Momentum Scalper Trading System uses multiple trend-following forex trading indicators and momentum tools in order to establish a trading strategy that represents the short-term trading opportunities at the market. As a scalping system, it works well only in between M1 to M15 timeframe charts of the Metatrader 4 platform.
Momentum Scalper Trading System applies a very simple approach to assist its users for carrying out everyday short-term trading tasks thus suitable for newbie scalpers. Moreover, this system can be applied to trade all kinds of forex currency pairs around the financial markets.
Momentum Scalper Trading System Overview
After the installation of the System at the MT4 terminal, your trading chart will appear like the following image:
Also Read: Radar Signal System
Momentum Scalper Trading System Anatomy
- 25 MA Channel: It applies a dual-band channel that identifies short-term market trends. The upper band represents the 25-day Smoothed Moving Average(High) & the lower one is 25 MA(Low). Price closing above the 25 MA Channel is considered as the bullish trend of the market, and if closes below the channel then interpreted as a confirmation of bearish trend of the market.
- Momentum Scalper: This indicator uses colored bars in a separate oscillator window for signaling the market momentums. Momentum Scalper bars carrying positive value signals the bullish momentum and turns negative to signal the bearish momentum of the market.
- BH Ergodic: It has been added as a filter of the market momentum signals generated by other indicators of this system. BH Ergodic moves above the zero levels when the momentum is bullish and drops below the zero levels to signal the validity of the bearish momentum of the market.
Momentum Scalper Trading System: Buy Parameters
- Price successfully closes above the 25 MA Channel
- Momentum Scalper bars turn positive
- BH Ergodic moves above the zero level
- Buy triggers when the above conditions are met
- Set stop loss below the 25 MA Channel area
- Take profit/exit long whenever both Momentum Scalper and BH Ergodic turn negative at the same time
Momentum Scalper Trading System: Sell Parameters
- Price successfully closes below the 25 MA Channel
- Momentum Scalper bars turn negative
- BH Ergodic moves below the zero level
- Sell triggers when the above conditions are met
- Set stop loss above the 25 MA Channel area
- Take profit/exit short whenever both Momentum Scalper and BH Ergodic turn positive at the same time.