Top 8 trenders Brokers scalping Strategy For MT4
Table Of Contents:
- Top 8 trenders Brokers scalping Strategy For MT4
- The Top 8 trenders brokers scalping strategy – Long positions
- The Top 8 trenders brokers scalping strategy – Short positions
- Is the Top 8 trenders brokers scalping strategy good for you?
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 Top 8 trenders Brokers scalping Strategy For MT4 is a rather weird name for a forex trading strategy. Still, despite its weirdness, this trading system is made up of pretty much the same components off any other trading strategy. The only difference being that the title of this forex strategy is a bit of a mouthful.
The Top 8 trenders brokers scalping strategy is made up of quite a few indicators and as you look at the charts, you will notice that it presents quite a decent combination of indicators, with a little bit of clutter on the price chart.
The main indicators used in the Top 8 trenders brokers scalping strategy are the HOD LOD Close indicator. This indicator plots the high and low and close of the day. We aren't entirely sure on the usefulness of this indicator on the price chart. But some might argue that these levels could be used as potential take profit of stop loss levels.
We then have two moving average indicators. The first indicator is a 200 period simple moving average applied to the closing price. The second moving average is a 100 period linear weighted moving average applied to the closing prices. These two moving averages make up the Blue and Red lines respectively on the price charts.
We also have the 1 minute Clives Heiken Ashi indicator. This indicator plots the Heiken ashi candlesticks but based off the close on the one minute chart. They aren't that different, except for the fact that you can see the price trends easily on the chart.
In the first sub window of the Top 8 trenders brokers scalping strategy, we have the Clives histogram CCI indicator. This is an indicator that plots the CCI values as a histogram. It oscillates around the zero line and the bullish and bearish momentum in price is captured by the histogram's movements.
In the second sub window of the Top 8 trenders brokers scalping strategy, we have another instance of the Clives histogram CCI indicator. This indicator is set to the settings of a higher timeframe.
The basic idea behind the two CCI indicators is that using the lower indicator, you can determine the long term trend. And then using the information from the first indicator you can pick the turning points in price.
This is a great way to trade the markets by finely picking the turning points in price, while also keeping an eye on the trend using the Heiken Ashi indicators and the two moving averages. Let's now take a look at how you can trade long and short positions in the market using the Top 8 trenders brokers scalping strategy.
The Top 8 trenders brokers scalping strategy – Long positions
For long positions using the Top 8 trenders brokers scalping strategy, we start by looking at price trading above both the moving averages. The Heiken Ashi candlesticks that you see on the price chart need to also show that the uptrend is intact. After this, we then look to the second sub window. This shows the Clives CCI histogram indicator from the higher chart time frame.
We need to see this indicator showing an uptrend. This is possible when you see that the indicator is plotting green histogram bars, suggesting that the uptrend on the higher chart time frames is strong. Finally, we then look to the first sub window of the Top 8 trenders brokers scalping strategy. Here, once you see that the histogram is green, you should take a long position.
Set your stop loss to the low of the previous candlestick and ensure that you also add the stop loss a few pips below the low. Following this, you can either use the previous day’s high to set your take profit, or you could alternately use a fixed risk to reward set up of 1:3. This will ensure that your trades are more profitable.
The Top 8 trenders brokers scalping strategy – Short positions
For short positions using the Top 8 trenders brokers scalping strategy, we start by looking at price trading below both the moving averages. The Heiken Ashi candlesticks that you see on the price chart need to also show that the down trend is intact. After this, we then look to the second sub window. This shows the Clives CCI histogram indicator from the higher chart time frame.
We need to see this indicator showing a down trend. This is possible when you see that the indicator is plotting red histogram bars, suggesting that the down trend on the higher chart time frames is strong. Finally, we then look to the first sub window of the Top 8 trenders brokers scalping strategy. Here, once you see that the histogram is red, you should take a short position.
Set your stop loss to the high of the previous candlestick and ensure that you also add the stop loss a few pips above the high. Following this, you can either use the previous day’s low to set your take profit, or you could alternately use a fixed risk to reward set up of 1:3. This will ensure that your trades are more profitable.
Is the Top 8 trenders brokers scalping strategy good for you?
In conclusion, the Top 8 trenders brokers scalping strategy is a rather simple forex trading system. The signals are not that complicated and as a result, it makes it easy for traders to quickly pick up and learn trading forex with this method.
The use of indicators is quite decent, and one could say that the Top 8 trenders brokers scalping strategy is basically a trend following strategy. This trading system is designed to work on the 15 minute chart time frame. But you could adjust the indicators, especially the oscillators and make use of this trading system on higher chart time frames as well.
The template is relatively light weight and you can use this to monitor multiple instruments on the price chart without it freezing your MT4 trading terminal. For all the advantages that this trading system is to offer, we recommend using the Top 8 trenders brokers scalping strategy.
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