Scalping Chimp Forex Scalping Strategy

August 9, 2016

547

Scalping Chimp

This is another strategy that helps traders for scalping. This is easy if understood clearly. Use a 5 minute in EURUSD, GBPUSD and AUDUSD pairs. Indicators are listed below:

ADXVMA16Bar
ADXVM12Bar
TLOMI Nonlag v.4
Chimp2.1 with ma
MA Cross OC

For LONG entry:

ADXVMA12Bar and TLOmi non lag must be greater than ADXVMA16 Bar;
MA is greater than Chimp2.1;
Wait for the blue arrow MA Cross OC.

For SHORT entry:

ADXVMA12Bar and TLOmi non lag must be less than ADXVMA16 Bar;
Ma is less than Chimp2.1;
Wait for the red arrow MA Cross OC.

To exit position, wait for the red arrow to appear if you have a buy position. When the blue arrow appears on a sell position, exit the position.

Take profit at 7 pips for EURUSD, 9 pips for GBPUSD and 5 pips AUDUSD.

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