Getting Started

This is a Free forex scalping strategy that is primarily used for the 5-minute charts but can be used effectively on the 1 min – 15 min charts. Be sure to try out different time frames for each pair to see which one works the best for that individual pair. The strategy itself is quite simple and only consists of 3 indicators.

Those indicators include:

1. A Simple 50 Period Moving Average (closed)
2. A Simple 15 Period Moving Average (closed)
3. A Simple 10 Period Moving Average (closed)

Refer to the picture above to see what your chart should look like. The colors of each moving average are completely up to you.

How to Trade This Forex Strategy

1. Look at your chart and determine if the 50 Moving Average is above OR below the current price.
2. If the 50 Moving Average is ABOVE price you are looking for a sell. If the 50 Moving Average is BELOW price you are looking for a buy.
3. Now we are looking for a price to completely cross the 10 Moving Average & 15 Moving Average.
4. If the price crosses below the 10 & 15 Moving Average, we take a SELL. If
   price crosses above the 10 & 15 Moving Average we take a BUY.

Refer to the pictures below:

In this picture, we see that price is below the 50 Moving Average so we are looking for a SELL. Once the price completely crosses below the 10 & 15 Moving Average we would have taken the trade. The red arrow indicates the candle we would have took the sell on. (Notice how the candle has completely crossed the 10 & 15 Moving Average and is not touching them at all.)

In this picture, we see that price is above the 50 Moving Average so we are looking for a BUY. Once the price completely crosses above the 10 & 15 Moving Average we would have taken the trade. The green arrow indicates the candle we would have taken the buy on. (Notice how the candle has completely crossed the 10 & 15 Moving Average and is not touching them at all.)

Read More : Forex 4-Hour Stochastic EMA Trend Trading Strategy

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