MTF Supertrend Forex Scalping Strategy

November 4, 2016

771

MTF Supertrend Forex Scalping Strategy

This is a scalping system that follows the trend. One of the indicators used in this system that identifies the trend is the EMA or Exponential Moving Average. This is useful in a 15-minute timeframe. The applicable currency pairs to this system are EU, GU, AU, NU, UCAD, UJ and GJ.

Metatrader indicators:

Supertrend clear (is required for MTF Supertrend);
MTF Supertrend (TF 60, CCI 60, ATR -1);
UP Down Indicator (HL 4 this is price action indicator and repaint);
Exponential moving average 5-period (median price).
Conservative Trade:

Buy Entry:

SuperTrend MTF in sub-window line is color green.
SuperTrend clear on the chart line is color green.
Up down indicator dot is color green.
Enter position when the price retraces on 5 EMA.

Sell Entry:

SuperTrend MTF in sub-window line is purple.
SuperTrend clear on the chart line is red.
Up down indicator dot is color red.
Enter long entry when the price retraces on EMA 5.

Aggressive Trade:

The same conditions but use Supertrend on the chart, UP down and 5 Ema.

Exit position:

Place an initial stop loss on the previous high/low swing.
Target profit is at 20-30 pips.
Take profit on the pivot points level.

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