291# Megatrend Forex Scalping
Magatrend and Fip lines
Submit By Danny 15/02/2013
This is an trend following scalping system based on the indicator megatrend.
Time Frame 5min
Megatrend Forex Scalping Metatrader Indicators:
Indicator settings FIP_LINE default ;
ZIG ZAG POINTER default;
MEGATREND (hull moving average) PERIOD = 50 ;
RULES
Buy
FIP_LINE show trend up ;
wait for MEGATREND to change color (red to blue) to up, after FIP_LINE show trend up ;
Buy only whe the bar open above the pivot levels.
Sell
FIP_LINE show trend down ;
wait for MEGATREND to change color (blue to red) to down:
Sell only whe the bar open below pivot levels.
Exit Position
Repaintig zig zag pointer does not go to next candle support or resistance;
levels pivots has been reached;
Profit Target Predetermined : EUR/USD 8 pips, GBP/USD 9-10 pips, AUD/USD 6-7 pips.
In the pictures Megatrend Forex Scalping in action.
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