BeanFX Step Index Scalper 2
BeanFX Step Index Scalper 2 strategy will assist Step Index traders on how to scalp quick profits when trading Step index. This strategy is simple and it is a combination of two common Meta Trader 5 indicators.
Basically, they are Moving averages and Momentum indicators. The ideal time frame for this strategy is 5 mins time frame. (Please try this strategy on a demo account before going live).
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How To Setup The Indicators
Moving average are installed on the main MT5 window with the following settings:
Technically, the trend becomes Bullish when the Red and Green moving averages cross up above the Blue moving average.
Buy in a Bullish trend when price and the Red moving average cross up above the Green moving average.
Alternatively, the trend is Bearish when the Red and Green moving averages cross down below the Blue moving average.
Sell in a Bearish trend when price and the Red moving average cross down below the Green moving average.
Indicator Window 1
Indicator Window 1 is where you get your Buy and Sell confirmations.
Buy confirmation occurs when the Red momentum line crosses up above the Blue moving Average.
On the contrary, Sell confirmation is when the Red momentum line crosses down below the Blue moving Average.
Take Profit and Stop Loss Levels;
When you have a running Buy trade, place your take profit at the nearest resistance.
Stop loss area for your buy trade is below the nearest support.
For your running Sell trade, place take profit at the nearest support.
Stop loss for your running sell trade may be above the nearest resistance.
(Broker: Alpari … https://alpari.com/en/?partner_id=1244646)
(Broker: Exness … https://www.exness.com/a/t0q1u0q1)
(Broker: FXTM… http://forextime.com/?partner_id=4806145)