5 minute scalping trading strategy for scalping and daytrading
5 minute scalping trading strategy is intended for scalping and intraday trading. It is based on an arrow indicator that gives a signal to enter at price reversal points. The peculiarity of the 5 minute scalping strategy is the use of a double filter, which increases the accuracy of market entries.
Input parameters
- Currency pairs: any with low spread
- Time frame (for scalping): М5
- Trading times: London, New York
- Risk management: Choose one lot sizeto risk no more than 2-5% of the deposit per transaction
Used indicators
- 5 min indicator
- 5 min arrow.
- Protofilter indicator (10 period)
- Pivot points levels.
Setting indicators and system template
- Unpack the archive with templates and indicators
- Copy the indicators to the folder MQL4 -> indicators
- Copy the templates into the templates folder
- Restarting the terminal
- Open the chart of the desired currency pair
- Install the template named 5 min scalping
The schedule should look like this:
Signals indicating the opening of a buy position
- an up arrow appeared;
- at least two dots and a bar of basement indicators in blue.
Signals indicating the opening of a sell position
- a down arrow appeared;
- at least two dots and a bar of basement indicators in red.
Setting Stop Loss and Take Profit in Scalping
- stop loss is set above/below the previous local maximum or minimum;
- Take Profit is set near the nearest pivot level. It is recommended to close the position when the arrow appears in the opposite direction.
5 minute scalping trading strategy for scalping and live trading looks very effective despite the seemingly simple entry rules.
Before using the 5 minute scalping trading strategy on a real deposit, we recommend testing it on a demo account.
Download 5 minute scalping strategy template and indicators
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Good day, and how to understand the importance of the levels of piot from the strategy salping 5 min, there is a designation there, Dr1 is a daily I understand, and there are also DPV DS1, DR1, mR1, mR2 them how to understand which are important and which are not?