Eurusd Scalping system | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Blackdiamond System - Awesome scalping system (Coding Reqd) 9 replies

Paramon Scalping system. 10% deposit per day 7 replies

Scalping with crossover system 0 replies

Attachments: Eurusd Scalping system
Exit Attachments

Eurusd Scalping system

  • #1
  • First Post: Edited 4:32pm Jul 26, 2007 3:49pm | Edited 4:32pm
I've been using this system for the last few days with excellent results more then 40 pips per day. Back testing shows me that this system can create great results. I think an expert would do extremely well with this, if anyone is interested to code it. Here goes the system:

Eurusd 15 min chart
AO settings 2, 15
stop loss 15 pips including spread.
take a trade when it moves above or under 10 - wait for the bar to finish.
take profit is dictated by stop and reverse (this where an EA will make good use)
trail 10 pips.
if you have 3 consecutive losses then set a take profit of 10 pips for the next 3 trades.

Thats it.

Attached is the AO indicator which allows for user inputs:
Attached File(s)
File Type: mq4 AOwInputs.mq4   3 KB | 3,788 downloads
  • #2
  • Jul 26, 2007 3:56pm Jul 26, 2007 3:56pm
Quoting dav12028
I've been using this system for the last few days with excellent results more then 40 pips per day. Back testing shows me that this system can create great results. I think an expert would do extremely well with this, if anyone is interested to code it. Here goes the system:

Eurusd 15 min chart
AO settings 2, 15
stop loss 15 pips including spread.
take a trade when it moves above or under 0
take profit is dictated by stop and reverse (this where an EA will make good use)
trail 10 pips.
if you have 3 consecutive losses then set a take profit of 10 pips for the next 3 trades.

Thats it.

Attached is the AO indicator which allows for user inputs:
Thanks for sharing with us your system!
Just how do I install this? I'm new to MT4 .
If you help me I promise to tell you what results I get with it.
Money for nothin' and pips for free!
  • #3
  • Jul 26, 2007 3:58pm Jul 26, 2007 3:58pm
Install it in Program files/metatrader/experts/indicators
  • #4
  • Jul 26, 2007 4:07pm Jul 26, 2007 4:07pm
Quoting dav12028
AO settings 2, 15

Where to set this?

Thanks.
  • #5
  • Jul 26, 2007 4:08pm Jul 26, 2007 4:08pm
Right click: Properties / input tab
  • #6
  • Jul 26, 2007 4:12pm Jul 26, 2007 4:12pm
what's an ea and how do i turn it on/get it?
sorry for my newbisity
Money for nothin' and pips for free!
  • #7
  • Jul 26, 2007 4:12pm Jul 26, 2007 4:12pm
Quoting dav12028
Right click: Properties / input tab

ok thanks lot.

Can you explain more about this :

" take a trade when it moves above or under 0"
  • #8
  • Jul 26, 2007 4:14pm Jul 26, 2007 4:14pm
Quoting sifoorex
ok thanks lot.

Can you explain more about this :

" take a trade when it moves above or under 0"
go to the levels tab add a level of 0.0 then you'll notice the cross more clearly
  • #9
  • Jul 26, 2007 4:17pm Jul 26, 2007 4:17pm
Quoting ltklev
what's an ea and how do i turn it on/get it?
sorry for my newbisity
I've attached an indicator not an EA. do make the indicator work, in metatrader go to the indicator section under custom indicators you should see the AO indicator you just added. (note: after installing the indicator on your computer, you need restart metatrader for the new indicator to appear in the list)
  • #10
  • Jul 26, 2007 4:19pm Jul 26, 2007 4:19pm
Quoting dav12028
go to the levels tab add a level of 0.0 then you'll notice the cross more clearly
ok i've set it all right as you told. When is the right time to go for long/short position in eur/usd?

Thanks in advance.
  • #11
  • Jul 26, 2007 4:21pm Jul 26, 2007 4:21pm
Quoting sifoorex
ok i've set it all right as you told. When is the right time to go for long/short position in eur/usd?

Thanks in advance.
When the bar moves above 0 you go long opposite for short.
  • #12
  • Jul 26, 2007 4:26pm Jul 26, 2007 4:26pm
Quoting dav12028
When the bar moves above 0 you go long opposite for short.
Ok thanks. I do think this is good for short term strategy to gain 5-10 pips per position.
  • #13
  • Jul 26, 2007 4:29pm Jul 26, 2007 4:29pm
Quoting sifoorex
Ok thanks. I do think this is good for short term strategy to gain 10-20 pips per position.
to be more accurate I wait for a few numbers above or under 0, about +10 and -10, I should have stated that in the beginning.
  • #14
  • Jul 26, 2007 4:32pm Jul 26, 2007 4:32pm
Quoting dav12028
to be more accurate I wait for a few numbers above or under 0, about +10 and -10, I should have stated that in the beginning.
Where to check/see the number +10 or -10 there?
  • #15
  • Jul 26, 2007 4:40pm Jul 26, 2007 4:40pm
Quoting sifoorex
Where to check/see the number +10 or -10 there?
move the mouse over the bar and it will give you the number
  • #16
  • Jul 26, 2007 4:59pm Jul 26, 2007 4:59pm
Quoting dav12028
move the mouse over the bar and it will give you the number
i only saw -0.000xx not -10 as you told...
  • #17
  • Jul 31, 2007 10:23pm Jul 31, 2007 10:23pm
how to use this sytem?
can you post the screenshot.
thanks in advanced.
  • #18
  • Aug 1, 2007 2:36am Aug 1, 2007 2:36am
Quoting dav12028
I've been using this system for the last few days with excellent results more then 40 pips per day. Back testing shows me that this system can create great results. I think an expert would do extremely well with this, if anyone is interested to code it. Here goes the system:

Eurusd 15 min chart
AO settings 2, 15
stop loss 15 pips including spread.
take a trade when it moves above or under 10 - wait for the bar to finish.
take profit is dictated by stop and reverse (this where an EA will make good use)
trail 10 pips.
if you have 3 consecutive losses then set a take profit of 10 pips for the next 3 trades.

Thats it.

Attached is the AO indicator which allows for user inputs:
This seems like a very simple strategy in comparison to many that we see and ideal for an EA if there is no discretion involved.

Might be prudent to add in some multiple time frame parameters as a filter to stop taking trades against any big trends similar to the ones we have seen in the last week. otherwise could be good to go.

I haven't done any analysis on this yet so can't comment as to it's effectiveness, however, if it is as good as dav12028 says then it may be a useful tool in your trading toolbox.

Do you have the results of your backtesting dav that you could share?

Thanks,

G-Man
  • #19
  • Aug 2, 2007 3:05pm Aug 2, 2007 3:05pm
Quoting dav12028
I've been using this system for the last few days with excellent results more then 40 pips per day. Back testing shows me that this system can create great results. I think an expert would do extremely well with this, if anyone is interested to code it. Here goes the system:

Eurusd 15 min chart
AO settings 2, 15
stop loss 15 pips including spread.
take a trade when it moves above or under 10 - wait for the bar to finish.
take profit is dictated by stop and reverse (this where an EA will make good use)
trail 10 pips.
if you have 3 consecutive losses then set a take profit of 10 pips for the next 3 trades.

Thats it.

Attached is the AO indicator which allows for user inputs:

what mean about AO settings 2, 15 ? and how change the setting ?
please say more cleaner about entery
  • #20
  • Dec 18, 2007 11:59am Dec 18, 2007 11:59am
Hi, fellow trader.

Could u please post some charts with examples so we can discuss it more efficiently

happy pippin to all
0 traders viewing now