Scalping Chimp Trading System has made a successful combination of both trend and momentum indicators all together to generate the best Forex signal service for its users. This system uses some of the best trend following Forex indicators to ensure the delivery of the progressive performance while trading at the market.
Scalping Chimp Trading System focuses on short term trading opportunities and fits well with M1 to M15 timeframe charts but the amazing fact is, it works at all kinds of Forex currency pair to trade on. Following the system rules with proper discipline can make your Forex scalping life lot more progressive over the time.
Scalping Chimp Trading System Overview
After the installation of Scalping Chimp Trading System at your Forex MT4 terminal, your trading chart will be appeared as the following image:
|M1 to M15
Scalping Chimp Trading System Anatomy
- ADXMA16Bar: This moving average defines the current trend direction. Price bars close and hold above its level signals the bullish trend and in a contrary, price remains below its level indicates the bearish trend of the market.
- ADXMA12Bar: It works as like as ADXMA16Bar but in case of the bullish trend, it must cross and hold above the ADXMA16Bar and the vice versa to ensure the bearish trend. It also produces crossover signals along with the NonLagMA indicator.
- NonLagMA with MA Cross OC: It plots the bullish crossover signal whenever it manages to move above the ADXMA12Bar and the signal is plotted as an upward blue arrow by the NonLagMA. On the other hand, NonLagMA moves below the ADXMA12Bar signals the bearish crossover with a downward red arrow from the Ma Cross OC indicator.
- Chimp 2.1: This Forex oscillator indicator delivers the overbought/oversold status of the market momentum. Its value in between -0.3 to -0.6 signals the oversold condition and a value in between 0.3 to 0.6 indicates the overbought condition of the market.
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Scalping Chimp Trading System: Buy Parameters
- Price closes and holds above the ADXMA16Bar
- NonLagMA moves above the ADXMA12Bar
- MA Cross OC plots an upward blue arrow to confirm the bullish crossover
- Chimp 2.1 value turns positive after reaching its oversold area
- Buy triggers after all of the above conditions are met
- Set stop loss below the ADXMA16Bar level
- Exit long when all of the system indicators signal the bearish momentum at the same time
Scalping Chimp Trading System: Sell Parameters
- Price closes and holds below the ADXMA16Bar
- NonLagMA moves below the ADXMA12Bar
- MA Cross OC plots a downward red arrow to confirm the bearish crossover
- Chimp 2.1 value turns negative after reaching its overbought area
- Sell triggers after all of the above conditions are met
- Set stop loss above the ADXMA16Bar level
- Exit short when all of the system indicators signal the bullish momentum at the same time