Luxury Scalping is a Moving Average based trend-following forex trading strategy. It is mostly used for scalping purposes. Thus, M5 and M15 timeframe charts are the ideal matches for this strategy. Its latest version is upgraded with its own built-in signal filtering indicator to maintain a better accuracy in signaling the trades.
Luxury Scalping works on all kinds of forex currency pair charts thus, its user enjoys a full flexibility to choose their favorite trading instruments from the trading platform. The simplicity of this system offers a greater advantage to the newbie forex scalpers.
Luxury Scalping Overview:
After installing Luxury Scalping at your forex MT4 terminal, your trading chart will appear like the following image:
|Time Frame||Currency Pairs||Indicator Factors||Ratings|
|M5 & M15||Any||4||9.8/10|
Luxury Scalping Anatomy:
- 20 & 50 EMA: These 20 and 50-day Exponential Moving Averages had been added to generate the crossover trend signals. 20 EMA jumps higher than 50 EMA represents the bullish crossover and 50 EMA moves higher than 20 EMA is interpreted as the bearish crossover.
- 200 EMA: It is necessary to determine the intraday trend to decide at which side you’ll prefer to choose (buyers or sellers). Price closes above 200 EMA mean the intraday trend is bullish. Conversely, price holds its position right below the 200 EMA signals the bearish day trend of the market.
- Max OBOS Oscillator: This indicator uses a dual band cloud system (red & blue) to determine the momentum status of the market. Red clouds move above blue clouds at its -0.85 level signals the long entry at the oversold condition of the market. An opposite crossover at 0.85 level will be interpreted as the short signal at the overbought condition of the market.
Also Read: The Best Forex Trading Strategy Ever
Luxury Scalping: Buy Parameters
- 20 EMA moves above 50 EMA
- Price remains above the 200 EMA
- Max OBOS Oscillator signals the long entry at its oversold level
- Buy triggers when the above conditions are met
- Set stop loss below the 200 EMA level
- Exit long/take profit whenever 20 EMA moves below 50 EMA
Luxury Scalping: Sell Parameters
- 20 EMA moves below 50 EMA
- Price remains below the 200 EMA
- Max OBOS Oscillator signals the short entry at its overbought level
- Sell triggers when the above conditions are met
- Set stop loss above the 200 EMA level
- Exit short/take profit whenever 20 EMA moves above 50 EMA