Silver Pattern Foreign exchange Scalping Technique

Dealers shared when it comes to scalping. Some startle at the thought that losing your money is a surefire way, while others think it's the only way to make money from trading. The truth is that both are wrong. This is not the only way to make money from trading. Many traders have set up their swing trading accounts. It is also not a surefire way to lose money if you know what you are doing. In fact, many traders have made a fortune scalping the market. This is because scalping can convert your account pretty quickly. If you make money, you make faster, and if you lose money, you lose it faster.

Silver Trend Forex Scalping Strategy is a scalping strategy that benefits from the explosive movements on the 5 minute chart. It's not as fast as other scalping strategies, but it still allows you to increase your profits on a pair several times a day.

The silver trend indicator

The silver trend indicator is a trading indicator that provides entry signals based on a confirmed trend and multiple confluences within the indicator. It conveniently delivers signals by placing arrows on the price chart that point in the direction of the trend. Dodgy blue arrows are printed that point upward if a medium-term trend reversal is detected and magenta-colored arrows that point downward if a reversing trend reversal is detected. This enables traders to pinpoint specific entries when the trend reversal is confirmed.

The free scalping indicator

The Free Scalping Indicator is a custom oscillating indicator that shows the market's tendency towards the medium-term trend. It's kind of like the Awesome Oscillator (AO). It is an unlimited oscillating indicator that swings around zero.

The indicator draws histogram bars in a separate window. If the indicator's histogram bars are positive, lime bars are printed, indicating that the market is bullish. If the histogram bars are negative, red histogram bars are printed, indicating a declining market distortion.

Crossing the center line or changing the color of the histogram bars could also serve as an input signal. You will find that the signals from this indicator are very accurate when used correctly and are very likely to be entered.

Trading strategy concept

The Silver Trend Forex Scalping Strategy is a scalping strategy based on the confluence of the Silver Trend Indicator and Free Scalping Indicator. These are complementary indicators that are well suited to the medium-term trend.

Before we consider entries, we will filter trades based on the long-term trend of the 5 minute chart. For this purpose, we use the 200-period exponential moving average (EMA). The 200 EMA is a commonly used long-term trend among many dealers. To determine the long-term trend, we will examine the price location in relation to the 200 EMA. If the price is above 200 EMA, the market is classified as long-term bullish. If the price is lower, the market is classified as declining in the long term. The slope of the 200 EMA should also be considered. An upward 200 EMA is considered bullish, while a downward 200 EMA is considered bearish. All trading configurations should be aligned with the direction of the 200 EMA.

If the filter of the 200 EMA has already been checked, we could consider trading configurations based on the confluence of the silver trend indicator and the free scalping indicator.

Indicators

  • 200 EMA (gold)
  • SilverTrend_Signal_With_Alert_v3
  • Freescalping indicator

Time window: 5 minute chart only

Currency pair: Major and minor pairs

Trading session: Meeting in Tokyo, London and New York

Buy (Long) Trade Setup

entry

  • The price should be above 200 EMA, indicating a bullish long-term trend
  • The 200 EMA should trend higher, indicating a bullish long-term trend
  • The silver trend indicator should print a downward-facing blue arrow indicating a bullish reversal of the medium-term trend
  • The Free Scalping Indicator should print lime-positive histogram bars that indicate a bullish medium-term trend
  • Enter a buy order for the confluence of the above rules

Stop loss

  • Set the stop loss at the support level below the entry candle

output

  • Close the trade as soon as the Silver Trend indicator prints a downward-pointing magenta arrow

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Sell ​​(Short) Trade Setup

entry

  • The price should be below 200 EMA, indicating a declining long-term trend
  • The 200 EMA should fall, indicating a declining long-term trend
  • The silver trend indicator should print a downward-pointing magenta arrow indicating a reversing reversal of the medium-term trend
  • The Free Scalping Indicator should print red negative histogram bars that indicate a declining medium-term trend
  • Enter a sales order for the confluence of the above rules

Stop loss

  • Set the stop loss to the resistance level above the entry candle

output

  • Close the trade as soon as the silver trend indicator shows a blue arrow pointing upwards

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Conclusion

The Silver Trend Forex Trading Strategy is a scalping strategy that lives from strong trend movements on the 5-minute chart. This strategy enables traders to do business that can lead to profits that are multiples of the risk to trading.

With this trading strategy, the key lies in trading management. This includes knowing where to place the stop loss that is not too close to the entry level so the trade can breathe if the trade does not immediately push a strong trend. Another skill that should be developed is knowing when to stop stop loss on breakeven. Traders could also benefit even more if they could track the stop loss at a logical distance from the price, as this would allow them to get more profits out of a winning trade.


Installation instructions for forex trading strategies

Silver Trend Forex Scalping Strategy is a combination of Metatrader 4 (MT4) indicator (s) and template.

The essence of this forex strategy is to transform the accumulated historical data and trading signals.

The Silver Trend Forex Scalping strategy offers the opportunity to recognize various peculiarities and patterns in price dynamics that are not visible to the naked eye.

Based on this information, traders can accept further price movements and adjust this strategy accordingly.

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Click here to get the XM Trading Account Opening Guide step by step

How do I install Silver Trend Forex Scalping Strategy?

  • Download Silver Trend Forex Scalping Strategy.zip
  • * Copy mq4 and ex4 files into your Metatrader directory / Experts / indicators /
  • Copy the tpl file (template) into your Metatrader directory / templates /
  • Start or restart your Metatrader client
  • Choose the chart and time frame in which you want to test your forex strategy
  • Right-click on your trading chart and move the mouse pointer over "Template".
  • Move right to select Silver Trend Forex Scalping Strategy
  • You will see that the Silver Trend Forex Scalping strategy is available on your chart

* Note: Not all forex strategies come with mq4 / ex4 files. Some templates are already integrated in the MT4 indicators of the MetaTrader platform.

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