Stochastic star 15 min scalping FOREX strategy

by StopThescalp: This is one of my most favourite scalping forex strategies. I prefer to use it in 15 min timeframe, but there is no reason for it not to be used in any other timeframe. It can be also used as a standard day trading system when scaled properly.

 

The system uses morning/evening star formation confirmed by two forex indicators

  • Exponential moving averages (EMA) 100 and 50. Standard EMA cross, respectively portion of faster EMA relatively to slower will determine trend. All positions are entered in the direction of EMA determined trend.

  • Stochastic (default setting). Stochastic will help us to avoid entering the formations at the bottom of price wave. Stochastic signal alone works very well in this type of setup. Combination with m/e star improves the signal accuracy even further.

Forex strategy rules

 

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SELL

 

 

EMA 50 must trend below EMA 100 signalizing downtrend. Only short positions must be entered.

Stochastic oscillator rising above 70 line.

 

Evening star formation formed and closed.

 

Three candle formation:

1: bullish candle

2. Flat bullish or bearish candle

3. Bearish candle closing below the low of first candle.

We enter immediately on third candle close.

Stop loss: 1 pip above formations high

Take profit: Double the formations range.

 

BUY

EMA 50 must trend above EMA 100 signalizing uptrend. Only long positions must be entered.

Stochastic oscillator falling below 30 line.

 

Morning star formation formed and closed.

 

Three candle formation:

1: bearish candle

2. Flat bullish or bearish candle

3. Bullish candle closing above the high of first candle.

We enter immediately on third candle close.

Stop loss: 1 pip below formations low

Take profit: Double the formations range.

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“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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