The Open Scalping Volatility Forex Indicator Trading System is an effective trend-following strategy designed for intraday scalping. It offers a comprehensive scalping formula that can be applied to various timeframes and currency pairs. This system incorporates several key indicators to help traders identify optimal entry and exit points.
Components of the System:
Long Trade Entry:
Exit the trade when the price reaches the next Auto Pivot level, the Non-Lag Dots change position, and the Percentual ZigZag plots the opposite arrow simultaneously. Alternatively, you can use your preferred method of trade exit.
Important Considerations for Effective Trading:
To achieve the best results, always practice proper money management. Developing discipline, managing emotions, and understanding market psychology are crucial for becoming a successful trader. Avoid trading during unfavorable times and market conditions such as low volume/volatility, beyond major sessions, exotic currency pairs, or when spreads are wider than usual.
Setting Up the Open Scalping Volatility Trading System in MT4
Installation Guide:
The Open Scalping Volatility Trading System is a valuable addition to any trader's toolkit. While it offers effective signals for trend-following and intraday scalping, it is important to maintain realistic expectations. No technical analysis tool can guarantee 100% accuracy, and occasional false signals are inevitable. Its performance can vary depending on market conditions. By combining this system with solid money management practices, you can enhance your trading strategy and improve your overall results.
Components of the System:
- Auto Pivot Indicator: Identifies critical market levels.
- Non-Lag Dots: A momentum indicator functioning similarly to the Parabolic SAR.
- Percentual ZigZag: Displays buy/sell arrows.
- Volatility Pivot Level: Provides dynamic support and resistance that moves with price.
- Price Trigger Signal: Indicates the best moments for forex entry points.
Long Trade Entry:
- Price closes above both Non-Lag Dots and Volatility Pivot levels.
- The current Auto Pivot levels support the price.
- Percentual ZigZag plots an upward arrow below the triggering bar.
- Price Trigger Signal value turns positive (above 0).
- Set your stop loss below the current Volatility Pivot level.
- Price closes below both Non-Lag Dots and Volatility Pivot levels.
- The current Auto Pivot levels resist the price.
- Percentual ZigZag plots a downward arrow above the triggering bar.
- Price Trigger Signal value turns negative (below 0).
- Set your stop loss above the current Volatility Pivot level.
Exit the trade when the price reaches the next Auto Pivot level, the Non-Lag Dots change position, and the Percentual ZigZag plots the opposite arrow simultaneously. Alternatively, you can use your preferred method of trade exit.
Important Considerations for Effective Trading:
To achieve the best results, always practice proper money management. Developing discipline, managing emotions, and understanding market psychology are crucial for becoming a successful trader. Avoid trading during unfavorable times and market conditions such as low volume/volatility, beyond major sessions, exotic currency pairs, or when spreads are wider than usual.
Setting Up the Open Scalping Volatility Trading System in MT4
Installation Guide:
- Download and Extract: Download the Open Scalping Volatility Trading System.zip archive and unpack it.
- Copy Indicator Files: Navigate to your MetaTrader 4 (MT4) platform directory: File > Open Data Folder > MQL4 > Indicators. Paste the indicator files here.
- Copy Template File: Similarly, navigate to the Templates folder in the MQL4 directory and paste the template file.
- Apply Template: Open your desired trading chart, right-click, hover over “Templates,” and select "Open Scalping Volatility.tpl" from the list.
The Open Scalping Volatility Trading System is a valuable addition to any trader's toolkit. While it offers effective signals for trend-following and intraday scalping, it is important to maintain realistic expectations. No technical analysis tool can guarantee 100% accuracy, and occasional false signals are inevitable. Its performance can vary depending on market conditions. By combining this system with solid money management practices, you can enhance your trading strategy and improve your overall results.