The ZigZag Foreign Exchange Scalping Trading Strategy

The Zigzag foreign exchange trading strategy is a scalper’s satisfaction, as it provides an overall current dimension towards making gains on price moves. To utilize this strategy, an excellent combination of the zigzag.ex4 and zigzagarrows.ex4 are the only indicators required.

Features

  1. ex4 and zigzagarrows.ex4 with default settings are the only required indicators required to utile in this trading strategy.
  2. The recommended time frame for this technique is one minute or five minutes.
  3. Applicable on any endorsed trading sessions.
  4. Can be utilized on any currency pairs except exotics.

Trading Instance

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Purchase Entry Rules

Position a purchase entry when the following conditions have been observed:

  1. If the blue upward facing arrow creates beneath price candlesticks, it refers a bullish signal. For the indicator to be accurate, the blue upward displaying arrow must be in combined to another past diverse pointed red arrow through the zigzagarrows.ex4 custom indicator.

On the figure above, purchase alerts by blue upwards displaying arrows created on the diagram were neglected, since they were not combined by the zigzag custom indicator.

  1. If the red aligned of the zigzag custom indicator that combines adverse displaying arrows observe a bullish candle end higher up its aligned, a purchase is recommended.

Position your stop-loss between five and fifteen pips beneath the entry price.

Take-Gain for Purchase Entry

Position a take-gain or an exit if the following rules are observed:

  1. If the down displaying red arrow of the zigzagarrows.ex4 custom indicator that is combined through the aligned of the zigzag custom indicator creates higher up price candlesticks, it is a sign for a take-gain or an exit.
  2. If the price ends beneath the aligned of the zigzag custom indicator proceeding to “Rule 1” higher up a take-gain or an exit is most appropriate.

Auction Entry Rules

Position an auction if the following chart arrangements are observed:

  1. If the red downward displaying arrow of the zigzagarrows.ex4 custom indicator creates higher up price candlesticks, it is an indication of a bearish trend. For the trend to be accurate, the red downward indicating arrow must be combined to another prior diverse pointed blue arrow through the red aligned of the zigzag custom indicator.
  2. Pursuing “rule 1” if forth the developing align of the zigzag.ex4 custom indicator, price pushes beneath it, it is bearish trend since price is been pressured lower.

Position a stop-loss between five to fifteen pips higher up the entry price.

Take-Gain for Auction Rules

Position a take-gain or an exit if the following conditions have been observed:

  1. If the upper pointing blue arrow of the zigzagarrows.ex4 custom indicator that in connection through the alignment of the zigzag custom indicator to the prior indicator creating arrow (red arrow) creates beneath price candlesticks, it is a sign for a take-gain or an exit.
  2. If the price ends higher up the aligned of the zigzag custom indicator after accomplishing “Rule 1” higher up, a take-gain or an exit is most appropriate.

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Danger-SignUtilize this strategy at your own risk. WindsorForex.com cannot be responsible for any losses associated with utilizing any strategy presented on the site. It’s not recommended to utilize this strategy on the real account without testing it on demo first.

 

 

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About The Author

Mike N

Financial Trading Systems Design Expert

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