Maksigen Scalping System For MT4
Table Of Contents:
- Maksigen Scalping System For MT4
- The Maksigen Scalping System For MT4 – Long positions
- The Maksigen Scalping System For MT4 – Short positions
- Is the Maksigen Scalping System For MT4 profitable?
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The Maksigen Scalping System For MT4 is a short term forex scalping strategy that allows you to trade both long and short positions within the trend. Consequently, the Maksigen scalping strategy is a both trend following and counter trend trading strategy. This trading system is ideally suitable for trading on the intraday charts such as the 15 minute or even the 30 minute chart time frame. As he can see, there are quite a few indicators used in the Maksigen scalping strategy.
The first indicator used in the Maksigen scalping strategy is clearly the Bollinger bands indicator. The Bollinger bands indicator makes use of the regular settings of 20, two. As you might already know, the Bollinger bands indicator acts as both a trend following indicator as well as a volatility indicator. The bands tend to contract and expand depending on the rising and falling volatility in the markets. In the Maksigen scalping strategy, the Bollinger bands are denoted by the red dashed lines.
The next indicator used in this trading system is the simple moving average crossover signals. This is a customized version of the regular moving average indicator. The only difference being that in the simple moving average crossover signal indicator, the moving average changes color from blue to red depending on the direction in the trend. This indicator also plots the up and down arrows whenever there is a moving average crossover.
In total, there are six indicators used on the price chart. Few of these indicators are only used for informative purposes as you can see. They can clutter the chart a little bit. There for traders are required to apply their discretion and decide whether they want to leave these additional indicators or not. However note that they do not add any additional edge to the trading system itself.
In the first tab window, we have the Williams percent range indicator. The Williams percent range indicator is basically an oscillator that moves across the overbought and oversold levels. The market momentum is there for gauge depending on how the percent range signal line is positioned in relation to the overboard and the oversold levels.
In the second sub window of the Maksigen scalping strategy, we have the Bollinger band stop indicator. This is a highly customized indicator which plots red and green histogram bars. In some ways, we find that this indicator is rather redundant and therefore traders could look at removing this additional indicator as well. Finally, we have the double commodity channel index indicator. This double CCI indicator plots two instances of the regular commodity channel index lines. Buy and sell signals are triggered depending on the crossover of these two CCI lines. There is also a histogram bar that moves across the zero line as well suggesting the market momentum.
Let's now take a look at how you can trade long and short positions using the Bull eye forecast strategy for MT4.
The Maksigen Scalping System For MT4 – Long positions
To take a long position using the Maksigen scalping strategy, trader’s should be first looking for a bullish crossover of the simple moving average indicator. This usually happens when price action is trading near one of the lower Bollinger bands line. Upon the bullish crossover of the two moving averages, you will get an alert as well with an arrow pointing to the upside plotted below the price.
You should now look to the indicators in the sub window to validate the upside bias. Start by looking at the Williams percent range indicator. Here, the Williams percent range signal line should be trading in the oversold levels indicating that the market momentum is shifting to the upside.
You can also look to the remainder of the indicators in the Maksigen scalping strategy to confirm your long position bias. You can now take a long position at market and set your stop loss to the recent swing low that formed. You can use the upper Bollinger band as the target line for your take profit levels.
The Maksigen Scalping System For MT4 – Short positions
To take a short position using the Maksigen scalping strategy, trader’s should be first looking for a bearish crossover of the simple moving average indicator. This usually happens when price action is trading near one of the upper Bollinger bands line. Upon the bearish crossover of the two moving averages, you will get an alert as well with an arrow pointing to the downside plotted above the price.
You should now look to the indicators in the sub window to validate the downside bias. Start by looking at the Williams percent range indicator. Here, the Williams percent range signal line should be trading in the overbought levels indicating that the market momentum is shifting to the downside.
You can also look to the remainder of the indicators in the Maksigen scalping strategy to confirm your short position bias. You can now take a short position at market and set your stop loss to the recent swing high that formed. You can use the upper Bollinger band as the target line for your take profit levels.
Is the Maksigen Scalping System For MT4 profitable?
In conclusion, the Maksigen scalping strategy is a forex trading system that makes use of a number of indicators which we find to be extremely redundant. Besides the fact that they cluttered the charts, they do not add much value or information to the trading system itself.
Therefore, we recommend that traders only keep the Bollinger bands indicator, the simple moving average crossover alert indicator, and the Williams percent range indicator. These three indicators together should be able to give you the same trading experience as the default trading system.
The trading template that comes with the Maksigen scalping strategy is relatively lightweight. However, there are too many alerts that pop up automatically. Therefore, if you load this template onto multiple instruments, it will completely overwhelm the trader.
With the above modifications suggested, the Maksigen scalping strategy can be used even by beginners and professional traders at all levels.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
