355# RSI and SFX MCL filtered by Trend Reversal Scalping System
Trend Reversal with RSI and SFX MCL
Stochastic indicator as filter
Submit by Janus Trader 19/06/2013
This forex scalping system is not for beginners.
In this forex scalping system Stochastic indicator is a great filter.
Time Frame 5 min or higher;
Currency pairs major: (EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD,).
RSI Indicator (5-period) with two moving averages 11 and 34 periods;
Stocastic Indicator (14,3,3)-low-High;
Trend Reversal indicator;
Rules:, RSI and SFX MCL filtered by Trend Revesal Scalping System
Long Entry
SFX MCL indicator line green >line blue
Wait crossing upward the RSI indicator, Moving Average of 17 and 34;
Trend Reversal indicator bars acqua;
Stochastic indicator crosses upward but is not in oversold Zone.
Not to Buy:
if the Stochastic indicator is in oversold Zone;(Stochastic as filter)
if the RSI indicator is >80;
Short Entry
SFX MCL indicator line green <line blue
Wait crossing downward the RSI indicator, Moving Average of 17 and 34;
Trend Reversal indicator bars red;
Stochastic indicator crosses downward but is not in overbougt Zone.
Not to Sell:
if the Stochastic indicator is in overbougt Zone;(Stochastic as filter)
if the RSI indicator is <20;
Exit position options
When SFX MCL Revesal position;
Profit Target 5-8 pips (example AUD/USD 6 pips, EUR/USD 7 pips, GBP/USD 8 pips);
exit at the pivot points levels;
Stop loss 10 pips below or above the entry bar.
This Scalping System is also good for binary options trading, see more.
