Goldminer Forex Scalping Strategy For MT4
The Goldminer Forex Scalping Strategy For MT4 is to be deployed on the five-minute and 1-minute time frame. It is applicable to all the major currency pairs you find in the forex markets. There is nothing complicated about this scalping strategy - because all you need to do is monitor the colors of the indicators in this system. There are only three indicators used in the system.
These indicators are as follows - Relative Strength Index bars, a non lag dots indicator, and a Goldminer. The Goldminer indicator takes up the role of being the headline indicator in this strategy. The non lag dots indicator is also very useful - you will notice that when the price is trading above the dots the market is bullish and when it is trading below the indicator the market is bearish hence the blue and red corresponding color-code. The RSI Bars indicators works by showing you the direction of the market - blue bars indicate bullish strength and red bars indicate bearish strength.
For you to easily synthesize this strategy just think of two colors blue and red. Red is assigned to all the indicators for a sell trade and blue is assigned to all the indicators for a buy trade. To be more specific - for the long entry you need to first look at the state of the Goldminer indicator - in this case it must be blue in color. The non lag dot 200 indicator also has to be blue along with the RSI indicator.
For the Short entry - the goldminer indicator, the non lag dot indicator and also the RSI Bar indicator have to all be in a red color for you to open a short position. The exit rules are also straightforward. The take profit target is set seven to twelve pips. Then your stop loss must be five pips away from the non lag dot indicator which is dependent on which type of trade you are in.
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