Scalping is quite difficult for many traders. In fact, not all traders would ever learn to scalp, but it sure is a good skill to add to your arsenal.
This strategy is designed to capitalize on the low cost of trading Fiber to scalp the market.
We will be using two custom indicators to accomplish this: the Big trend and the instantaneous_Trend.
The Big Trend is an indicator that uses a modified moving average. Its main difference is that its color changes with market sentiment, which gives us an indication of whether to trade or not.
The next step is the Instantaneous_Trend indicator. This indicator can be customized to oscillate. It has no middle line and is unbounded. This indicator is actually plotted on the basis of price. This indicator shows two lines that cross each other and could be used to signal trades.
Indicators:
- Big Trend
- Instantaneous_Trend
Timeframe: M5 chart only
Currency Pair: EUR/USD only
Trading Session: any
Try the Big Trend custom indicator with AtoZ Markets approved forex brokers:
How to Trade Using Big Trend Scalping Forex Trading Strategy
Buy (Long) Trade Setup
Entry
- The Big Trend Line should not be exceeded by price
- The Big Trend should be to change to the color light blue
- The instantaneous_trend indicator's fast line should be above the slow line
- At the confluence the above rules, you can enter a buy-market order
Stop Loss
- Stop loss should be set to 1-3 pips under the Big Trend line
Exit
- If the Big Trend line changes in color to tomato, close the trade
- If the Instantaneous_Trend indicator crosses below the slow-line, close the trade
Sell (Short) Trade Setup
Entry
- The Big Trend Line should not be exceeded by the price
- Color tomato should be the Big Trend.
- The instantaneous_trend indicator's fast line should be below the slow line
- At the confluence the above rules, you can place a sell order
Stop Loss
- Stop loss should be set at 1-3 pips higher than the Big Trend line
Exit
- If the Big Trend line changes color to light blue, close the trade
- If the Instantaneous_Trend indicator crosses above the slow line, close the trade.
How to download and install an indicator
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Big Trend Forex MT4 Scalping Trading Strategy” template to apply it on the chart.
Note: This indicator was developed by Mark. AtoZ Markets does not carry any copyrights over this trading tool.
Should you use the Big Trend scalping indicator on your own at all?
Before you start trading with the Big Trend custom indicator, you'll want to read this.
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