I think this indicators is very good for MTF Scalping, I´m using it myself on the M5 chart.
OBO-bars = standard settings 2
SELL: Wait for the first red candle and the orange dot = Ehlers MAMA-bands cross, plus that both bands goes BELOW the purple SMA 55 line.
BUY: Wait for the first green candle and green dot = Ehlers MAMA-bands cross, plus that both bands goes ABOVE the purple SMA 55 line.
EXIT = Red/Green dot = Ehlers MAMA-bands crossing.
Also use the auto Quickfib for retracement calculation.
RSI/CCI can be useful aswell, Enjoy
Dear Zabana , thank's for your excellent system . A question : where you place the stop loss and how many pips ? Thank in advance !
Hi, I use to have 10-15 pip in stoploss. More important i think is to find round numbers as 20-50-80 and place your stops in those areas.
I try to get 15 - 40 pips for each trade.
All the best
Thank's Zabana , you're very kind .
have you already won any significant profits with your system???
I´ve been running this for a month or soo. It works out very well during the European session / "London Breakout" = EURUSD /GBPUSD.
I´m trying to take approx 200-250 pip per week, but i dont trade everyday
Example today M5 chart EURUSD:
Good day for scalping. Enter on green arrows / exit on red ones
All the best Z
what I like about this strategy - that it is pretty simple, I just think it would be good to make several experiments with the stop loss
Pretty nice results. You are right, it's good day for scalping - let me also try. it will be just great if that will work out for me
Hi! Yes, You can have other stop loss /take profit alternatives.
Agressive scalpers can trade only the Green/Red candles if they want and not the DarkGreen/DarkRed ones.
I´m also using the MFI with alert for oversold/overbought
plus the DPO as an filter .
If U miss something just add it.
Thanks a lot.I will try and monitored it.Will comment later.Thanks againts.
My green and red dot seemed to be missing.
Ok, got the green and red dots by setting a value of 1 to the Signal Mode setting in Mama_V1.
Hmmm, what's the 31% indicates in the second graph?