5 minute Trend Line Scalping is a forex trading system. It is a very simple forex trading system. 5 minute Trend Line Scalping is a trading system that is designed for the diehard scalpers. 5 minute Trend Line Scalping forex trading system can be used to trade any currency pairs. 5 minute Trend Line Scalping comprises of only four technical indicators which are pretty simple to understand. This forex trading system is aimed for beginners as well as for experienced traders. By default 5 minute Trend Line Scalping forex trading system is designed to trade on 5 minute time frame.
When you install 5 minute trend line scalping system in your trading platform, your chart should look like this:
WellXamais the major signal generator indicator of this trading system. It consists of a specialized moving average with pink and green dots on it. The green dots indicate bullish market conditions and the pink dots indicate bearish market conditions.
- THV coral
THV coral is a moving average which changes its color as per the trend of the market. when this indicator is light blue it indicates bullish market conditions and when this indicator is pink it indicates bearish market conditions.
- Forecast High Trend line
Forecast High Trend Line is a major indicator of this trading system. Buy and sell signals are taken on the basis of this trading system; other indicators are used only for the confirmation purpose. The trend lines are drawn automatically by the system. When you see a rising trend-line and when the market bounces off it, it is a buy signal. Similarly, when you see a falling trend line and when the market falls from this trend line, it is a sell signal.
Buying Conditions Using 5 Minute Trend Line Scalping.
- Market should be up trending.
- Rising trend line should form on the market.
- Wellxama indicator should be green.
- THV coral indicator should be blue.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the WellXama indicator and THV coral indicator turns pink.
Selling Conditions Using 5 Minute Trend Line Scalping.
- Down trending trend line should form.
- WellXama indicator and THV Coral indicator should be pink.
- Place your short position when all of the above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the WellXama and THV coral indicator turns green.
Download Free Forex Trend Line Scalping Strategy
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