaining before the nest bar opens.
Stochastic Crossing 14, 5, 5, 3, 1 – shows the intersection of the lines of stochastic in the chart price.
Pivot daily – pivot levels for exit.
Sessions – shows the best shopping areas.
market price-W1 – displays the price, uses an average price spread and the number of points from the opening price.
HMA – trend indicator
Stochastic oscillator 14, 5, 5 – uses for entry point.
Williams ’ Percent Rage (9) – set in one window (1) with the Stochastic Oscillator (14, 5, 5).
MTF Stochastic v 2.0 Alert (9, 5, 5, 3, 1) to M30, Window 2 – define the trend to M30.
MTF Stochastic v 2.0 Alert (9, 5, 5, 3, 1) at T2, Window 3-define the trend on H1.
MTF Stochastic v 2.0 Alert (9, 5, 5, 3, 1) to H4, Window 3-define trend at H4.

Short Entry:

M15 Stoch crossing signal must appear. Must be pointing down.
HMA and Stoch crossing must be in the same direction. It should be upward.
Minimum of 3 MTF Stochastic Oscillator, the 15 along with any 2 of hte M30, H1 and H4 timeframes in the same direction with point 1.
Williams’ Percent Range Indicator is close and above the -90 line.
Enter long position at the opening of the next bar when all conditions are met.
Take profit would be at the daily pivot or resistance level.
Exit trade when WPR is overbought which is below -90 and M15 stochastic crossed to oversold area and ready to cross back up.

Note: WPR is slightly below -90 if the price moves fast.

Long Entry:

M15 Stoch crossing signal must appear. Must be pointing up.
HMA and Stoch crossing must be in the same direction. It should be downward.
Minimum of 3 MTF Stochastic Oscillator, the 15 along with any 2 of hte M30, H1 and H4 timeframes in the same direction with point 1.
Williams’ Percent Range Indicator is close and above the -10 line.
Enter long position at the opening of the next bar when all conditions are met.
Exit trade when WPR is overbought which is below -10 and M15 stochastic crossed to oversold area and ready to cross back up.
Place stop loss at 40 pips from the entry price.