Super Trend Forex Scalping System
The Super Trend Forex System is a very effective scalping system designed for trading the 1 minute trading charts. The main signal generator of this system is Forex Analyzer PRO which provides us with accurate entry-and exit signals. The RSI indicator is only used for trend direction.
Trading indicators: Forex Analyzer PRO, RSIFilter.mq4
Recommended trading style: Scalping
Timeframe: 1 Min chart
Pairs: Low spread currency pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD,…
Platform: Metatrader 4
Free System Download
Example: USD/JPY 1 Minute Trading Chart (Click the figure to enlarge to full size)
The figure above shows the USD/JPY one minute chart in an uptrend (RSI filter orange colored bars). Forex Analyzer PRO provided us with 4 excellent buy entry signals that were closed for +19 pips each (learn the trading rules below).
Trading Rules: Buy Trade
- RSI Filter indicator orange (up trend)
- Forex Analyzer PRO draws a green arrow on screen
==> Initiate a buy order and place a protective stop-loss slightly below support.
Close the buy trade at 1/10th of the average daily range provided by Forex Analyzer PRO (left corner of the screen). For the USD/JPY example, buy trades needed to be closed for 19 pips (average daily range: 191 pips).
Trading Rules: Sell Trade
Enter a short position when both conditions are met as shown below:
- RSI Filter indicator blue (down trend)
- Forex Analyzer PRO draws a red arrow on screen
==> Initiate a sell order and place a protective stop-loss slightly above resistance.
Take profit: Close the sell trade at 1/10th of the average daily range provided by Forex Analyzer PRO (left corner of the screen).