Pet-D Scalping System For MT4

Pet-D Scalping System For MT4

The Pet-D Scalping System For MT4 is an Intraday forex trading system which makes use of the intraday pivot levels as well as some additional indicators. As evident from the charts, the Pet-D scalping system makes use of the signals derived from the oscillators in the two sub windows. Interestingly, on the main price chart we only have the intraday pivot levels as a guidepost for the trades.



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There is a custom indicator that is applied to the price bars which tends to change colors depending on the trends. As a result, this new addition to the price bars indicator basically tells you whether the market is moving up or down. It helps also in terms of reducing the noise in the markets. Traders can look at how price action is interacting with the intraday pivot levels and then take a trading decision upon confirmation from the indicators in the two sub windows.


In the first sub window, we have the trend CCI indicator. This is a modification of the traditional commodity channel index indicator. It makes use of both the trend CCI and the entry CCI indicator. As a result, dis custom indicator shows you the regular CCI indicator but in a different view. This indicator oscillates around the zero level and can show you the up and down trends in the market depending on how the histogram is positioned.


Traders should also pay attention to how The trend CCI indicator is positioned in order to confirm whether the market movement is to the downside or to the upside. Following this, in the second sub window of the Pet-D scalping system, we have the regular RSI or the relative strength index indicator.


The relative strength index indicator it makes use of a setting of four. Unlike the traditional set up of the relative strength index indicator where you see the overbought and oversold levels, here we have the mid-levels of 55 and 45. The market trend is considered to be strong and to the upside when the RSI indicator is above the level of 55. Similarly, when the RSI indicator hits the level of 45, and moves slow work it is a signal that the market momentum is to the downside.


Let's now take a look at how you can trade long and short positions using Pet-D scalping system for MT4.




Pet-D Scalping System For MT4 – Long positions




To take long positions using the Pet-D scalping system, traders should look to the price action as the first point of entry for their trades. Look for a bullish trend to emerge and then immediately look to the indicator in the first sub window. This would be the trend CCI indicator. Ideally, at this point the trend CCI indicator should be gradually moving from making lows to highs.


You will also notice that in some cases the trend CCI indicator might already move above the zero line. This is when the market momentum is strongly to the upside. Following this, look to how the relative strength index indicator is looking like. Ideally, the RSI indicator must be above the 55 to 45 level.


When you have both the indicators in the sub windows confirming that the market trend is to the upside, you can then safely take a long position at market. However, we recommend that you should wait for price to make a high and then make a retracement. Following this, set long pending order at the previous retracement high and set your stop loss to the low that formed. Based on this, you can set your take profit levels using a fixed risk to reward ratio or use the intraday pivot levels as the targets for your trades.


We also recommend that in order to capture the strong trending markets, traders should also pay attention to their positions. We recommend opening at least two position such that when the first position is closed, you will move your trade to break even. The second position will help you to capture bigger profits when the market breaks out in a strong trend which can be sustained.




Pet-D Scalping System For MT4 – Short positions




To take short positions using the Pet-D scalping system, traders should look to the price action as the first point of entry for their trades. Look for a bearish trend to emerge and then immediately look to the indicator in the first sub window. This would be the trend CCI indicator. Ideally, at this point the trend CCI indicator should be gradually moving from making highs to lows.


You will also notice that in some cases the trend CCI indicator might already move below the zero line. This is when the market momentum is strongly to the downside. Following this, look to how the relative strength index indicator is looking like. Ideally, the RSI indicator must be below the 55 to 45 level.


When you have both the indicators in the sub windows confirming that the market trend is to the downside, you can then safely take a short position at market. However, we recommend that you should wait for price to make a low and then make a retracement. Following this, set a short pending order at the previous retracement low and set your stop loss to the high that formed. Based on this, you can set your take profit levels using a fixed risk to reward ratio or use the intraday pivot levels as the targets for your trades.


We also recommend that in order to capture the strong trending markets, traders should also pay attention to their positions. We recommend opening at least two position such that when the first position is closed, you will move your trade to break even. The second position will help you to capture bigger profits when the market breaks out in a strong trend which can be sustained.




Is the Pet-D Scalping System For MT4 profitable?


In conclusion, the Pet-D scalping system is a short term scalping strategy. While it might take a bit of a learning curve to get accustomed in trading with this strategy, we can recommend the Pet-D scalping system even for beginners. This trading system can work best during the trending markets and also during the ranging markets. Traders need only to spend some time in understanding how the trend CCI and the RSI indicator can work together.


The Pet-D scalping system has a trading template that is also very lightweight and therefore you can use this to trade multiple instruments at the same time.


 

Download the complete system description and the files here:

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