BeanFX Boom And Crash Scalper
BeanFX Boom and Crash Scalper will assist Boom and Crash traders on how to scalp quick profits when trading Boom and Crash index. This strategy is a combination of five common Meta Trader 5 indicators.
Basically, the indicators are Moving averages, Average Directional Index, Adaptive Moving Average, Bollinger Bands and Force Index. The ideal time frame that is suitable for this strategy is 15 mins time frame. (Please try this strategy on a demo account before going live).
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How To Setup The Indicators
Four moving averages are installed on the main MT5 window with the following settings:
To read the MT5 chart, zoom out completely.
When the Red Simple moving average cross the Blue moving average up, that is a BUY signal. When the Red simple moving average cross the Blue moving average down, that is a SELL signal.
Indicator Window 1
Note: 20 Linear Weighted Moving Average can be used as an alternative to Adaptive Moving Average for mobile MT5 charts.
When the Red Adaptive moving average and the Green Linear Weighted moving average cross the Blue moving average up, that is a BUY signal.
Strong Buy signal occurs when the crossing happens under the 17 and 21 Average Directional Movement Index levels.
When the Red Adaptive moving average and the Green Linear Weighted moving average cross the Blue moving average down, that is a SELL signal.
Strong Sell signal occurs when the crossing happens above the 75 and 70 Average Directional Movement Index levels.
Indicator Window 2
When the Green Force Index line cross the Red Bollinger Bands up, that is a BUY signal. When the Green Force Index line cross the Red Bollinger Bands down, that is a SELL signal.
The combination or occurrence of the signals on the three windows will give a good/perfect trade entry.
Take Profit and Stop Loss Levels
When buying Boom and Crash, try to set your take profit at the nearest resistance. However, Boom and Crash profit can booked on a Buy position at the point when a sell signal occurs.
Stop loss for the buy trade may be placed below the recent support or swing low.
For sell trades, traders may take profit at the nearest support. However, try to take profit on short positions near the point when a buy signal shows up.
Stop loss for the short positions may be placed above the recent swing high or resistance.
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(Broker: Exness … https://www.exness.com/a/t0q1u0q1)
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