M1 scalping system with elements of Martingale
M1 scalping system strategy, as the name implies, is designed for scalping and can use in its work Martingale method.
Trading strategy settings
- Currency pairs: any.
- Timeframe: All calculations are made for the time frame M1. The system can be traded on other timeframes as well, but in this case the stop and take parameters will be different.
- Bidding time: any.
- Risk Management: In the case of the Martingale method, the first transaction should not be more than 0.5-1% of the deposit, otherwise - 2-5% of the deposit.
Used indicators
- #4X 3 Semafor Alert
- Auto-Pivot-Points
- BBands_Stop_v1_BAR
- Currency heat map - any
- DailyData
- FerruFx_Multi_info+_light_chart_v1.1
- FFCal
- GMACD_Signals
- Indovest-#Signal_Bars_v8D
- oanfx1cog8
- oanfx4cog
- RSI div
- Waddah_Attar_Explosion
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.
- Restart the terminal.
- Open the chart of the desired currency pair.
- Set the template with the name M1 scalping system.
The schedule should look like this:
Note: Be careful, the #4X Semafor Alert indicator overdraws and all subsequent entry point examples will be idealized.
Conditions for opening a long position
- A message appeared saying that a level 3 semaphore was found (a yellow circle with a white toothed surface around it).
- The trend indicator (on the right side) indicates that the current trend - ascending. The percentage must be at least 70 (the more the better).
- Indicator Currency Heat map on the relevant currency pair should be green (indicates the direction of the older trend on the TF H1-H4).
- The found level 3 semaphore must be near the thick green lines.
- The yellow and black lines of the RSI indicator should be below the 20 level.
Conditions for opening a short position
- A message appeared saying that a level 3 semaphore was found (a yellow circle with a red toothed surface around it).
- The trend indicator (on the right side) indicates that the current trend is downward. The percentage must be at least 70.
- The CurrencyHeat map indicator for the corresponding currency pair should be red.
- The found level 3 semaphore must be near the thick blue lines.
- The yellow and black lines of the RSI indicator should be above the 80 level.
Exit tactics
- Fixed stop loss and take profit. During the testing of the system the following optimal parameters have been found: stop - 45 pips, take - 12 pips. For "sluggish" currencies, the take is 7 pips.
- Stop - as in the previous case, exit - when a level 1 semaphore appears.
- Trailing Stop.
Using the Martingale method in the M1 scalping system strategy
The method is very risky, and before using it, do a thorough testing on historical data.
We calculate the amount of allowable loss, which is equal to the size of the average daily movement / 6.
Example:
- The size of the average daily movement of GPYJPY is 300 pips. The size of the allowable loss = 300 / 6 = 50 pips.
- We open a trade with a stop loss of 100 pips.
- If the loss on the current trade is 50 pips, open another trade with the volume of the lot, doubled.
- During the testing period (about 4 weeks) the maximum series of open trades was not more than 3 (0.1, 0.2, 0.4).
Download templates and indicators for M1 scalping system strategy