Scalping trading strategy "Hunting for the trend"

Scalping trading strategy "Hunting for the trend" - is a system with mutual confirmation of a signal from several indicators. The strategy is discussed at forexfactory.com in on this topic.

Input parameters

• Currency pairs: GBPJPY.
• Timeframe: M5.
• Bidding time: London, New York
• Risk Management: After calculating the stop loss, choose this lot sizeto risk no more than 2-5% of the deposit per trade.

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 a template named Trend Hunt.

The schedule should look like this:

Signals indicating the opening of a long position (buying)

1. The blue line of the Vortex indicator is above the red line.
2. The green line of the TrendWave indicator is above the purple line.
3. The price broke the upper limit of the channel (FractalChannel(2) indicator).
4. Indicator Doda-BBands blue.
5. Stop Loss is placed just below the nearest local minimum.

Signals indicating the opening of a short position (sale)

1. The blue line of the Vortex indicator is below the red line.
2. The green line of the TrendWave indicator is below the purple line.
3. The price broke through the lower boundary of the channel.
4. Doda-BBands indicator is red.
5. A stop loss is placed just above the nearest local maximum.

Additional recommendations

The i_Sadukey_V1 indicator is used as a support/resistance level. When buying, it is desirable that the price was above the i_Sadukey_V1 indicator line, when selling - below.

Our experts believe that one of the disadvantages of the scalping trading strategy "Trend Hunt" is its application to the currency pair GBP/JPY, although, frankly speaking, this disadvantage is relative. The "Trend Hunt" strategy can be tested on other currency pairs, by adjusting the parameters of the indicators used, and use it with great efficiency during other sessions and other instruments.

It is worth recalling that Trend Hunt" trading strategy is intended for scalpingTherefore, it is not recommended to use it before, during or after the release of important economic news.

Download template and indicators

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