JJN Scalper system is a forex trading strategy that is used to scalp in the foreign exchange market. This is a simple strategy although it looks complicated at the beginning. Many indicators used in this forex strategy arethe reason what makes it look complicated but that’s not true. Despite using excessive technical indicators in this system the system is really very easy to understand and trade. Since this is a scalping forex strategy the time frames can be 1 minute or 5 minutes. When scalping you should keep many things in mind like spread, market sessions, Risk to reward ration, economic events, etc. You wouldn’t be trading a currency which has very high spreads. You should be trading during the overlapping session of London and New York session because market is quite volatile during this time. Risk to reward ratio should be very well defined otherwise you will end up holding the losing trades too long and taking the profits too soon. One of the hardest things to master in scalping is to execute emotion free trades. If one cannot remain totally disciplined while scalping one can never scalp successfully in the forex market. Emotional trading should be totally ignored.
In this indicator we will use seven technical indicators to make our trading decision. Although this system displays the Buy/Sell/Wait signal on the main chart when the entry conditions are met, we will be looking for those conditions.
Market Trend: This indicator will help you to find the direction of the market in different timeframes. Green square box indicates the bullish market while the red square box represents the bearish market and yellow squared box indicates the neutral market.
Buy/Sell Signal: This indicator signals you to whether to buy/sell/wait in a given market situations.
Arrows: These are the red and green arrows that appear above and below the price.
JJN Promise Oscillator: This is a momentum indicator that fluctuates within the range of -0.0073 and 0.0067.
Histogram: This histogram helps to figure out the strength of the moves of price in a particular direction. Higher the histogram surge stronger is the chance of market price rising higher.
CCI Filter: This filter tool is used to simplify the overall direction of the market.
CG Filter: These are the small dots like shape which appear on the bottom of the chart.
So these are the technical indicators that you will be using in this forex trading strategy.
Buying Conditions Using JJN Scalper System.
- Price should cross above the orange colored moving average.
- JJN promise oscillator should be above the zero level.
- Histogram should trend higher.
- CCI filter should be green in color.
- GG Filter should be green in color.
- A green arrow should appear on the chart.
- 5 minutes chart should show green colored box in market trend indicator.
- Buy/sell/wait signal should show Buy signal.
- Place your stop just below the recent swing low.
- Take your profits when a red colored arrow appears on the main chart.
Selling Conditions Using JJN Scalper System.
- Price should cross below the orange colored moving average.
- JJN promise oscillator should be below the zero level.
- Histogram should trend higher.
- CCI filter should be red in color.
- GG Filter should be golden in color.
- A red arrow should appear on the chart.
- 5 minutes chart should show red colored box in market trend indicator.
- Buy/sell/wait signal should show sell signal.
- Place your stop just above the recent swing high.
- Take your profits when a green colored arrow appears on the main chart.
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