61# Price Trigger Signal Scalping

Submit by Janus Trader

Scalping with Price Trigger Signal is an old system that a site reader sent to us that he found on the MQL5 forum. It should be underlined that old is not synonymous with gone. The reader's request was to make the Trading System more efficient.: I think the proposed strategy is a good basis for a 5 and 15 minute scalping system. The strategy is based on Price trigger signal, volatility pivot open, not lag but, percent victory. My modification was to add an additional filter and increase the period of the not lag dot but for the time frame by 5 minutes.

Setup Strategy for 5 min time frame.

Indicators MT4

Volatility Pivot Open default setting.

Percentage Victory 0.04.

Not the dot 30 periods for 5 min chart.

Chandelier Stop length period 15, atr period 21, Kv period 4.5,

Price trigger period 0.04.

Trading Rules

Always trade in the direction of the trend defined by the Chandler Stop indicator.

Buy

Chandelier blue line below the price.

Arrow green below the candle.

Price Trigger>0

The best entry is when the price retraces and the Price trigger signal then rises to >0.

Sell

Chandelier blue line above the price.

Arrow red below the candle.

Price Trigger<0

The best entry is when the price retraces and the Price trigger signal then rises back to <0.

Exit position

Predefined profit target in relation to the currency pair or support and resistance areas.

Initial stop loss on the previous high/low swing then follow the position with the trailing strop.

I always prefer to enter on the retracement. By retracement I mean that the price must approach the yellow line on the main chart. Using this system it is really very simple to enter the price retracement. When you know the system No lag dot but can be omitted.

Examples of trades.

Scalping with Price Trigger Signal

Scalping with price trigger.rar

compressed file archive 56.9 KB

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Bwang Scalping

Submit by JanusTrader

Time Frame 5min.

Pairs:AUD/USD, EUR/USD, GBP/USD.

Indicators

Bollinger Bands

Moving Average

MA Ribbon

MACD 4CZ

MACD Twoline

KGMA 1.3

Dolly Graphic V.10

Long Entry:

Price in Buy Area MA 200> Middle Bollinger Bands (290),Ribbon Green and MACD Dodge Blu

Short Entry:

Price in Sell Area MA 200 <Middle Bollinger Bands (290) and Ribbon Red and MACD Maroon.

Exit Position

Place Stop loss on 200MA.

Profit Target: on upper or lower bands. (To see example).

Bwang3 Without Dolly graphic 3

Long entry

MA 200 >Middle Bollinger Bands (290),Ribbon Green and MACD Dodge Blu. Re-Entry on retracement on ribbon whit macd dodger blu.

Short Entry:

200MA<Middle Bollinger Bands (290) with Ribbon Red and MACD Maroon.Re-Entry on retracement on ribbon whit MACD maroon.

Write a comment

Comments: 1

#1
Josh (Thursday, 18 February 2016 00:33)

Hello you can tell me which is each indicator on the chart and the settings of the band bollinger. Thank you so much.