Recently I've been trying to develop a scalping system based on a few indicators, I'm even having an alert system developed on it, but I seriously need some new ideas, I've been playing around with the indicators and template, but I have such a headache right now, I'm all out of ideas!! ...terrible
So I'm turning to the community, the trading system is based upon another system located here.
The main indicator is PJ-RSI, I'm using four of PJ-RSI (14, 21, 28 and 35) with overbought and oversold levels at 50, when all of them are red then its a sell, when all are green its a buy.
But this produces a lot of signals, problem is to determine which trades to take and avoid.
I've been playing around with the system on M5 chart, using OsMA, even Waddah Attar Scalping indicator (I like how waddah can determine when not to trade with no green or red bars).
The system could be used as a breakout system, after price action ranged and the bollinger bands come together. You could then trade in the direction of of the signal based on Waddah, OsMA and PJ-Over.
Note: This system could be used for the market open of London and New York.
I really need some help with this, if I can get some solid ideas, and work it into the alert system I will share it on the trading systems thread.
So I'm turning to the community, the trading system is based upon another system located here.
The main indicator is PJ-RSI, I'm using four of PJ-RSI (14, 21, 28 and 35) with overbought and oversold levels at 50, when all of them are red then its a sell, when all are green its a buy.
But this produces a lot of signals, problem is to determine which trades to take and avoid.
I've been playing around with the system on M5 chart, using OsMA, even Waddah Attar Scalping indicator (I like how waddah can determine when not to trade with no green or red bars).
The system could be used as a breakout system, after price action ranged and the bollinger bands come together. You could then trade in the direction of of the signal based on Waddah, OsMA and PJ-Over.
Note: This system could be used for the market open of London and New York.
I really need some help with this, if I can get some solid ideas, and work it into the alert system I will share it on the trading systems thread.
Attached File(s)
EuriskoFX Scalping System.zip
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675 downloads