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(binned per thread starter's request) Scalping at the 5m

  • #1
  • First Post: Dec 28, 2018 12:22pm Dec 28, 2018 12:22pm
Hey guys, i'm normally a swing trader and use the following strategy displayed at another thread i have: https://www.forexfactory.com/showthread.php?t=859423

I have another account for scalping, where i use the 5m chart to apply some simple rules

RULES:
- Usually 5m tf
- Wait for candle patterns
- Touch of Bolling Bands
- BB middle band (20ma) must be under the 50 ema for short or over for long
- RSI must be overbought for short and oversold for long

TIPS:
My main patterns are: Hammer, Doji, Spinng Top/bottom, Star.

INDICATORS:
RSI: 5 periods, close, overbout at 80, oversold at 20
BB: 20 period, 2.000 deviation, close
EMA: 50 exponencial moving average

TRADE MANAGEMENT
-Since it is a scalp strategy i usually go 1:1 Risk-Reward ratio,
-If the trend is clear i go for band to band TP.
-Sl is under the pattern + 1 or 2 pips for long, and over the pattern considering the spread
- Wait for pattern to validate.
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  • #2
  • Dec 28, 2018 4:20pm Dec 28, 2018 4:20pm
Hi,thank you for this strategy........

very nice strategy,I have also noticed some really good setups when on a short when the 20BB is still above the 50ema,instead of below and opposite for longs,I know this is not the rules but something I just point out.
  • #3
  • Dec 28, 2018 5:40pm Dec 28, 2018 5:40pm
Quoting scsstnt
Hi,thank you for this strategy........ very nice strategy,I have also noticed some really good setups when on a short when the 20BB is still above the 50ema,instead of below and opposite for longs,I know this is not the rules but something I just point out.
hey man cheers! well in acumulations it is nice, but i found that in longterm it can lead to losses! thx a lot for the reply! If any consideration or improvement please let me know! im always opened to new ideas!
  • #4
  • Edited 6:14pm Dec 28, 2018 6:02pm | Edited 6:14pm
I will do certainly...for now i'll stay with your rules ----- as you said,long term gains are where the profits should be focused,thanks very much.
  • #5
  • Dec 28, 2018 6:07pm Dec 28, 2018 6:07pm
Hi WD

This looks a lot like the TMA Extreme thread strategy except your’e using a Bollinger band instead of starc bands. Both strategy’s get a similar result.
You could get up to 80% strike rate here, good luck.
Trading thin liquidity at the boundary of the charts
  • #6
  • Dec 28, 2018 6:16pm Dec 28, 2018 6:16pm
I forgot to say I have build a Reversal EA from a Bollinger Bands strategy system much like you have just described last year. It is my most profitable EA.
This strategy should also work well on H1 and H4 but only if you apply multiple trades that uses a take profit target.
Trading thin liquidity at the boundary of the charts
  • #7
  • Dec 28, 2018 6:46pm Dec 28, 2018 6:46pm
Good strategy. Keep going
  • #8
  • Dec 28, 2018 7:29pm Dec 28, 2018 7:29pm
Quoting RickM
I forgot to say I have build a Reversal EA from a Bollinger Bands strategy system much like you have just described last year. It is my most profitable EA. This strategy should also work well on H1 and H4 but only if you apply multiple trades that uses a take profit target.
Can you explain that strategy, please?
  • #9
  • Dec 28, 2018 9:59pm Dec 28, 2018 9:59pm
Quoting Jordi
{quote} Can you explain that strategy, please?
This is WDaouFX's thread so lets stick to his / her rules ( look out for my thread mid next year ).
Trading thin liquidity at the boundary of the charts
  • #10
  • Dec 29, 2018 5:41am Dec 29, 2018 5:41am
Let's try this one 2
default set is not recommended, specially on lower time frames
Attached File(s)
File Type: ex4 WD-ScaLpeR.ex4   281 KB | 871 downloads
  • #11
  • Dec 29, 2018 3:52pm Dec 29, 2018 3:52pm
Woooow so much movements here, great to see you all sharing ideas ! lets keep it up!
  • #12
  • Dec 29, 2018 3:52pm Dec 29, 2018 3:52pm
Quoting RickM
Hi WD This looks a lot like the TMA Extreme thread strategy except your’e using a Bollinger band instead of starc bands. Both strategy’s get a similar result. You could get up to 80% strike rate here, good luck.
thx man, ill check this thread up as soon as possible!
  • #13
  • Dec 30, 2018 8:30pm Dec 30, 2018 8:30pm
Quoting dicojoxaftr
Let's try this one 2 default set is not recommended, specially on lower time frames {file}
Thanks for sharing dicojoxaftr.
I don't suppose you would have the mql4 file as I would like to try to make some improvements if I can.
The posted version I have problems with as I am unable to find any setting that will make it profitable for me.
Thanks in advance.
  • #14
  • Dec 30, 2018 9:20pm Dec 30, 2018 9:20pm
thanks for sharing man im subscribe
  • #15
  • Jan 1, 2019 6:02am Jan 1, 2019 6:02am
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  • #16
  • Jan 1, 2019 7:51am Jan 1, 2019 7:51am
Quoting scsstnt
{image}
happy new year to all!
  • #17
  • Jan 1, 2019 7:57am Jan 1, 2019 7:57am
Quoting WDaouFx
{quote} happy new year to all!
Thank you WD.....i'm identifying some super entries...on back testing charts....so far no draw-down,even on various time frames :-)
  • #18
  • Jan 4, 2019 4:05pm Jan 4, 2019 4:05pm
Happy New Year

Please can you tell me the settings of the grey moving averages you use? The one that has 3 lines

Thank you
  • #19
  • Jan 4, 2019 5:57pm Jan 4, 2019 5:57pm
Quoting Bluebag
Happy New Year Please can you tell me the settings of the grey moving averages you use? The one that has 3 lines Thank you
that is in my.other thread!
  • #20
  • Jan 4, 2019 6:50pm Jan 4, 2019 6:50pm
Quoting WDaouFx
Hey guys, i'm normally a swing trader and use the following strategy displayed at another thread i have: https://www.forexfactory.com/showthread.php?t=859423 I have another account for scalping, where i use the 5m chart to apply some simple rules RULES: - Usually 5m tf - Wait for candle patterns - Touch of Bolling Bands - BB middle band (20ma) must be under the 50 ema for short or over for long - RSI must be overbought for short and oversold for long TIPS: My main patterns are: Hammer, Doji, Spinng Top/bottom, Star. INDICATORS: RSI: 5...
This strategy do you use only in this pair?
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