Double CCI RSIOMA trading system is one of the best scalping system known and appreciated by traders in the forex. This system is mainly for use when trading the EUR/USD, AUD/USD and GBP/USD because they have a spread of less than 25. Also it is recommended that you open the 1M and 5M timeframes when trading.
This system employs the use of the following indicators:
- Two moving average indicators
- The Heiken Ashi indicator
- RSIOMA indicator
- DoubleCCIWoody indicator
- The Spudfib indicator.
All these indicators are used in their default setting. Therefore you should not alter anything unless their colors.
Fig. illustrating the various indicators found in the Double CCI RSIOMA scalping system template.
Some of the indicators arent visible on the chart when the template is loaded; for example the two Moving Averages which are summariesd by the arrows. Actually the system simplifies everything and only shows the arrows to show that the MA HAVE crossed.
Opening and closing trades using the Double CCI RSIOMA scalping system
The buy order:
This should be placed when the two moving averages cross over and the DoubleCCIWoody indicator is green. Then the RSI indicator should be greater than the 55 level; that is, the indicator should be moving upwards and should have crossed the 55 level.
The sell order:
This should be placed when the two moving averages cross over and the DoubleCCIWoody indicator is red. Then the RSI indicator should be greater than the 35 level; that is, the indicator should be moving upwards and should have crossed the 35 level.
The pips to target vary according to the timeframe that you are using. When the time frame being used is the one minute timeframe, the trader should target 10 pips either profit or loss. Also you can wait for the Heiken Ashi indicator to change from red to green.
If you are using the fifteen minute timeframe, then you should target fifteen pips on either profit or loss or wait when the Heiken Ashi changes it color.
While using this trading system, the trader should never at any one time trade news releases. And you should avoid trading 30 minutes before and after the news.
Fig.when to buy and sell Double CCI RSIOMA.
From the above table you can see that it is very easy to trade using this scalping system. Actually the Double CCI RSIOMA gives you a singnal wen to buy and sell using arrows. These arrows appear when all the conditions necesarry for either selling or buying are met. Therefore the system eliminates the task of trying to analyse the indicators so as to know when to trade.
Actually the system also gives an alert whenever there is a signal. Therefore even if you are busy with other stuff the alert will always call you when time is ripe to trade.
Fig. Double CCI RSIOMA showing the alert dialog box.
This is a system that you should trust 100%. It is proven and found to be fit for scalping.
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