Stochastic MTF Forex Scalping Strategy For MT4
The Stochastic MTF Forex Scalping Strategy For MT4 is a financial trading system which works on all currency pairs and it should be used on the 15 minute time frame which makes sense because it is a scalping strategy. There are many indicators included in this trading system but what will be beneficial to you is that each indicator comes with a description so that you are able to clearly understand its integration.
There is a clock indicator which obviously shows the time remaining before the next candlestick or bar opens. There is a Stochastic Crossing indicator which shows the intersection of the signal line and the normal line of the stochastic relative to the chart price. There is a Pivot points daily indicator which is used for showing possible places of where to exit the trade There is a Sessions indicator which shows the best places to trade in the market during the day.
There is a Market price W1 indicator - this indicator shows the price using the average price spread and the number of points from the opening price. For trend indication the HMA indicator used. In one window there is a Williams Percent Range indicator and a Stochastic Oscillator indicator. Additionally, in window two there is a MTF Stochastidcv 2.0 alert indicator which defines the trend of the 30 minute time frame. There are two more MTF Stochastic v 2.0 alert indicators included in window 3 - they define the trends of the hourly and 4-hour time frames respectively.
I will just touch on the short entry rules for this system because the rules for the long entry shares similar traits but are applied in an opposite logic. So for a short entry, the M15 Stochastic crossing indicator must show a sell signal pointing down. The Stochastic crossing and HMA must indicate the same direction. The MTF indicator must be aligned with the signal.
Enter a short trade at the next bar. Take profits should be taken at the daily pivot point. The trade could be exited when the WPR is oversold and when the stochastic has crossed to the oversold area.
Download the complete system description and the files here: