Gold Scalper Forex Trading Strategy has been developed for the short-term traders who only focus on Gold trading, considering it as a great financial instrument for scalping opportunities.
This strategy is driven by a trend-following system that continuously looks for changes in the market momentum and delivers the signal accordingly.
Gold Scalper Forex Trading Strategy particularly works for the Gold trading only. Besides, as a scalping strategy, it suits well with M1 to M15 timeframe charts within the MT4 platform. However, its configuration can be modified and can be tuned as per the requirements of its users.
Gold Scalper Forex Trading Strategy Overview
Download the Strategy and install it at the MT4 terminal. Once you’re done, load the system and find your chart like the image below:
Gold Scalper Forex Trading Strategy Explanation
- Buy-Sell Scalper: It is a trend-oriented short-term trading instrument, specially designed for scalping Gold. The value of the instrument is greater than the indicator level means the trend is bullish. For better understanding, it changes its colors whenever there is a change in market trends. Moreover, you may use it to determine the trailing stops of your market entries.
- RSI Filter: RSI Filter represents the overbought/oversold condition of the market. It turns green when the market is in an oversold condition and turns blue when it hits the overbought level. It guides traders to buy from the low and sell from the top. When all the indicators including RSI Filter signals for a single direction of the market, an arrow appears at the main chart window directing the buy or sell signals for better understandings.
Also Try: Exness Broker
Gold Scalper: Buy Conditions
- Buy-Sell Scalper turns in to blue with price closing above its levels
- RSI Filter turns green
- The signal arrow points upwards
- A buy can be triggered when the above conditions are done
- Set stop loss below the current Buy-Sell Scalper level
- Exit long/take profit whenever the indicator turns into red color
Gold Scalper: Sell Conditions
- Buy-Sell Scalper turns in to red with price closing below its levels
- RSI Filter turns blue
- The signal arrow points downwards
- A sell can be triggered when the above conditions are done
- Set stop loss above the current Buy-Sell Scalper level
- Exit short/take profit whenever the indicator turns into blue color