This is a 5 Minute Forex Scalping Strategy With Parabolic SAR And MACD Candle Indicator.
You can also use this forex system on larger timeframes as well for swing trading or position trading-just remember to adjust profit targets if you switch to larger timeframes.
Forex Indicators Required
You need 3 indicators for this scalping system:
- 125 EMA
- MACD Candles V3 Indicator
- Parabolic SAR (0.02 step)
Now, let this chart below explain a little bit about the MACD Candles V3 Indicator and how it can be used to trade:
Currency Pairs and Trading Sessions
You can use the scalping system on these pairs: EUR/USD, GBP/USD, EUR/JPY, GBP/JPY
For Trading sessions: Euro and US
Buying Rules
- Price must be travelling above the 125 EMA
- The MACD candle must be green. Download MACD Candles v3
- the Parabolic SAR dot must form below the price
- Place your stop loss 1 pip below the parabolic SAR dot
- Take profit: 20 pips or risk:reward of 1:2
See chart below for clarity about this:
Selling Rules
The selling rules for this 5 Minute Forex Scalping Strategy With Parabolic SAR And MACD Candle Indicator is the exact opposite of the buying rules, here they are:
- Price must be travelling below the 125 EMA
- The MACD candle must be red
- the Parabolic SAR dot must form above the price
- Place your stop loss 1 pip above the parabolic SAR dot
- Take profit: 20 pips or risk:reward of 1:2
See chart below for clarity:
Thanks for visiting and reading this 5 Minute Forex Scalping Strategy With Parabolic SAR And MACD Candle Indicator. Don’t forget to like, tweet and share.