Range Factor scalping is a forex trading system. It is a simple and amazing forex trading system built for all levels of traders. The system is basically a scalping forex system. In another words, this system is suitable for doing short term trading. The short term trading can last for few seconds to few minutes, depending upon the volatility of the market and the time frame used. While trading with the Range Factor Scalping most of the time won’t expect your trades to last for few seconds only as the time frame is too big to hit your targets within few seconds. Only trading during the NFP could make that possible.
The Range Factor Scalping has five technical indicators in the main chart window and two other indicators in the indicator window. All the indicators that are listed are not required to be used in order to make effective trading decisions while trading with this forex trading system. Mainly, we will focus on Bar trend indicator and signal line indicator for making our trading decision.
When Range Factor Scalping is correctly installed on your trading platform, your chart should look like this:
- Bar Trend
Bar Trend is the major signal generator indicator of Range Factor Scalping forex trading system. When the Bar Trend indicator is of aqua color, it indicates that there is a bullish pressure in the market and when the bars are red it’s a signal that there’s a selling pressure in the market.
- Signal Line
Signal line is the custom made moving average that in located at the main chart window and in the indicator window. The Signal line turns aqua when the market is up and red when the market is down.
- Range Factor
Range Factor is an oscillator that fluctuates in positive and negative territory. When the oscillator is in positive territory, it indicates the bullish pressure in the market and when the oscillator is in the negative territory, it indicates the bearish pressure in the market.
Buying Conditions Using Range Factor Scalping.
- Bar trend indicator should be in aqua color.
- Market price should be above the signal line
- The signal line indicator should be in aqua color.
- The Range factor oscillator should be in positive territory.
- 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 Signal line indicator turns red.
Selling Conditions Using Range Factor Scalping.
- Bar trend indicator should be in red color.
- Market price should be below the signal line
- The signal line indicator should be in red color.
- The Range factor oscillator should be negative territory.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the Signal line indicator turns aqua color.
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