Megatrend Forex Scalping Strategy
This is a scalping strategy that trade within the trend. It uses hull moving average to identify the trend. This is useful in a 5 minute timeframe. this works on any major currency pairs.
Metatrader Indicators:
- FIP_LINE default ;
- ZIG ZAG POINTER default;
- MEGATREND (hull moving average) PERIOD = 50 ;
- Pivot.
Buy Entry:
- FIP_LINE must show a trend up.
- MEGATREND must change color from red to blue and going up.
- Buy only when the bar open above the pivot levels.
Sell Entry:
- FIP_LINE show trend down.
- MEGATREND must change color from blue to red and going down.
- Sell only when the bar open below pivot levels.
Exit Position:
- Repainting zigzag pointer does not go to next candle support or resistance.
- levels pivots has been reached.
- Profit Target Predetermined: EURUSD 8 pips, GBPUSD 9-10 pips, AUDUSD 6-7 pips.
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