Schaff Forex Scalping Strategy For MT4
The Schaff Forex Scalping Strategy For MT4 performs well on the major currency pairs. Ideally, you should be using this system on only two time frames - the 5-minute or the 15-minute timeframe. This is a systematic scalping approach which does not overwhelm you in your trading.
We have about four main indicators in this system and they all work together with great synergy. There is what is called a Schaff Trend Cycle indicator which shows you the up and down cycles as they happen in the trading markets. Then there is another Schaff indicator which is called the Schaff Trend indicator. This oscillator has oversold and overbought levels. Then there is an HMA indicator and a MACD Indicator.
The rules for going long are as follows - the Schaff Trend Cycle indicator has to be on the rise. Secondly, the Schaff Trend indicator has to be more or equal to 10. Thirdly, the MACD indicator has to be above the zero level and lastly, the HMA indicator has to be in a green state in order for you to buy.
When you have all these conditions in order then you are able to open your buy position. Ideally, it is best to put your stop loss just below the last previous swing low. The rules for going short are as follows - the Schaff Trend Cycle indicator has to be heading down. Secondly, the Schaff Trend indicator has to be below or equal to 90.
Thirdly, the MACD indicator has to be below the zero level and lastly, the HMA indicator has to be in a red state in order for you to sell. When you have all these conditions in order then you are able to open your buy position. Ideally, it is suitable to put your stop loss just above the last previous swing high.
Your take profit targets vary according to the currency pair you are trading. For AUDUSD it will be 6 to12 pips, for EURUSD it will be 8 to ten pips and for GBPUSD it will be ten to 15 pips. These are all sizeable potential gains for a scalping strategy.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
My Recommended MT4/MT5 Broker
