Simple Powerful M15 and M30 Forex Scalping Strategy For EURUSD. I will try to be very short so you can easy understand strategy rules. After Installing all necessary indicators and template let’s see what we have on chart. There are actually three indicators on our chart:
Strategy is based on three indicators:
1. Open Daily Line
2. ForexScalpingPro Check
3. and ForexScalpingPro Trader
daily open line.ex4
Open Daily Line (Red Line)
This line represent the price at the beginning of the day. This price is important, it’s represent gravity for price on chart.
ForexScalpingPro Trader (Arrows)
This arrows are created by Forex Scalping Pro Trader indicator. They suggest us about possible trades.
ForexScalpingPro Check (Alerts)
This indicator alert us that ForexScalpingPro Trader is found profitable trade.
We don’t want to complicated whole thing with unnecessary information, all you need is to follow alerts after strategy detect possible profitable trade.
This alert will suggest you to SELL or BUY. After you close alert box you will need follow simple rules for buy or sell depends what’s alert suggest you.
After you get alert to sell (red arrow will appear on chart) The price must be below Daily Open Line indicator, if so you are ready to sell.
How To Sell?
The most important sell rule:
Price is below daily open line (yelow line on chart), we enter only sell signals (red arrows)!
It’s easy! Check chart above, trend is bearish, candles are below red line (daily open on top chart). We had a signal and profit from it.
After you get alert to buy (green arrow will appear on chart) The price must be above Daily Open Line indicator, if so you are ready to buy.
How To Buy?
The most important buy rule:
Price is above daily open line (yellow line on chart), we enter only buy signals (green arrows)!
You need to find lastest price bottom or high point. It’s usually few candles back (3-4 candles).
- If you buy check few last candles and setup stop below it.
- If you sell check few last candles and setup stop above it.
Use 20-50 pips as take profit level. Depends of market condition.
I trade on eur/usd at M15 and M30 timeframes.