Stocycle Forex Scalping Strategy For MT4
The Stocycle Forex Scalping Strategy For MT4 consists of two main indicators I-High Low Middle indicator and the Stocycle indicator. This is a solid trend-following system to deploy in your trading because the rules are pretty straightforward. Furthermore, you can use this system to trade every available currency pair in the forex market.
Buy entries can be taken under the following conditions - when the stocycle indicator disc transforms into a dodger blue color. Secondly, the price has to be trading over and above the green line of the I-High Low Middle indicator. Once these two set conditions have come into being then you can go about finally opening a buy order.
Your stop loss should be at least three pips below the entry candle. Your take profit target will be exactly the same distance above your entry as compared to the length of your stop loss.
Sell entries can be taken under the following conditions - when the stocycle indicator disc transforms into a pink color. Secondly, the price has to be trading below the green line of the I-High Low Middle indicator. Once these two set conditions have come into being then you can go about finally opening a sell order. Your stop loss should be at least three pips above the entry candle.
Your take profit target will be exactly the same distance below your entry as compared to the length of your stop loss. However, if you are looking at a more quantitative and strict approach for setting predetermined take profit targets then you can use the following guideline. It details the TP targets for EURUSD, GBPUSD, AUDUSD, and USDCHF from time frame 15-minute to the daily.
So in the order of the currencies listed above your take profit will be as follows - 15- minute chart will be 8, 10, 7 and 7 pips, 30-minute will be 11, 14, 10 and 10 pips, 60-minute chart will be 14, 16, 12 and 12 pips. 4-hour chart will be 16, 18, 14, and 14 pips and the daily time frame will have the following corresponding take profit targets - 35, 40, 35, and 35 pips.
Download the complete system description and the files here:
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