Magnum Scalping V3 is a trend following forex scalping strategy. It has been composed of several important trend-based forex indicators to spot short-term trade opportunities in the market. Since it has passed the backtest result with higher winning rates, we can tell the combination is quite successful at the end.
Magnum Scalping V3 suits great with all kinds of forex currency pairs to trade. Moreover, you’ll be able to apply this strategy to trade at any timeframe chart. For its easy demonstration and decent look, newbie forex scalpers are widely using it to solve their regular scalping tasks.
Magnum Scalping V3 Overview:
After installing Magnum Scalping V3 at your forex MT4 terminal, your trading chart will appear like the following image:
|Time Frame||Currency Pairs||Indicator Factors||Ratings|
Magnum Scalping V3 Anatomy:
- SuppRTF: It plots the temporary support and resistance levels at the main chart window. It helps traders to find the ground from where they can decide the market entries. These levels are also considered as the short-term market swing levels.
- Stochastic Arrow: You don’t need to spot Stochastic signals yourself anymore. This indicator signals the oversold condition with the upward arrows and the overbought condition with the downward arrows respectively.
- M15 TMA Bands: These bands work as the dynamic support and resistance levels. Look for the buy from the lower band area and short from the upper band levels. This indicator also helps to adjust the stop-loss level according to the price action progresses.
Also Read: Radar Signal Trading System
Magnum Scalping V3: Buy Parameters
- Price is supported by the red SuppRTF levels
- Price holds its position right above the lower M15 TMA Band
- Stochastic Arrow plots an upward arrow below the respective signaling bar’s low
- Buy triggers when all of the above conditions are met
- Set stop loss below the lower M15 TMA Band
- Take profit/exit long whenever price hits the upper M15 TMA band
Magnum Scalping V3: Sell Parameters
- Price is resisted by the blue SuppRTF levels
- Price holds its position right below the upper M15 TMA Band
- Stochastic Arrow plots a downward arrow above the respective signaling bar’s high
- Sell triggers when all of the above conditions are met
- Set stop loss above the upper M15 TMA Band
- Take profit/exit short whenever price hits the lower M15 TMA band