I can’t download it can someone help me please
Thank you
Hi MadScalpers,
Some fantastic trending sessions this week on AUDUSD and EURJPY, here’s a screenshot I took to explain to a friend when to “stop” looking for scalps, when price is inbetween the 14EMA and 50EMA, it’s almost a deadzone until either the 50EMA changes colour/slope, or price moves back onside the 14ema and you can continue mad scalping.
Image:
hi jalapenoninja,
where could i find the dotted colour changing ema?
There was a new MT4 600 platform released at the beginning of this year. Search for it on Youtube, it has different way of puting the indicators
Thanks Jalepenoninga, not trading when price is between the two EMA is very useful indeed!
I took my first trade today with a live account… was very frightning. Long on the EU and long on the GU… I thought there would be more range in these pairs, only took 5-6 pips…
What other pairs do you recommend trading ?(I see you traded the AU and EJ)
Petefader VSA Naked Trading.zip (31 KB)HI dnagolf, I found it in PeteFader’s VSA thread, once I figure out why babypips isn’t letting post an attachment I’ll post it up here.
Hi Adrien,
At the frankfurt open, I trade EJ and GU, but tbh I look at UJ and EU also, because they dictate EURJPY.
In the mornings I keep an eye on AUDUSD, EURJPY and USDJPY. Feel free to post up your entries you took, and we can have a chat about them.
>> Thought i"d ad to this a bit…
In the mornings, UJ and EJ are the ‘same’ pair really, but EJ tends to have larger swings, if there’s a nice setup on UJ, i’ll look to try and trade it on EJ. AU moves in an opposite direction to the two (because it’s underpinned by the US dollar).
In the afternoon, for example, EJ, EU and UJ. If EU and UJ are correlating, then EJ will move really nicely. If they’re opposing, EU and UJ are going in seperate directions, there’ll be a struggle with EJ, so I’ll look to trade the base pairs (EU and UJ).
At the market opens, I’m really looking for a clean breakout of the opening range, preferably with the trend (50 ema or 168 ema), and I’ll try and stick with that pair until a nice madscalp entry shows itself.
Here’s yesterday’s GBPUSD, and a bit of commentary to go along with the madscalper rules set out in post #1 of this thread by Pete. Keep in mind there was a heavy batch of news yesterday on the pound, hence the big price spike, it was better to look elsewhere.
Ok, so from the Frankfurt Open, price is messy, and we’ve got the previous day’s low (lime green solid line) just below. So a ‘short’ below the opening range is unlikely. Price breaks high out of the opening range, but with no sign of a no supply volume or a madscalp entry, we had to sit and wait.
News kicks in and rockets the price up, the thick red line is the previous day’s high, where I’d expect some selling. This isn’t a magical bit of B.S, but I’ve found there’s a high probability of heavy selling at the previous day’s high, and buying at the previous day’s low.
From madscalper, the 50ema (dotted) and 14 ema are both long, so we’re looking to buy, but waiting for price to consistently be above the 14 EMA, and not having any Murray Math S&R in the way (above).
At point #1, we get a bearish candle to fade on no supply, but this doesn’t get triggered, price goes back below 14ema and S&R, so bleh, still crappy. Point #2 we get a bearish candle to fade, but ideally I like to enter closer to the 14 EMA, this hasn’t pulled back enough. Using the madscalper template from post #1, the change of shading colours ensures price has pulled back far enough to give you good value for your entry.
New York Opens (light yellow vrtical line), breaks long so a good sign of bullish, but still no clean entry. at #3 we finally get a bearish candle on no supply to fade, that’s near the 14 EMA and above support & resistance.
So you can see that you can sit around for 5 hours waiting for a clean entry! 
Best to keep an eye on atleast 2 pairs, but not too many!
In addition to madscalper, I’d recommend having previous day’s high and low, and the opening range marked on your charts. Cheers, JN.
Hey guys has this been coded into an EA yet? I cant seem to find it
Hi Nadeem,
No this strategy can’t be coded into an EA, I doubt any discretionary strategy can be. It’s the support & resistance lines & news announcements that make it discretionary (the user decides whether to enter).
I’d recommend trading the setups for a few days and you’ll see what I mean by the user decisions required.
Shaded red / blue areas
Hi All
I am pretty new to forex as I mainly trade futures. My platform is Ninjatrader. I therefore cannot use the template in post 1. Does anyone know how the red and blue shade areas are calculated? I can replicate all the other indicators on Ninjatrader quite easily but cannot really out this approach in to practice without the shaded areas.
Any assistance would be much appreciated. Many thanks.
Hi TheBoy,
Your best best would be to either download a MT4 demo, load up the templates & have a look at the code of the indicators, then see what’s available in Ninja, or alternatively move over to an MT4 platform.
For me, I make my trade executions with jForex but use Mt4 for charting etc… I think the programming support & forums etc for MT4 can’t be beat.
Good luck,
JN.
Hi JN
Thanks for such a prompt reply. I think your suggestion makes sense, I will look for an MT4 demo account but continue to use NT for executions ( SIM on forex at present, of course).
Look for ward to following this thread, and others on Wyckoff, more closely once I have the templates set up properly.
No probs, the best indi in this set is the Murray Math S&R (not sure if you can replicate these in Ninja). Otherwise the strategy is really a 50 ema for trend, 14 ema for pullbacks. The shading is nice but not necessary.
The thread is quiet lately, the host (Petefader) posts regularly at his VSA thread linked in the first thread.
Hi Folks,
I’ve been a bit quite posting here as I’m not using the original set of madscalper indi’s from post #1, but still the same principles. Here’s a setup from this morning’s UJ.
A nice breakout of the opening Asian range (the high and low of the first 5 minute candle), the trend is up (50ema) and there was a nice pullback to the 14ema. A nice bonus was the “No Demand” volume that showed up on the candle prior to entry.
For an idea about “No Demand & No Supply” youtube Petefader’s videos.
Cheers & good trading
For all traders in the world, let’s having fun with forex. The best place for scalper is in NDD account of liteforex broker. Its very fast execution…
Jalapenoninja,
do you want to share your templat with indicator?
I hope you want to share.
Thanks.
Wilco
Hi Eleanor,
Unfortunately no, I’m still working on tweaking a few of the indicators and I’ve put a bit of work into it, so will be keeping to myself for now. I can suggest these indicators though which can be googled:
- Murray Math Support & Resistance (post #1 of this thread),
- Markest Sessions Indicator (at adamjowett.com)
- daily High & Low indi
Cheers & all the best, JN
Please help… seems like a profitable system, but it’s not compatible with the latest version of Metatrader 4
Is it possible to load up each indicator separately in the new version of MT4?