XXL 1 Minute Forex Scalping Strategy For MT4
The XXL 1 Minute Forex Scalping Strategy For MT4 is designed for busy traders. If you love to do multi-task without missing any good signal, this strategy might be the perfect one. But this strategy has some issues with the RR ratio.
In general, the fixed stop for this strategy is 45 pips but the take profit is set to 15 pips. So, you will be trading with a negative RR ratio. But the high winning percentage of this system tends to offset the problem associated with the negative RR ratio.
The strategy requires multiple adjustments of the MT4 indicator. But you don’t have to do this work since you can install the ex4 file for this strategy and the chart will be automatically prepared for your trading. At first glance, you might be confused by seeing too many variables in the chart but things are really simple.
Long entry should be taken when the following conditions are met. The reading of the RSI must be above 20. A small flower-like marking will appear at the bottom of the chart. And the price must trade well above the two parallel lime green lines. If the conditions are filled, wait for three small dots below the candle. After the third dot is formed execute the long trade with the predefined stop loss and take profit.
The short order is triggered when the price bears the blue bands. Wait for the flower-like structure. After that wait for three small red color dots and analyze the reading of the RSI. If it is above the 80 levels, go for the short trade. Note that if the colored flower is formed when the price is not close enough to the blue or lime green band, the traders should not be taken. The closer the flower is to the band, the higher the quality of the signal. Analyze the strategy chart for a few hours and you will realize why you have to take the trades near the bands.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
