The high profitable forex scalping strategy is a system that is built to allow you scalp the currency market for small profits when the best opportunities present itself. The bane of the strategy is to ultimately accumulate these series of little profits into massive payouts over a period.
Chart Setup
MetaTrader4 Indicators: ZigZagArrows.ex4 (12, 5, 3), Forex Analyzer PRO (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minutes, 15-minutes, 30-Minutes, 1-Hour
Recommended Trading Sessions: Any
Currency Pairs: Any low spread pair (EUR/USD, GBP/USD, USD/JPY,…)
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Buy Example (click the image for full size):
Fig. 1.0
Strategy
Long Entry Rules:
Take a bullish stand in the market upon seeing the following chart and indicator patterns:
- Watch out for a blue colored ZigZagArrow (12, 5, 3) custom indicator arrow that points upward and is aligned below price bars.
- Keep an eye on the upward pointing green Forex Analyzer PRO arrow. A bullish signal is in place when the green Forex Analyzer PRO custom indicator is aligned below price bars.
N.B. One critical thing about this strategy is to ensure that once the ZigZagArrow (12, 5, 3) custom indicator issues a signal, the buy signal is valid if the Forex Analyzer PRO custom indicator issues its signal within the next 3 successive candles.
If nothing happens, then we wait for another ZigZagArrow (12, 5, 3) custom indicator, wait within the next 3 candlesticks for the Forex Analyzer PRO signal.
Stop Loss for Long Entry: Place stop loss 5-15 pips (5 pips for M1 & M5 charts) below the low of the price bar that precedes the entry price bar.
Exit Strategy/Take Profit for Long Entry:
The conditions for exiting your position(s) are as follows:
- Wait for a blue colored ZigZagArrow (12, 5, 3) custom indicator arrow pointing southward and is aligned above price bars.
- Look out for a southward pointing red Forex Analyzer PRO custom indicator that is aligned above price bars.
N.B. Any of the conditions stated above will suffice for an exit/take-profit stance in the market.
Sell Entry Rules:
Initiate a sell entry when the following conditions are in place:
- When the red smaller arrow of the ZigZagArrow (12, 5, 3) custom indicator points downward and is aligned above price bars, it signals a bears market.
- When the red Forex Analyzer PRO arrow points downward and is also aligned above price bars, an eminent sell is in the horizon.
Stop Loss for Sell Entry: Place stop loss 5-15 pips (5 pips for M1 & M5 charts) above the high of the price bar that precedes the entry price bar.
Exit Strategy/Take Profit for Sell Entry: Deciding on when to exit a trade can be tricky, but with the right rules, it becomes an easy task:
- Check for the ZigZagArrow (12, 5, 3) custom indicator that is aligned below price bars and points upward.
- A green Forex Analyzer PRO custom indicator that is aligned below price bar and also points upwards to the upside.
Any of the conditions will be sufficient for an exit strategy or take profit.
Fig. 1.1
Free Download
Download The High Profitable Forex Scalping Strategy.
About The Trading Indicators
The ZigZagArrow (12, 5, 3) custom indicator uses arrows to depict its signal. A downward facing arrow that is aligned above the price bars is indicative of a “Sell,” while an upward facing arrow that is aligned below the price bars reveals buying pressures i.e. a “Buy” signal.
The Forex Analyzer PRO custom indicator is a trend analyzer that monitors charts by offering a full alert package.