Recruitment of participants The Bat Forex Trading Strategy

The Bat Forex Trading Strategy - Forex Trading System for MT4

Scalping is designed to reduce the amount of time you’ll need to sit on-the-go in front of your screen monitoring your trades.
Instead, scalping allows you collect profits off the market in fractions, this can lead to significant profits overtime if done correctly.
This forex trading strategy is a simple strategy designed to scalp the market every day. Learn how you can make profits with it.

Chart Setup
MetaTrader4 Indicators: MALRFast.ex4 (Input Variable modified; MAPeriod=30), 2pbIdeal3MA.ex4 (Input Variable modified; x1=1.0, x2=0.4, z1=0.3, z2=0.3), Awesome.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute
Recommended Trading Sessions: London, New York, Tokyo
Currency Pairs: Any pair



Strategy

Long Entry Rules

Initiate a buy order in the market if the following indicator or chart pattern get displayed:

1. If the histograms of the Awesome indicator forms above the 0.00 signal level, price is said to be pressured higher i.e. a signal to go long on the asset of interest. The histograms will normally start off as green (indicating bullish sentiment), but a change in color to red depicts weaning bulls power, although the overall sentiment stays bullish.
2. If the blue line of the 2pbIdeal3MA custom indicator crosses the gold colored line of the MALRFast.ex4 custom indicator bottom up, with price trading somewhat above, the market sentiment is said to be bullish, thus supporting a buy entry.

Stop Loss for Buy Entry: Place stop loss 2 pips below support.
Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following holds true:

1. If the Awesome indicator forms a histogram (usually red) below the 0.00 signal level as illustrated on Fig. 1.0, an exit or take profit is recommended.
2. If during a bullish trend the blue line of the 2pbIdeal3MA custom indicator crosses the gold colored line of the MALRFast.ex4 custom indicator top downward, an exit or take profit is advised.

Sell Entry Rules

Enter a sell order if the following rules or conditions takes center stage:

1. If the histograms of the Awesome indicator forms below the 0.00 signal level, price is said to be pushed lower i.e. a signal to go short on the asset of interest. The histograms will normally start off as red (indicating bearish sentiment), but a change in color to green depicts weaning bears power, although the overall sentiment stays bearish.
2. If the blue line of the 2pbIdeal3MA custom indicator crosses the gold colored line of the MALRFast.ex4 custom indicator top downward, with price trading somewhat below, a sell signal is ripe.

Stop Loss for Sell Entry: Place stop loss 2 pips above resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following indicator or chart pattern takes center stage:

1. If the Awesome indicator forms a histogram (essentially green) above the 0.00 signal level as seen on Fig. 1.1, an exit or take profit is recommended.
2. If during a bearish trend the blue line of the 2pbIdeal3MA custom indicator crosses the gold colored line of the MALRFast.ex4 custom indicator bottom up, an exit or take profit is advised.

About The Trading Indicators

The Awesome oscillator is a technical study from Bill Williams that is used to spot trends or to expect likely reversals.
The 2pbIdeal3MA.ex4 custom indicator is a modified moving average that smoothens price, thus spotting price change in a prompt manner.
The MALRFast.ex4 custom indicator is a line indicator that is built after the moving average and as such it is a trend indictor.