Scalping Panther trading system was submitted by Joy. It is a trading strategy that is designed to help the scalpers. It was designed for use when trading the EUR/USD, AUD/USD and the GBP/USD.
It is advisable that you use the five minute time frame when using this trading strategy to scalp.
Scalping Panther system has two templates that do have different indicators embedded to them. The two templates are the scalping panther 1 and the scalping panther 2. After downloading the zip file containing this trading system, you will find the two template there when you unzip the file. Then you should copy both of these templates to the template folder of the Metatrader4 file. Make sure that you also do copy the indicators that come with the system. If you do not copy the indicators the may not appear on the chart when you load the template if they aren’t in the file.
Fig.1. The Scalping Panther Trading System 1 template.
Fig.2. the Scalping Panther Trading System 2 template.
If you compare the two templates, you will notice that the only difference is the arrows that the scalping panther 1 template has. All the other things are common. Both templates have the same indicators which includes:
- The Laguerre indicator
- The MACD indicator
- The Moving averages indicators of different periods
- The slope direction line indicator
- QQE alert indicator.
The Laguerre and the MACD indicators are placed on the same chart making it easier to compare the signals of the two. The use of the very many moving averages is so as to try and eliminate the noise.
When should you trade according to the Scalping Panther Trading System?
Placing a buy order:
This trade is placed when either two moving averages cross or when there is a QQE alert. Also the Laguerre line must cross the 0.15 level from the bottom heading upwards. The MACD indicator also has to be above the zero line.
Once you place the order, you should go ahead and place a stop loss at the previous low swing level.
Placing a sell order:
This trade is placed when either two moving averages cross or when there is a QQE long signal alert. Also the Laguerre line must cross the 0.15 level from the bottom heading upwards. The MACD indicator also has to be above the zero line.
Once you place the order, you should go ahead and place a stop loss at the previous low swing level.
You should at least target an average of 10 pips per trade.
Fig.3. Scalping Panther Trading System placing orders.
Open demo account to test this system.
Download Free Scalping Panther Trading System
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