373# Histogram MACD Scalping

High/Low Breakout

 

Submit by Scalpmaster 19/08/2013 (Written By Zain Agha)

 

This Trading System is based on the method High/Low Breakout.

 

ENTRY RULES:

Wait for the Candle to close.

Observer the colour of the Candle, the High and Low of the Candle and the MACD Histogram Bar.

1) If the Candle closes as a Red candle and the MACD Histogram Bar is also confirming to go short then we shall place a sell order one

pip below the low of this Candle.

If the MACD Bar is not confirmatory,we do not trade.

2) If the Candle closes as a Blue Candle and the MACD Histogram Bar is also confirming to go Long then we place a Buy order one pip

above the high of this candle.

If the MACD Bar is not confirmatory,we do not trade.

 

EXIT RULES:

IF YOU ARE SHORT

Once your order gets filled in, wait for the candle to close and observe where the next candle opens.

If the Next Candle opens one pip above the close of this candle, Exit immediately.

If the next candle opens below the close of this candle then stay in the market as its likely that the Market will continue going down and if

after opening one pip below this candle, the market goes up again, then exit as soon as it goes one pip above the close of this candle.

Sometimes after filling in your Sell order, the Market may go up against you. In that case Exit at the close of this candle with a loss.

IF YOU ARE LONG

 

Once your order gets filled in, wait for the candle to close and observe where the next candle opens.

 

If the Next Candle opens one pip below the close of this candle, Exit immediately.

 

If the next candle opens above the close of this candle then stay in the market as its likely that the Market will continue going up and if after opening one pip above this candle, the market goes down again, then exit as soon as it goes one pip below the close of this candle.

 

Sometimes after filling in your Sell order, the Market may go up against you. In that case Exit at the close of this candle with a loss.

 

We do not incorporate stop losses as at the most you will come out with a small loss however if you would like to use a stop loss you may set it to 50 pips away from entry. At the point of entry you may add your broker spread which should be 2 or 3 pips at the  most.

 

Do not place an order if the previous closing candle has a long spike or a larger than average range.

Do not to place an order just before the news unless you possess the "News FX Strategy" and you are trading in conjuction with

 

the News.

 

Histogram Scalping

Histogram Scalping
Histogram Scalping, High/Low Breakout, Template for MT4. This forex Strategy is also good for trading with Binary Options.
histogram macd scalping.rar
compressed file archive 664 Bytes

Real MACD Indicator

Real MACD Indicator
Real MACD Indicator
Real MACD Colored.rar
compressed file archive 1.3 KB

Write a comment

Comments: 3
  • #1

    rokasearner (Thursday, 22 August 2013 22:33)

    I created an expert adviser but results are not so good, It need to be improoved

  • #2

    Forextradingstrategiesresources (Thursday, 22 August 2013 22:39)

    Share the code.

  • #3

    rokas (Sunday, 25 August 2013 12:43)

    Hmmm, I dont know where to upload it :D