TMT Scalping System Short-Term Trading Strategy

TMT Scalping System trading strategyDespite the name, it is a prime example of a trend-following system. The essence of this short-term trading strategy is that we are working on a breakdown of the sloping trend line in the direction of the trend of the higher timeframe. Discussion of TMT Scalping System strategy takes place at forexfactory.com in on this topic.

Input parameters

• Currency pairs: any.
• Timeframe: M5, M15.
• Bidding time: London, New York.
• Risk Management: after the calculation stop loss choose such a lot volume that the risk was not more than 2-5% of the deposit on one transaction.

Setting up the price chart

1. Unpack the archive.
2. Copy the template into the templates folder.
3. Copy the indicators to the folder MQL4 -> indicators.
4. Restart the terminal.
5. Open the chart of the desired currency pair.
6. Install the template with the name BP Trade.

The schedule should look like this:

Signals indicating the opening of a long position (buying)

1. The current daily candle is green.
2. The FxGlow RSI Filtered indicator has a blue bar.
3. The FxGlow MFI Meter indicator has a green bar.
4. Blue moving average is above the yellow one (current TF trend is directed upwards).
5. The price rolled back into the moving average space from the top down.
6. We draw a sloping trend line on the local highs and wait for its breakdown.
7. A stop loss is placed under the nearest local minimum.

Signals indicating the opening of a short position (sale)

1. The current daily candle is red.
2. The FxGlow RSI Filtered indicator has formed a pink bar.
3. The FxGlow MFI Meter indicator has a red bar.
4. The blue moving average is below the yellow one (trend of the current TF is directed down).
5. The price rolled back into the moving average space from the bottom up.
6. Draw a sloping trend line on the local lows and wait for its breakdown.
7. The stop loss is placed over the nearest local maximum.

TMT Scalping System trading strategy uses a combination of indicators to determine the signal to enter, the essence of which is a slightly adapted version of Elder's three screens system.

We believe that with some tuning and optimization of the indicators, the trading strategy can be used not only for short-term trading, but also for longer-term trading.

Download template and indicators

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