This scalping strategy was made available for online forex trader, for free download, by Max. The system is for use when trading the major currency pairs. When using it the trader has to ensure that they are using one minute to 5 minute timeframes only. Use of less tight timeframes may not give the right results since the signals will a bit be noisy.
Then choose the right major pairs depending on their spread. The spread should be preferably 25. When trading it is always a good practice to use the candlesticks. Therefore it is upon you to change from the bar chart that the template that this scalping system comes with to candlesticks. You do this by first opening the template on the chart window of the currency pair that you have chosen to trade and then clicking on the candlestick button on the top of the Metatrader platform.
The Extreme scalping modified Trading System is based on four trading indicators namely the Gann Hilo indicator, DSS Bressert Indicator, the Carmens eyes Indicator and the LSMA (68) indicator.
Fig.showing the components of the Extreme scalping modified Trading System template.
When you look at the above templte you will be able to notice that there are two Carmens Eyes indicator.one is black while the other is yellow.
The only indicators that change their color here are the DSS indicator and the LSMA indicator. Howver the color change that is most significant during trading is that of the DSS indicator.
While using this trading system to scalp the returns are almost 100% profits. It is weel visible from the above figure that the change of the DSS indicalotr color is so perfect in response to the slightest market price change.
When is the right time to open trades while using the Extreme scalping modified Trading System?
The trader should open a buy position when the market prices move above the Gann, M5 and M5 Carmens Eyes and LSMA (68) indicators. Also the Gann Hi-Low indicator should have changed its color below the 20 line level.
For the short positions, the opposite of the buy order applies. The order is placed when the market prices move below the Gann, M5 and M5 Carmens Eyes and LSMA (68) indicators. Also the Gann Hi-Low indicator should have changed its color above the 80 line level.
Fig.how to use the Extreme scalping modified Trading System in trading.
If you look closely at the market on the Extreme scalping modified Trading System template, you will realise that the indicators used are so perfect in indicating the signals of when to buy and when to sell.
The trader should be very careful not to trade when the PA is between the M1 and M5 Carmens Eyes indicator.
Then the trade should be closed when there is a change of the color of the DSS Bressert indicator. When using this system to scalp you are almost not scalping. You don’t have to close your trades when a certain amount of pips have been covered. You actually wait for the indicators responsible to give the signal to close the trades. Therefore you have to be very alert.
Open demo account to test this system.
Download Free Extreme Scalping Modified Trading System
Leave a Reply