This 5 Minute Forex Scalping Robot Using Parabolic SAR And 200 EMA uses one easy forex scalping system to use as the rules are really simple to follow.
The Scalping Robot uses the following indicators in the strategy:
Parabolic SAR (settings:0.02 step)
200 exponential moving average applied to the close.
de-munyuk-indicator
Best timeframe: 5 minute charts
Trading Sessions: UK and US
Currency Pairs to trade: any with low spread, like EURUSD, GBPUSD, USDJPY
Buying Rules
- Price must be above the 200 EMA (this indicates an uptrend)
- Parabolic SAR dots appear below the price (this indicates bullishness)
- !De_Munyuk indicator must be green or flips from red to green (short term uptrend)
- When the above 3 conditions are met then the EA opens a Buy trade and places a stop loss X Pips (default: 1 pip) below the Parabolic SAR Dot.
- The EA also sets Take profit at Y Pips (default: 15 pips)
Selling Rules
- Price must be below the 200 EMA (this indicates a downtrend)
- Parabolic SAR dots appear above the price (this indicates bearishness)
- !De_Munyuk indicator must be red or flips from green to red (short term downtrend)
- When the above 3 conditions are met then the EA opens a Sell trade and places a stop loss X Pips (default: 1 pip) above the Parabolic SAR Dot.
- The EA also sets Take profit at Y Pips (default: 15 pips)
