Envelopes Forex Scalping

 Envelopes Forex Scalping

 

Frame 5 min

Currency pairs:majors.

Session Trading Berlin

Indicators:

Trend22

EMA55

envelope 55deviation 0,13%

envelope 55deviation 0,21%

envelope 55deviation 0,34%

The indicators setup value are nubers of
the 
Fibonacci sequence: 1, 1, 2, 3, 5, 8, 13, 21,34, 55,….

Long Entry

The trend22 indicator has to turn from red to green.

The price has to close above the white EMA line. The candle that is closing above
is called the set up candle. If the candle that is closing above the white line also is closing above the first red line the trading signal is not valid.

You place a pending Long
position
 3 pips below the high of the
set up candle.

 

You place the stop loss 1 pips above recent swing.

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If you are in a short trade or long trade you ignore all new signals as your
trade is open.

Profit Target at the firs blue envelope or
7-10 pips

Short Entry

The trend22 indicator has to turn from green to red.

The price has to close below the white EMA
line. The candle that is closing below is called
the set up candle.

If the candle that is closing below the white line also is closing below the
first red line the trading signal is not valid.

You place a pending short position 1 pips below the low of the set up candle.

You place the stop loss 3 pips above recent swing.

Profit Target at the first red envelope or 7-10 pips

 

 

In the pictures Envelopes Forex Scalping
in action.

 
 

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strategy.

  • Platform: Metatrader4
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • How to install MT4 indicator?
  • 1. On the desktop, double-click to open the MT4 trading platform software you installed.
  • 2. Click on “File” – “Open Data Folder” in the upper left corner, double-click the MQL4 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT4, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window