Scalping takes away the boredom of having to sit in front of your computer screen for long grilling hours waiting for order to hit target points.
Once you master the art of scalping, you can drastically cut down on those hours, while also maximizing profits on the long run.
This strategy takes advantage of the Ichimoku indicator and advanced get oscillator. Learn how to execute buy and sell forex scalping trades based on these indicators.
Chart Setup
MetaTrader4 Indicators: Alternative_Ichimoku_v07.ex4 (default setting), AMA_for_Expert2.ex4 (default setting), AdvancedGetOscillator.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute
Recommended Trading Sessions: Any session
Currency Pairs: Major and cross pairs, no exotic pairs
Download
Download the Advanced Get Oscillator Forex Trading Strategy
Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Enter a buy in the market if the following indicator or chart patterns are in display:
- If the AMA_for_Expert2 custom indicator’s deep sky blue dots on its sienna line crosses the Alternative_Ichimoku_v07 bottom up as shown on Fig. 1.0, with price trading somewhat above, it is an indication that price is being pressured to the upside i.e. a signal to go long. The bullish trend is said to be strong if the gap between the AMA_for_Expert2 and the Alternative_Ichimoku_v07 custom indicator widens. The cloud of the Alternative_Ichimoku_v07 indicator also changes to light pink during a bullish trend.
- If the stated blue histograms of the AdvancedGetOscillator.ex4 indicator aligns above the 0.00 signal level, it is a sign that the market sentiment is bullish i.e. a buy alert.
Stop Loss for Buy Entry: Place stop loss below short-term support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions hold sway:
- If price closes within the pink cloud of the Alternative_Ichimoku_v07 custom indicator, it is a signal for a reversal i.e. a trigger exit of take profit accordingly. Also watch out if the AMA_for_Expert2 custom indicator crosses the Alternative_Ichimoku_v07 top downward, it is also a signal to exit or take profit without delay.
- If the slate blue histograms of the AMA_for_Expert2.ex4 custom indicator aligns to form below the 0.00 signal level, it is a trigger to exit or take profit.
Sell Entry Rules
Sell if the following chart or indicator pattern gets displayed:
- If the AMA_for_Expert2 custom indicator’s yellow dots on its sienna line crosses the Alternative_Ichimoku_v07 top downward as shown on Fig. 1.1, with price trading somewhat below, it is an indication that price is being pressured to the downside i.e. a signal to go short.
- If the slate blue histograms of the AdvancedGetOscillator.ex4 indicator aligns below the 0.00 signal level, it is a sign that the market sentiment is bearish i.e. a sell alert.
Stop Loss for Sell Entry: Place stop loss above short-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following rules or condition holds sway:
- If price closes within the light steel blue cloud of the Alternative_Ichimoku_v07 custom indicator, it is a signal for a reversal i.e. a trigger exit of take profit accordingly. Also watch out if the AMA_for_Expert2 custom indicator crosses the Alternative_Ichimoku_v07 bottom up, it is also a signal to exit or take profit without delay.
- If the slate blue histograms of the AMA_for_Expert2.ex4 custom indicator aligns to form above the 0.00 signal level, it is a trigger to exit or take profit.
Sell Trade Example
Fig. 1.0
Free Download
Download the Advanced Get Oscillator Forex Trading Strategy
About The Trading Indicators
The Alternative_Ichimoku_v07.ex4 custom indicator is a variant of the Alternative_Ichimoku and was designed as an alternative to the renowned indicator Ichimoku Kinko Hyo.
The indicator is modified for use to gauge momentum in line with possible zones of support and resistance
The AMA_for_Expert2.ex4 is an enhanced version of the Adaptive Moving Average (AMA), and does take into account the volatility ratio.
The line of the indicator smoothens out greatly to yield a slower average, which invariably should produce more consistent result during price consolidation or sideways market.
The AdvancedGetOscillator.ex4 is an indicator that oscillates around the zero level. Its slate blue histograms gets aligned above (bullish) or below (bearish) the 0.00 signal level to depict current trends.
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