Contrarian Scalping System

Contrarian Scalping System is a trend following forex trading system. Like the name says it is a contrarian approach of scalping with its indicators with unique algorithms. Contrarian Scalping System is a very simple yet very reliable trend following scalping forex trading system. The technical indicators in the main chart window generate the trading signal and the indicator in the indicator window confirms the signals. Since Contrarian Scalping System is a scalping system it can be used to trade on 5 minute and 1 minute time frame. With a discipline to fully follow the rules of the system sincerely, one can make money from the market on a consistent basis.

Contrarian Scalping System Overview

Time Frame Currency Pairs Number of Indicators Ratings
1 minute and 5 minute Any 4 9.7/10

 This is a simple trend following scalping forex trading strategy and we’ve rated it 9.7 out of 10. Contrarian Scalping system will look like this when you put in your MetaTrader 4.

Contrarian Scalping System
Contrarian Scalping System

Now you see what Contrarian Scalping System looks like. Let’s go through the indicators used in Contrarian Scalping System.

 Contrarian Scalping Indicators Overview

Contrarian Scalping Indicators
Contrarian Scalping Indicators
Main Chart Window Window 1
Envelopes ADX
Stochastic cross alert Moving average
  •  Envelopes

Envelopes are the two moving averages moving in a channel like fashion. The lower moving average of the envelop works as a support level and the upper moving average works as a resistance. Idea is to look for long when lower moving average is tested and vice versa.

  • Stochastic cross alert

The green and red arrows you see are the Stochastic Cross Alert. Green arrows indicate buying and red arrows indicate selling.

  • ADX

ADX indicator has green red and blue oscillators. Buy and sell signals will be verified by the crossovers of these oscillator. When the blue and red oscillator is above the green oscillator, it’s a bullish signal and vice versa.

  • Moving average

Moving average, here, moves with ADX line. So, they both actually have same job.

Contrarian Scalping System: Buy Parameters

Contrarian Scalping Buy Parameters
Contrarian Scalping Buy Parameters
  •  Market should be bouncing from the recent support zone.
  • Stochastic oscillator alert indicator (green arrow) should appear below the market.
  • Green oscillator of ADX should cross above the red oscillator.
  • Buy the currency pair when all of the above conditions are met.
  • Set your stop loss just below the recent support level.
  • Book your profit when a stochastic oscillator alert indicator (red arrow) appears above the market.

You Must Read: The Best Forex Trading Strategy Ever

Contrarian Scalping System: Sell parameters

Contrarian Scalping Sell Parameters
Contrarian Scalping Sell Parameters
  • Market should be retracing from the recent resistance zone.
  • Stochastic oscillator alert indicator (red arrow) should appear above the market.
  • Red oscillator of ADX should cross above the green oscillator.
  • Sell the currency pair when all of the above conditions are met.
  • Set your stop loss just above the recent resistance level.
  • Book your profit when a stochastic oscillator alert indicator (green arrow) appears below the market.
Contrarian Scalping System
Contrarian Scalping System
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I have been actively trading stocks and currencies since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund which has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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