The forex sniper scalping technique is solemnly designed to take benefit of short-term market directions in a current currency trend. The prime trend is established by an RSI filtered exchanging indicator and the real purchase/auction signal by a progressive moving average indicator known as MAAngle. Utilize this technique on low spread currency pairs and in the course of the London and US sessions for most excellent trading outcome.
1. RSIFilter.mq4 with 14 period and MAAngle.ex4 with default settings are the only MetaTrader 4 indicators utilized in this trading strategy.
2. The recommended time frame is five minutes or 15 minutes.
3. London and US sessions for scalping are the endorsed trading sessions for this technique.
4. Works perfect on low spread currency pairs (3 pips max. spread).
Instance EUR/USD 15 minutes Chart
The figure below is an instance of the foreign exchange sniper scalping technique in action on the fifteen minutes Euro/US Dollar MT4 chart. It displays our proposed purchase and auction entry points forth with the outcomes from each exchange. As you can observe from the image below, twelve exchanging positions were started on the fifteen minutes chart. En ended up for a fifteen pip gain (our profit target), two purchase positions remained open (target not reached yet) with a stop-loss positioned beneath minor support.
1. RSIFilter indicator highlighted orange colored histogram (trend up).
2. MAAngle indicator moves higher up the zero borderline and green color.
Begin purchase. Position your stop-loss slightly beneath the most current support level.
Exchange exit (TP): End the exchange for fifteen pips.
1. RSIFilter indicator highlighted blue colored histogram (trend down).
2. MAAngle indicator moves beneath the zero borderline and the dark red color.
Begin auction. Position your stop-loss slightly higher up the most current resistance level.
Exchange exit: End the exchange for fifteen pips.
Utilize 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.