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MT4 Expert Advisor

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Envelopes target scalping forex strategy

Chart tunnel can be easily utilized to provide all the necessary readings for successful forex trading. It can provide full and viable solution for entering the trade and liquidating it. In this forex trading strategy, tunnel is fully utilized ! We draw envelopes tunnel in our chart so it can identify entry opportunity. Another envelopes tunnel is used for profit target placement. To make the strategy even more interesting, advanced trailing stop is used together with advanced profit targeting (both tunnel based).

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Backtest and optimize for any currency pair. Trade multiple instruments simultaneously, day and night.

Trade automatically, without errors and emotions. Save your time and energy.

Strategy was primarily deigned for scalping in 5 and 15 min time frames. However, we have tested it in 1H chart, to prove that it can be also used as a day trading system (also for higher test accuracy).

Used tools and indicators

Envelopes tunnel (period 40, deviation 0,1). Breakout on the tunnel will be traded. Price closing outside the tunnel with previous candle closing within the tunnel will trigger the entry. Envelopes with different tunnel deviation are also used for stop loss and take profit placement (Envelopes target deviation).

Trailing stop: Envelopes Signal tunnel will serve as the lead for trailing stop. To cover the market volatility and unexpected moves, extra deviation for trail stop can be applied (90 pips in test)

Target profit (second envelopes tunnel with deviation 0,3 in test): Target envelopes tunnel is used (different deviation 0,3). Once the price closes outside its boundaries we close all related position.

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MAX open trades (5 in test). Strategy allows opening more trade simultaneously per direction. This increases aggression of the system substantially.

Forex strategy rules

SELL

Price closing above the bottom envelopes lines. Previous candle closed within the tunnel. We enter the trade on its close.

Trailing stop is placed at signal envelopes tunnel upper line + extra distance of pips is applied.

We close all short trades, once price closes below bottom target envelopes line.

BUY

Price closing above the upper envelopes lines. Previous candle closed within the tunnel. We enter the trade on its close.

Trailing stop is placed at signal envelopes tunnel bottom line - extra distance of pips is applied.

We close all long trades, once price closes above upper target envelopes line.

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.