Scalping System by Machine

_______ @MachineLearn , do you Really make $$$ from this ?

Last week I did +10%.

Its win rate is well above 50%? What’s your concern?

____________ very Nice indeed , could you post ur trades here ?

https://www.forexfactory.com/thread/...ading?page=784

There is so many factors that determine wether your profitable or not.

this is just a mechanical approach to getting you in the market in some timely positions. Whether you’re going to make money comes down to you! Do you follow the rules all the time, do you study the charts, are you emotional, do you have good money management? I can’t answer this for you

huh

EURUSD NY SESSION RECAP

The only valid trade in my eyes was this 3 pip take profit after lunch.

This was interesting because the setup candle was actually the candle to create the Bearish Breakout Phase, which enabled a short bias.

Price came down right to the target level after about 30 minutes..

Even though the target was only 3 pips with about 1 pip of spread on EURUSD, you could have still done well here. You'll have to increase your position sizing if you want to scalp.

After this trade price came back over the 20EMA, and trading would have effectively ended shortly after here for this pair.

CADJPY NY SESSION RECAP

I want to use a different pair that correlates a bit different than EURUSD

Right at the bell price went into a Bull BP

First trade reacted well to start but price adjusted shortly after. Then roughly an hour and half later after some draw down price comes exactly to the TP. 7 PIPS

Second trade took profit in only 5 minutes. 5.6 PIPS

Take away is just how accurate the TP levels have been

ML, are you staying with a 1:1 RR or letting trades run when in profit?
I’m also playing around with your strategy here and will hopefully add something soon that may assist

Changes from trade to trade, I try to keep it as close to 1:1 as possible.

my take profit is always 1 times the setup candle’s range. But my SL isn’t always right at the setup candle high/low.

I enter at market and set tp and sl with limit orders

Looking forward to your input sir

Even though the ATR was not the best, price action/reaction on 6E (i.e. on the Futures version of EUR/USD) shows that some of the "Big Boys" may also keep an eye on this setup.

Nice. On M5 it also seems to broke structure to the upside and seems to be bullish for time being. But it is also close to breaking structure gain back to the downside...

ATR and Volume seem okay too, nice one

gonna try this strategy brother thanks for the share! btw what indicator of atr are you using in tv? i cant seem to find it and also are you trading with 1m tf or 5m is the lowest?

 

1. Candle Condition: Candle color must change.
2. Setup Bar Criteria:
   1. Setup bar must be a strong bar, closing within 75% of its range.
   2. Volume of the setup bar must be higher than the previous bar.

i still dont get it can you post some example from this rules brother

Ignore this if you please it's completely optional and not necessary to make money, but could be a worthy addition to the methodology.

There's another advanced mechanical method to determining HTF directional bias. It's a method that's used in another powerful system, but this scalping system can prosper from it. I'll mention it for food for thought.

There's a concept called Follow Through. Using the H4 as the anchor, we observe price as it approaches a powerful level. Personally I prefer Pivot Points.

The area between the last two pivot points is considered the dealing range. If price moves beyond it and hasn't printed a new pivot, just extend it.

Once a range is set, the top half of the range is considered "Premium" and the Bottom half of the range is considered "Discount"

You can only take short positions when price is in "Premium".

You can only take long positions when price is in "Discount"

If two bars close beyond the Pivot Point level we consider this a Strong Follow Through.

If one bar closes beyond the Pivot Point level and the next bar closes not beyond it, we consider this a Weak Follow Through

If price wicks beyond the Pivot Point level and the next bar closes not beyond the level this is considered a no follow through.

If price makes a No Follow Through to the downside, then we have Bullish Bias.
If price makes a No Follow Through to the upside , then we have Bearish Bias.
If price makes a Strong Follow Through to the upside, then we have Bullish Bias.
If price makes a Strong Follow Through to the downside, then we have a Bearish Bias.
If price makes a Weak Follow Through, trade cautiously

Once the dealing range and the premium/discount has been setup, on your entry timeframe you wait for price to sweep liquidity ideally inside a Killzone.

With this additional method you can target 1:2 RR and use more traditional SL's and TPs.

Once liquidity has been swept you can now start to look for scalping setups with the original setup. I'll post an example below.

I just use TradingView's built in ATR indicator but I change it from "Line" to "Histogram" in the settings.

I trade mainly on M5. You can trade M1 if you like it's all preference. I usually use M1 on Gold and Indices.

Hey guys, so I've been doing some scalping with this. I have found some edits that work well for me:

1. I wait for a retest of the 20EMA and use the bounce candle as entry
2. Bounce candle must be an engulfing

So far worked nicely - Here is my EU from earlier

USDCHF as well earlier

nice trade simple asf, do you have any other confluence or just retest in 20 ema then look for engulf

Hi, can you tell me whats the Histogram on TV you are using?
Thanks

Once I ignored the RSI ob