Scalping strategies with profitable trading history are always in high demand. We bring you yet another scalping system, that was tested on high quality historical data and in various (slight) variation makes money for lot of day traders. The system is very simple, easy to learn and easy to trade.
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We have tested this scalping forex strategy in 1H chart of eurusd since 2003 (tick data). However, it was designed for lower timeframes and higher frequency of trading.
Used tools and indicators
Average directional movement index (ADX 100) ADX is used as trend and momentum filter. For trend idenitifcation, we consider position of DI- and DI+ line relative to each other. Drawn additional line with value 10 in the indicators window. Main ADX line must trend above it to confirm sufficient market momentum.
Bollingee bands (BB period 40, deviation 2) We will be looking for price moving outside the BB tunnel only to close back within. We enter on candle close once the price returns in the tunnel. This point provides statistically better price for entry.
Forex strategy rules
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SELL
DI + trending below DI-. Downtrend.
Main ADX line trending above 10 horizontal line. Momentum of downtrend confirmed.
Price rises above upper BB. Once it closes back below the upper BB we enter the trade short.
Take profit: 20 pips
Stop loss: 60 pips
BUY
DI + trending above DI-. Uptrend.
Main ADX line trending above 10 horizontal line. Momentum of uptrend confirmed.
Price falls below bottom BB. Once it closes back above it we enter the trade long.
Take profit: 20 pips
Stop loss: 60 pips
Get MT4 expert advisor trading this forex strategy
For best results, 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.
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.
