Hello. I just came up with an idea for scalping on the M1 timeframe. Please give it a try!
Set the parameters for the luxago -PR and Parabolic SAR indicators to default.
Considering the PR indicator: When the current session has a blue middle line at a price higher than the previous session's blue middle line, we enter all buy orders based on the SAR. Each time the SAR appears, we enter a buy order.
Considering the PR indicator: When the current session has a blue middle line at a price lower than the previous session's blue middle line, we enter all sell orders based on the SAR. Each time the SAR appears, we enter a sell order.
Stop loss (SL) for buy orders at the bottom green line (PR lower 2).
Take profit (TP) for buy orders at the top red line (PR upper 2).
Stop loss (SL) for sell orders at the top red line (PR upper 2).
Take profit (TP) for buy orders at the bottom green line of the current session (PR lower 2).
Example of a Buy order as shown in the image:
We see that the Price Range (blue middle line) of session 2 is higher than the previous session 1. We will enter all buy orders when the SAR dot appears. Stop loss on the bottom line, take profit on the top line.
I think this method is more suitable for trending markets than sideways markets. What are your opinions? Let's share our thoughts!
Set the parameters for the luxago -PR and Parabolic SAR indicators to default.
Considering the PR indicator: When the current session has a blue middle line at a price higher than the previous session's blue middle line, we enter all buy orders based on the SAR. Each time the SAR appears, we enter a buy order.
Considering the PR indicator: When the current session has a blue middle line at a price lower than the previous session's blue middle line, we enter all sell orders based on the SAR. Each time the SAR appears, we enter a sell order.
Stop loss (SL) for buy orders at the bottom green line (PR lower 2).
Take profit (TP) for buy orders at the top red line (PR upper 2).
Stop loss (SL) for sell orders at the top red line (PR upper 2).
Take profit (TP) for buy orders at the bottom green line of the current session (PR lower 2).
Example of a Buy order as shown in the image:
We see that the Price Range (blue middle line) of session 2 is higher than the previous session 1. We will enter all buy orders when the SAR dot appears. Stop loss on the bottom line, take profit on the top line.
I think this method is more suitable for trending markets than sideways markets. What are your opinions? Let's share our thoughts!
Attached File(s)