Perky Scalper Forex Trading System For MT4
Most traders start trading with visions of grandeur and making a quick buck. Maybe this is the reason that most of us start with scalping. Maybe it is just the excitement of getting to know a new trade. All in all, forex trading is not for the faint-hearted neither is it a get rich quick scheme. Like any other trade in the world, to learn to trade takes time to make profits consistently in the markets. Practice makes perfect. The best trading method to use to practice is scalping. This is taking part in numerous short intraday trades. With time you get to learn price patterns, and how the market reacts to different stimuli.
The Perky Scalper Forex Trading System For MT4 ensures you don’t muddle your way through the forex trading jungle. Whether you are an experienced trader in love with the action or just dipping your toe in the sea of the financial market, this forex trading system ensures you do so in a guided manner. In addition to this, you get to make money while scalping.
The Perky Scalper Forex Trading System For MT4 Indicators
Scalping trading is all about quick-fire triggers that don’t give you a lot of time to contemplate. It is all about taking very short intraday trades that sometimes trigger and move at lightning speeds. To ensure that these opportunities don’t go down the drain, the perky scalper trading strategy makes use of four indicators coded to give an alarm bell any time the trading conditions come into confluence. Once the Christmas bell chimes don’t think, place your position because Santa is home.
The tick smoother used by this system is not the normal tick charting that applies to the price candlesticks. This one comes in an indicator window charted form a slow-moving average of period 14 and a fast-moving average of period 5. It
This tick smoother takes into account the last 200 ticks. The smoothing effect is charted as a tomato red line. The moving averages are in lime and dodger blue colours.
This indicator is charged with the responsibility of identifying the current trend for traders for this trading system. At the bottom left corner of this indicator’s window, you get information on the daily pivot point, spread, the daily average movement, and the current trend. The trend is colour coded: blue for an uptrend and magenta for a downtrend.
Adaptive Relative Strength Index
Relative strength index indicator identifies market trends by giving traders insights into the overbought and oversold areas. The RSI indicator thus shows price momentum. The adaptive RSI, ARSI, is an upgrade to the normal RSI.
ARSI seeks to reduce the market noise by averaging the market price values hence a smoothing effect on the normal RSI is achieved. This, in turn, has the effect of increasing the win rate of the perky scalper trading strategy by reducing drawdown associated with multiple stop loss level hits.
The smoothing effects ensure that momentary price fluctuations don’t affect the ARSI, and it remains neutral. It reacts to actual price momentums.
Don’t let the name discourage you. This is the moving average convergence divergence we all know and love. This indicator is a trend follower. Instead of the normal MACD, the perky scalper system had coded this MACD to appear in different colour shades; red, yellow and chartreuse. The aim remains the same, give insight into the trend momentum, direction, strength and duration. Shares the same indicator window as the adaptive relative strength index indicator.
Has a period of 14 and uses the 300 bars as its base.
It is coded to appear in magenta colour. This is simply a stochastic indicator oscillating around the median lien of 0. If it is positive, it signifies an uptrend. If it is negative in confirms a bearish trend. Compared to the LSWPR indicator, it is a lagging indicator. The conservative trade should use this as their entry signal.
Santa is here. Most trading systems coding provides for a dialogue box to appear and communicate when it is time to enter into a position. Not for this trading system. At the top right corner of your chart, you get a timer. It oscillates from a positive value to a negative value: negative for a downtrend and positive for an uptrend. A colour change simply signifies a change in values.
The coding provides for the ringing of a bell once all the indicators align and the momentum is strong enough that the value at the top right corner is 9: +9 for a bullish trend and -9 for a bearish trend. Take position once this value gets to either +10 or -10 for bullish and bearish trades, respectively.
The Perky Scalper Forex Trading System For MT4 Setups
The chart above is an example of a perfect entry point for a bearish position;
- The tick smoother indicator had all the moving averages sloped downwards.
- The MACD is red in colour and in the overbought zone.
- The adaptive relative strength index indicator reacts to the prices and their momentum and slopes downwards.
- A look at the stochastic indicator shows that it is negative signifying that it is time to go short.
The value at the top right corner should confirm all of these by being negative, and once the bell chimes, go short.
The chart above is an example of a near-perfect entry point for a bullish position;
- The tick smoother indicator had all the moving averages sloped upwards.
- The MACD was green in colour and in the oversold zone.
- The adaptive relative strength index indicator reacts to the prices and their momentum and slopes upwards, albeit slightly.
- A look at the stochastic indicator shows that it is positive signifying that it is time to go long.
The value at the top right corner should confirm all of these by being positive and once the bell chimes, go short.
The perky scalper forex trading system applies only to EURUSD, and the timeframe for use is M15. Use stop losses of 10-15 pips from your entry point and aim for a take profit level of 20-30 pips from entry.
Download the complete system description and the files here: