BeanFX Step Index Scalper
BeanFX Step Index Scalper will assist Step Index traders on how to scalp quick profits when trading Step index. This strategy is a combination of three common Meta Trader 5 indicators.
Basically, the indicators are Moving averages, Ichimoku Kinko Hyo and MACD. The ideal time frame 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
Ichimoku Kinko Hyo indicator and moving average are both installed on the main MT5 window with the following settings:
When price crosses above the Blue and Red moving averages, and ticks higher forming new bullish candles, that is a BUY signal. Buy confirmation is when the Red and Blue moving averages crosses above the Ichimoku Kinko Hyo.
Alternatively, Sell signal occurs when price crosses below the Blue and Red moving averages, and ticks lower forming new bearish candles. Sell confirmation is when the Red and Blue moving averages crosses below the Ichimoku Kinko Hyo.
Indicator Window 1
MACD with moving average indicator is installed on Indicator Window 1 with the following settings:
Buy signal occurs whenever the Red moving average line cross up on the zero MACD level.
Sell signal occurs whenever the Red moving average line cross down on the zero MACD level.
Take Profit and Stop Loss Levels;
When going long, place your take profit at the nearest resistance.
Stop loss for your buy trade may be placed below the nearest support.
For a short (Sell) trade, place take profit at the nearest support.
Stop loss for the sell trades may be above the nearest resistance.
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(Broker: Exness … https://www.exness.com/a/t0q1u0q1)
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