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Wick Forex Scalping Strategy

Amandeep Sonewane | Jul. 17, 2019
Wick Forex Scalping Strategy

You can now download the Wick Forex Scalping Strategy for free on AtoZ Market indicators gallery.

This forex trading strategy uses 2 timeframes, the 1 hour and the 5 minute. We will look at both of this timeframe and look for entries on this two timeframes. This trading strategy is applicable to EURUSD and GBPUSD pairs. There are only 2 indicators that are used in this system.

Forex Indicators:

  • Wick o Gram level 5; -5
  • CCI 150; -150

How to trade with Wick Forex Scalping Strategy?

Long Entry:

  • The wick indicator must be below -5.
  • CCI 14 is in oversold area -150.
  • Enter at the opening of the next bar.

Short Entry:

  • The wick must be below 5.
  • CCI 14 is in overbought area 150.
  • Enter at the opening of the next bar.

Exit Position:

  • Place stop loss at 8-10 pips and take profit at 5 pips.

How to download and install an indicator?

In order to install the indicator on your MT4 platform, you need to follow these steps:

  1. Click on “Download Indicator” button located at the top right corner of the screen.
  2. Save the file to your computer.
  3. Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
  4. Restart your Metatrader platform.
  5. Navigate to “Indicators.”
  6. And select “Wick Forex Scalping Strategy” template to apply it on the chart.

Note: This indicator was developed by T. Morris. AtoZ Markets does not carry any copyrights over this trading tool.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.