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Hello,
I have found this scalping tecnic in the neiborhood and wondering if we have an EA to do this :
Cheers
BLooksinterestingbutrreallyhardtotread.
LOL,
I didnt did anything else than copy paste the original thread so I will try to separate it a bit:
Scalping the Eur/Usd effectively.
Rules : Open a 5m chart and plot the following:
(1) 2 SMA and 5 SMA with a weighted close.
(2) Stochastics set at 5-3-3.
(3) ADX set at 4.
Trigger is when 2 SMA hits or crosses 5 SMA,
Stochastics read above 20 for a buy signal or below 80 for a sell signal,
and
ADX has converged or crossed from the bottom heading north.
The ADX colors I utilize are green for the +DI and red for the -DI.
Goal is to obtain 3 pips net profit per trade and stop loss is 5-6 pips
I personally use a MENTAL stop loss with all trades and have my finger set to close a trade at all times. This will help relieve the neccesity of adding a take profit and stop loss manually and ease concern for brokers who may or may not hunt stop loss levels. You will need to be quick on the trigger here and concentrate.
In addition, I never trade during major news announcements and trade from 5:00 a.m. to 11:00 am PST.
This time offers decent volatility and encompasses the later part of the London session and first several hours of the U.S. session.
With these simple rules, you can easily set up the stated peramaters and back test this system on your own. You will find it to be approx. 90% effective and generate approx. 8 - 12 trades daily during this time frame.
It is important to note that, as with other menchanical systems, all indicators are lagging so the best way to confirm signals is to have a 1m chart open and set the same indicators (with the same settings) to this chart.
There are no S/R levels and trend is not of paramount concern when seeking only 3 pips. Simple mathematics will indicate that, by trading one (1) full contract, one is easily able to generate $200.00 - $300.00 daily to begin with.
Obviously, as your account grows, you will be able to trade multiple contracts and earn a very nice income. If you want to actively trade - this works well, it is not a set and forget system. Further, it may be effective on higher TF's, but, I prefer the 5m exclusively. Like they say, "if it ain't broke, don't fix it". Thanks for your time and best of fortune trading.
Keith
All the above rules are relatively easy to embed in an EA from what i have seen you haver done here.
You may even put the rule of no trade half hour before and after the high importance news and set the specific hours of trading this method in London session only.You can hide the sl and tp from the broker.
I have run it a bit in ninjatrader replay and it is good.
3 net pips with mbtrading is at least 5 in order to pay the spread and the commision.The feed is good and scalping is allowed.
The whole scalping reminds me the rainbow technic of high lots few pips.
Cheers
B
Theere are aprox 10 trades in the following ninja trader chart.
hi guys;
thanks for the help. i 've done some search and and found that there is such indicator for Traderstation, Esignal and ninja trader but nothing for Mt4, i'm not a coder, but can it be done for mt4. Here's the code for the ninjatrader indicator that i found available on one of the forums, i'll post it here as refrence if someone is interested to make one for Mt4, if possible.
thanks
nt_code.txt
I have tried in ninja trader. Nothing special, don't bother it paints after two bars so its good only for history.
Cheers
B
I have tried in ninja trader. Nothing special, don't bother it paints after two bars so its good only for history.
Cheers
Bthanks blazer for the feedback
of the scalper...
Maybe this helps : TTM scalper set to a style that is not really predicted for
Simply use some ZigZag indicator and you are going to get the same results
LOL,
I
Goal is to obtain 3 pips net profit per trade and stop loss is 5-6 pips
Theere are aprox 10 trades in the following ninja trader chart.By taking 3 pips per trade you will have problems with your retails broker really soon. Unless the broker allows scalping (not retailers).
Anyone know of any similar scalping strategies they have been using successfully?
I am looking for a high frequency system since I am not able to be in front of the computer often. Anyone?
LOL,
I didnt did anything else than copy paste the original thread so I will try to separate it a bit:
Scalping the Eur/Usd effectively.
Rules : Open a 5m chart and plot the following:
(1) 2 SMA and 5 SMA with a weighted close.
(2) Stochastics set at 5-3-3.
(3) ADX set at 4.
Trigger is when 2 SMA hits or crosses 5 SMA,
Stochastics read above 20 for a buy signal or below 80 for a sell signal,
and
ADX has converged or crossed from the bottom heading north.
The ADX colors I utilize are green for the +DI and red for the -DI.
Goal is to obtain 3 pips net profit per trade and stop loss is 5-6 pips
I personally use a MENTAL stop loss with all trades and have my finger set to close a trade at all times. This will help relieve the neccesity of adding a take profit and stop loss manually and ease concern for brokers who may or may not hunt stop loss levels. You will need to be quick on the trigger here and concentrate.
In addition, I never trade during major news announcements and trade from 5:00 a.m. to 11:00 am PST.
This time offers decent volatility and encompasses the later part of the London session and first several hours of the U.S. session.
With these simple rules, you can easily set up the stated peramaters and back test this system on your own. You will find it to be approx. 90% effective and generate approx. 8 - 12 trades daily during this time frame.
It is important to note that, as with other menchanical systems, all indicators are lagging so the best way to confirm signals is to have a 1m chart open and set the same indicators (with the same settings) to this chart.
There are no S/R levels and trend is not of paramount concern when seeking only 3 pips. Simple mathematics will indicate that, by trading one (1) full contract, one is easily able to generate $200.00 - $300.00 daily to begin with.
Obviously, as your account grows, you will be able to trade multiple contracts and earn a very nice income. If you want to actively trade - this works well, it is not a set and forget system. Further, it may be effective on higher TF's, but, I prefer the 5m exclusively. Like they say, "if it ain't broke, don't fix it". Thanks for your time and best of fortune trading.
Keith
All the above rules are relatively easy to embed in an EA from what i have seen you haver done here.
You may even put the rule of no trade half hour before and after the high importance news and set the specific hours of trading this method in London session only.You can hide the sl and tp from the broker.
I have run it a bit in ninjatrader replay and it is good.
3 net pips with mbtrading is at least 5 in order to pay the spread and the commision.The feed is good and scalping is allowed.
The whole scalping reminds me the rainbow technic of high lots few pips.
Cheers
B
Theere are aprox 10 trades in the following ninja trader chart.Hello,
I have an account with mbtrading and there is no problem with scalping.From what I know there is no problem in IB and in currenex accounts.
The 3 pips are net profit so we are talking about 5-6 pips.
If we have something equivalent or tested in mt4 that is effective, we can translated in ninjatrader language and run it in mbtrading.
I am 100% sure about the permision to scalping in mbtrading.We had a live seminar last week and they told us no problem at all.As long as you trade we get paied our commisions.
So for 5-6 pips no problem at all.
Can we have this EA please if it is simple?
Thank you
B
accumulated turning point idea
could an indicator be made which adds up the times of market reversals for the previous months for each bar to attempt to predict times when markets reverse? e.g 7 am- 8am gmt it often reverses so you would expect a high reading there . Perhaps it could be adapted form a zigzag indicator.