BeanFX NAS 100 Index Scalper 2
BeanFX NAS 100 Index Scalper 2 strategy will guide traders on how to scalp quick profits when trading NAS 100 Index. The BeanFX NAS 100 Index Scalper 2 strategy is a combination of five Meta Trader 4 indicators.
However, the indicators are Moving averages, Relative Strength Index, Awesome Oscillator, Bollinger Bands and Average Directional Movement Index. The ideal time frame for scalping NAS 100 with this strategy is 5 minutes time frame. (Please, try this strategy on a demo account before going live).
Bollinger Bands and two moving averages are installed on the main MT4 chart with the following settings as shown below;
On the main chart, when the Red moving average cross the Blue moving average and the Black Bollinger Bands up, then we have a BUY signal. When the Red moving average cross the Blue moving average and the Black Bollinger Bands down, then we have a SELL signal.
Indicator Window 1
The Relative Strength Index, Average Directional Movement Index and moving average indicators are loaded on Indicator Window 1 with settings as follows;
4. (For Mobile MT4 charts, please change Apply to: Previous Indicator’s Data)
Buy signal occurs when the Green Moving Average MA line is within RSI levels 8 and 22, and the Red RSI line cross above the RSI level 8 , green MA and RSI level 22 as shown in the image below.
One can also Buy NAS 100 when the Red line crosses up on the Green line anywhere around the RSI level 50 area.
Sell signal occurs when the Green Moving Average line is within RSI levels 92 and 78, and the Red RSI line cross down on the RSI level 92 , green MA and RSI level 78 as shown in the image below.
One can also Sell NAS 100 when the Red line crosses down on the Green line anywhere around the RSI level 50 area.
Buy trend occurs when the Red RSI line continuously laps/align on the RSI level 100 in a horizontal line as shown below;
Sell trend occurs when the Red RSI line continuously laps/align on the RSI level 0 in a horizontal line as shown below;
Indicator Window 2
The Awesome Oscillator indicator is installed on Indicator Window 2 with the default settings;
Buy signal occurs when the Green Awesome Oscillator AO bars increases in length above the zero AO level as shown below.
Sell signal occurs when the Red Awesome Oscillator AO bars increases in length below the zero AO level as shown below.
Technically, when scalping NAS 100 Index, scalp trades should only be placed when signal occurs at the same time (or almost at the same) on all three windows.
However, the combination of the three signals on the main chart, indicator 1 and indicator window 2 will help NAS 100 Index scalpers make better scalp trade decisions.
Take Profit and Stop Loss Levels;
NAS 100 Index scalp traders may book profit when buying, at the nearest resistance or supply area. Profits may also be booked on long positions at point where sell signal occurs.
Stop loss for a buy trade can be placed below the most closest and recent low when scalping NAS 100.
For a sell trades, NAS 100 scalpers may take profit on short positions at the nearest support. However, profit can be taken on short positions at points where buy signal occurs.
Stop loss for the sell trades can be placed above the recent highs.
NAS 100 9TH JAN 2020:
NAS 100 12TH DEC 2019:
For Forex Charts;
EURUSD 30 MINS TIME FRAME:
GBPJPY 30 MINS TIME FRAME:
GBPUSD 30 MINS TIME FRAME:
XAUUSD 5 MINS TIME FRAME:
NAS 100 28TH MAR 2020:
NAS 100 25TH OCT 2019:
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