You can now download Big Trend Scalping MT4 Forex Trading Strategy for free on AtoZ Markets indicators gallery.
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 aims to exploit the low cost of trading the Fiber to scalp the market.
To do this, we would be using a couple of custom indicators that work well together, the Big Trend and Instantaneous_Trend indicators.
The Big Trend is a custom indicator based on a modified moving average. The main difference is that it changes color as the market sentiment changes, giving us a signal to trade or not.
Next, the Instantaneous_Trend indicator. This indicator is a customized oscillating indicator. It is unbounded and has no midline. In fact, this indicator is plotted based on price. This indicator prints two lines that crisscross each other, which could be used as a signal to trade.
- Big Trend
Timeframe: 5-minute chart only
Currency Pair: EUR/USD only
Trading Session: any
How to Trade Using Big Trend Scalping Forex Trading Strategy
Buy (Long) Trade Setup
- Price should be above the Big Trend line
- The Big Trend line should change to color light blue
- The Instantaneous_Trend indicator’s fast line should cross above the slow line
- Enter a buy market order at the confluence of the above rules
- Set the stop loss 1-3 pips below the Big Trend line
- Close the trade if the Big Trend line changes to color tomato
- Close the trade if the Instantaneous_Trend indicator’s fast line crosses below the slow line
Sell (Short) Trade Setup
- Price should be below the Big Trend line
- The Big Trend line should change to color tomato
- The Instantaneous_Trend indicator’s fast line should cross below the slow line
- Enter a sell market order at the confluence of the above rules
- Set the stop loss 1-3 pips above the Big Trend line
- Close the trade if the Big Trend line changes to color light blue
- Close the trade if the Instantaneous_Trend indicator’s fast line crosses above the slow line
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.