Aggressive Trend Momentum Channel Scalping Forex Trading Strategy [8866]

Aggressive Trading with “Trend Momentum Channel Scalping Forex Trading Strategy” – Channel trading is known to work on the higher timeframes (H4 or higher). It is very simple and doable.

Many visual traders, even beginners, could easily spot a trending channel even without any assistance.

Let’s see if channel trading is something that could work even on the lower timeframes.

• Time Frame: M5 or higher
• Currency Pairs: Any

• Channel (Manual Channel)
• Stochastic Oscillator

• Download “ForexWOT.Com-TrendMomentumChannelSystem” (Zip/RAR File).
• Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
• Copy the “ForexWOT.Com-TrendMomentumChannelSystem.tpl” file (template) to your Metatrader Directory …/templates /
• Start or restart your Metatrader Client.
• Select Chart and Timeframe where you want to test your forex system.
• Right click on your trading chart and hover on “Template”.
• Move right to select “ForexWOT.Com-TrendMomentumChannelSystem” trading  system and strategy
• You will see “Trend Momentum Channel Scalping Trading System” is available on your Chart

• Channel (Manual Channel):
  • Identify an up-trending channel
  • Allow price to touch the support line of the channel
• Stochastics Oscillator:
  • Should be at the oversold level (below level 20 line)
  • Enter as soon as the fast stochastic line crosses the slow stochastic line
• Stop Loss:
  • A few pips below the low of the fractal caused by the bounce.
• Take Profit:
  • Target take profit would be at the same level as the body of the high of the previous thrust.
  • or you can use Risk-Reward Ratio 1:2

• Channel (Manual Channel):
  • Identify a down-trending channel
  • Allow price to touch the resistance line of the channel
• Stochastics Oscillator:
  • Should be at the overbought level (above level 80 line)
  • Enter as soon as the fast stochastic line crosses the slow stochastic line
• Stop Loss: A few pips above the high of the fractal caused by the bounce.
• Take Profit:
  • Target take profit would be at the same level as the body of the low of the previous thrust.
  • or you can use Risk-Reward Ratio 1:2

• The essence of this “Aggressive Trend Momentum Channel Scalping Forex Trading Strategy” is to transform the accumulated history data and trading signals.
• This strategy is a simple basic strategy that you could use and develop.
• There is a lot of noise in the minute charts Time Frames, but you could always add filters to lessen the noise.

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