Momentum Trading Forex Scalping Strategy
This is a system that are based on 2 indicators, namely the momentum scalper and the Ergodic BH indicator. There are 2 options to trade in this method and one of these is trading in the direction of the trend. Rules will be provided below. Use this method in a 5-minute timeframe. This works on major currency pairs with a spread greater than 0.0001 or less than 1 pip. Avoid trading before the news.
Metatrader indicator:
- Momentum Scalper indicator ( 5 , period);
- BH Ergodic indicator (1, 2,2,2,2,).
Buy Entry:
- The black bar of the momentum scalper indicator must appear above the zero line.
- BH Ergodic indicator is greater than 0.
- Buy at the opening of the next bar.
Sell Entry:
- The black bar of the momentum scalper indicator must appear below the zero line.
- BH Ergodic indicator is less than 0.
- Sell at the opening of the next bar.
Exit position:
- Target profit is 4-5 pips for EU and AU and 5 pips for GU.
- Place stop loss below or above the entry bar.
For Trend Following Rules:
- Add two moving averages smoothed:
- moving average 25 period High;
- moving average 25 period Low.
Long Entry:
- Enter a long trade when the price is above the moving average high and use the previous rules stated above.
Short Entry:
- Enter a short trade when the price is below the moving average low and use the previous rules stated above.
Recommended MT4 Brokers
XM Broker
- Free $50 To Start Trading Instantly! (Withdraw-able Profit)
- Deposit Bonus up to $5,000
- Unlimited Loyalty Program
- Award Winning Forex Broker
- Additional Exclusive Bonuses Throughout The Year
>> Sign Up for XM Broker Account here <<
FBS Broker
- Trade 100 Bonus: Free $100 to kickstart your trading journey!
- 100% Deposit Bonus: Double your deposit up to $10,000 and trade with enhanced capital.
- Leverage up to 1:3000: Maximizing potential profits with one of the highest leverage options available.
- ‘Best Customer Service Broker Asia’ Award: Recognized excellence in customer support and service.
- Seasonal Promotions: Enjoy a variety of exclusive bonuses and promotional offers all year round.
>> Sign Up for FBS Broker Account here <<
Click here below to download: