Simple forex strategy that can be adjusted to scalp on any currency pair. Similar to others forex scalping strategies, it combines trend identification properties of EMA (Exponential moving averages) with entry timing done by oscillator indicator - stochastic.
Used forex indicators:
Stochastic forex indicator: Default settings
Currency: Any low spread, high volatility forex pair.
Timeframe : 5 minutes
Forex strategy rules:
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Price is traded above EMA 150 (uptrend). Both Stochastic lines (main and signal) fall under 30. We enter on candle close (new candle open). Ideally on bearish candle, or narrow bullish candle. While we enter position Stochastic should still remain under 30.
We set our stop loss on EMA level under the price.
Take profit: We exit position once Stochastic reaches over 70.
Price is traded under EMA 150 (downtrend). Both Stochastic lines (main and signal) rise above 70. We enter on candle close. Ideally on bullish candle, or narrow bearish candle. On candle close Stochastic still reads over 70.
We set our stop loss on EMA level above the price.
Take profit: We exit position once Stochastic falls under 30
We recommend you to use this forex strategy with one of our trusted forex brokers (STP/ECN with MT4 bridge).
To win you must trade with broker on your side.
Dislaimer: Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer.
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