Scalping strategy to finish the year strong

The HCL that started the thread with modifications:


#FS30_4.ex4 (3.3 KB)
b_Regression_Analysis.ex4 (40.5 KB)
Forexsignal30.1.ex4 (6.3 KB)
TicksSeparateVolume.ex4 (14.6 KB)
Live Sup Res MT4.ex4 (17.1 KB)

Hi Mate. Thanks a lot for your answer and your time. I have just one question do you also have the Indicators files for MT5 or only MT4? Im asking because my broker doesnt work on MT4 so i have to use MT5 unfortunately. Thanks and good luck on trades :smiley:

Bobby,

I just use MT4, so I’m not familiar with 5. But the site I got most indicators off of does have MT5 indicators. Maybe they have some good ones for you that do the same things.

Pending Buy order at bottom of channel.


You’ve got some new ones!

USDJPY for the win!

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Hi AmericanTrader.How do you avoid pairs that are ranging? i see one in charts above EurUsd FX H1 for example.
Also for live trading for USA clients which broker is preferred.TIA

No worries. I’ve been trading on Oanda for over a year, no issues. I also traded on Trading.com for a short bit. Demoed with IG US.

Yup.

I still have over 300 indicators I haven’t looked at, so hopefully I’ll have that done yet this week.

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I got a win on that pair today as well.
Also made good profit on my GBP/CAD and GBP/Nzd.

Hi naren,

I have many charts open with many pairs so that I can find one that looks like is trending. If there isn’t one, I do often go to smaller timeframes that show trends during a ranging day.

Ranging is NO problem for trading and can be a lot of fun.

I know people say its wiser to not think we have to trade every day and we need to look for only very good setups. But honestly, I have not seen a day where there were no good opportunities to trade.

Plenty of good trades on the M5

The yellow support and resistance lines are
zigzag-support-and-resistance-indicator.ex4 (31.8 KB)

Easy money on M1 too

All the indicators show still in down trend.
So I went long :grinning:

If you have ever watched the YT videos about Master Trader Strategy, here is the chart I use that outlines it.

H1 Timeframe.

Basically, you enter a buy if the 6 and 25EMAs are heading toward the 150EMA and the 6 has crossed it.

You want at least the next 3 higher timeframes to be trending in upward direction.

After that, as long as candles are staying over the 150EMA, you enter subsequent long trades when 6 crosses over the 25ema and the next 3 longer timeframes show same direction.


tf-cycle-triangular-centerd-end-point-v1-nmc.ex4 (33.9 KB)
b_Regression_Analysis.ex4 (40.5 KB) (I set at 250)

M1 easy money

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Master with MA3 as 6 and 25 EMAs so I get the color change and the notifications sent to mobile for trend changes.

Good old CPI days.

I think a big part of my trading success comes from throwing out the idea of expecting a trade to be 1:1 or 2:1, or any other fixed profit expectations.

My SLs are often 2-3 times greater than my TPs, and 90% of the time I close out trades before TP is hit.

Then I monitor the charts the next few days and grumble about how I should have let them run.

But I see the account grow consistently and realize that it’s all leading me toward trading larger lot sizes and closing out even sooner, but with greater profits.

I got out of this trade when it reached the first resistance. I don’t like to stay in when I’m in profit and the 8:30est U.S. impact news is coming in a little over an hour.

Weekly chart, because price went against me yesterday on the H1.

Expecting 300 pips profit, hopefully by end of Nov.