Zee Zee Forex Scalping Strategy For MT4
The Zee Zee Forex Scalping Strategy For MT4 which works best when traded on the five minute and the one minute time frames. The name Zee Zee comes from the fact that this system uses a popular technical trading tool known as the Zig Zag indicator.
What is refreshing about the indicator is that it simplifies the representation of the price action into actual Zig Zags so that traders can then generalize up and down cycles as they form. Traders can use this system on all the major pairs which they known in the currency asset trading class.
Included in this strategy are few indicators. There is an indicator which goes by the name of Megatrend - this indicator helps with trend direction detection and therefore it essentially serves as a directional filter in the bigger scheme of things. Then there is the actual Zee Zee indicator and the Swing zz indicator.
The entry rules for this system are simple. For the short entry scenario the trader must wait for the ZZI14 indicator to be above 100 with the the Red color. Being on the look out for strong bearish candle formations also serves the trader well as they go about looking for entries. Once these two conditions have been met then the trader may open a sell trade in the direction of the underlying trend as dictated by the Megatrend indicator.
Stop losses should be set to ten pips with the the take profit targets set to fifteen pips. This is not a difficult strategy to trade at all - similar but opposite rules work for the Long entry setup. Exercise proper risk and money management and do not force any trades when there is no valid setup visibly available.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
