Strong candle and Alligator, FOREX scalping strategy

Entry signal for this scalping forex strategy is as simple and as effective as it gets. If you love frequent trading, you will also love this forex strategy. It uses alligator forex indicator to identify the trend. In trend, candles moving in its direction tend to be wider. This tall candle may be interpreted as growing market momentum in the direction of trend. In this forex strategy we will take advantage of this trading setup using equal stop and profit targets.

 

Used forex indicators

Alligator (26,16,10)

 

Forex strategy rules

We plot alligator forex indicator in 15 min chart of any major currency pair.

 

SELL:

 

 

Alligator lines are untangled. Lined according to the downtrend, from top to bottom: blue, red, green

Signal: Strong bearish candle.

Body of signal candle is larger than a whole range of any of previous 5 candles.

We enter immediately on signal candle close.

Stop loss is placed one pip above signal candle high.

Take profit: We exit the trade on first bearish candle closing below our entry point (in profit).

 

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BUY:

 

Alligator lines are untangled. Lined according to the uptrend, from top to bottom: green, red, blue

Signal: Strong bullish candle.

Body of signal candle is larger than a whole range of any of previous 5 candles.

We enter immediately on signal candle close.

Stop loss is placed one pip below signal candle low.

Take profit: We exit the trade on first bullish candle closing above our entry point (in profit).

 

Notes: This forex strategy goes for single candle of profit or loss. Profitable trades may be up to 3x times more frequent than losing ones.

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THEFOREXKINGS

“Trading FOREX since 2006. Full time trader and web developer since 2013. My two biggest hobbies are trading and web development. In TheForexKings I managed to connect both of them. Even after 12 years of trading I still have the same passion for the market as at the beginning. The aspect I enjoy the most : development and testing of new ideas.” 

 

Only in 2016 - 2017 we have created more than 400 forex strategies. During this period we have also developed and published +200 MT4 Expert advisors based on those strategies. We are dedicated to provide you with viable and complete trading systems that have thrived in extensive historical testing. We want to give you complete and transparent trading solutions, that once mastered ,will set you financially free. We want to give you a fighting and winning chance in the market. ” 

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