Scalp Modification scalping strategy: 80% profitable trades
Scalp Modification strategy designed for scalping on all currency pairs and is a further modification of the FX Prime strategies. According to the authors, compliance with the rules of the strategy brings up to 80% profitable trades.
Input parameters
- Currency pairs: any
- Timeframe: M1, M5
- Bidding time: any
- Type of strategy: scalping, indicator
Used indicators
- Fibo
- Pivot
- CCI
- RSI with a period of 8
- Heiken_Ashi_Smoothed
- EJ_CandleTime
- DoublecciWoody with parameters: Trend CCI (170),Entry CCI (34)
Buy entry conditions
- The Trend CCI(170) line has crossed the zero line upwards, is above it and shows an upward trend.
- The Entry CCI(34) line crossed the zero line in the same direction and is showing an upward trend.
- Value RSI indicator over 55
- The Heiken Ashi indicator has changed color to blue.
It is important to remember that it is risky to enter the market when the RSI indicator is in the 45-55 zone. It is necessary to wait for the crossing of the value of 55 in the direction of the transaction.
Stop Loss in the strategy is fixed and is 10 pips
Exit a position when the following conditions are met
- Heiken Ashi indicator has changed color to red
- The CCI line (34) crossed the zero line from top to bottom
Buy entry conditions
- The Trend CCI(170) line has crossed the zero line from above and is below it, showing a downward trend.
- The Entry CCI(34) line crossed the zero line in the same direction and shows a downward trend.
- RSI indicator value is less than 45
- The Heiken Ashi indicator has changed color to red.
It is important to remember that it is risky to enter the market with the RSI indicator value in the 45-55 zone. It is necessary to wait for the crossing of the value of 45 in the direction of the transaction.
Stop Loss in the strategy is fixed and is 10 points
Exit a position when the following conditions are met
- Heiken Ashi indicator has changed color to blue
- The CCI line (34) crossed the zero line upwards
According to ForTrader.org experts, you should not open trades against the trend on the M5 timeframe. You should also consider the Pivot and Fibo levels as support and resistance levels when making a decision to enter the market.
Download Scalp Modification Strategy Template and Indicators