Panther Forex Scalping Strategy For MT4
The Panther Forex Scalping Strategy For MT4 was designed to be traded on the following currency pairs - GBPUSD, EURUSD and AUDUSD. Furthermore, there is only one time frame applicable to this strategy and that is the five-minute time frame.
If you choose to use other time frames please note that you will be doing that on your own accord through means deemed as experimental. There is no harm in doing so - provided you are able to backtest and manage your risk in an efficient way. But for now, just stick to the five-minute time frame.
The main indicators in this system are as follows - the Laguerre line indicator, signal alert indicator, and the MACD. These indicators have been combined to work together in an effective manner that increases your likelihood of making some decent returns. However, for you to realize good returns you need to maximize the trading system at hand because it has the potential to serve you fairly well if implemented correctly and accurately.
To take up a short position trade you have to wait for the signal alert indicator to give you a sell alert. Then the Laguerre line indicator has to cross the 0.75 level to the downside. Thirdly, the MACD has to be under the zero level or midpoint level. Once these conditions have come to life then you can open a sell trade but your stop loss will go just above the previous swing high.
To take up a long position trade you have to wait for the signal alert indicator to give you a buy alert. Then the Laguerre line indicator has to cross the 0.15 level to the upside. Thirdly, the MACD has to be above the zero level or midpoint level. Once these conditions have come to life then you can open a buy trade but your stop loss will go just below the previous swing low.
Your take profit varies with each financial instrument you use this trading system on. For the AUDUSD, EURUSD, and GBDUSD currency pairs your stop loss will be set as follows - 6, 8, and 10 pips respectively.
Download the complete system description and the files here:
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