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Direct scalping forex strategy

Following setup, might be the cornerstone for a large number of trading systems. It consists of two inseparable parts. First, we combine four exponential moving averages, to identify the trend. Four different calculation periods are used to avoid entering the market at trend reversals. Secondly we use RSI oscillator, with attention to detail. Making sure we enter the trade on completed signal and on candle close.

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This ensures high quality and accuracy of historical data. Therefore, we can combine those tools into a profitable forex strategy, that was tested on high quality historical data since 2003. Unlike the other systems, this forex strategy is relatively easy to trade. But why would you do that, when we have prepared an automated trading system for you !

Used tools and indicators

Following settings were used to test the system in 1H chart of EURUSD (tick data since 2003)

Exponential moving averages (EMA first tandem 600,300, second tandem 250,100). EMAs are working in two pairs to identify trend with high level of competency. This setup is actually widely used by professional independent traders and institutional traders alike. It is simple and as accurate as it gets in forex. To enter the trade both pairs must unanimously confirm the trend. We have not tested another settings for any of 4 EMAs and there is sure a lot of room for improvement of this trading system.

Relative strength index (RSI 3) RSI will tell us when to enter the trade. We will be looking for a good price for entry based on full RSI signal. RSI must return back to neutral, after visiting overbought oversold zone.

Max open trades: Strategy allows opening more than one trade per direction at the same time.

Forex strategy rules

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SELL

First tandem : EMA fast trending below EMA slow.

Second tandem: EMA fast 1 trending below EMA slow 2.

RSI rising above the 70 line. We enter on candle close once it returns below 70 line.

SL and TP are placed immediately upon entry.

Stop loss: 90 pips

Take profit: 20 pips

BUY

First tandem : EMA fast trending above EMA slow.

Second tandem: EMA fast 1 trending above EMA slow 2.

RSI falling below 30 line. We enter on candle close once it returns back above 30 line.

SL and TP are placed immediately upon entry.

Stop loss: 90 pips

Take profit: 20 pips

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Disclaimer: 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. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.