This is a 5 Minute Forex Scalping Robot using Parabolic SAR And MACD Candle Indicator.
You can also use this Forex Robot on larger time-frames as well for swing trading or position trading. Just remember to adjust profit targets if you switch to larger time-frames.
You need 3 indicators for this scalping robot:
- 125 EMA
- MACD Candles V3 Indicator
- Parabolic SAR (0.02 step)
You can use the scalping robot on these pairs: EUR/USD, GBP/USD, EUR/JPY, GBP/JPY
For Trading sessions: Euro and US
Buying Rules
- Price must be moving above the 125 EMA
- The MACD candle must be green.
- The Parabolic SAR dot must form below the price.
- When the above three conditions are met the EA opens a Buy trade and places stop loss at X Pips Offset (1 pip default) below the parabolic SAR dot.
- Take profit is set by the EA at Y Pips (default 20 pips) or Risk:Reward of 1:2 (you can set the option for the EA to use)
Selling Rules
- Price must be moving below the 125 EMA
- The MACD candle must be red.
- The Parabolic SAR dot must form above the price.
- When the above three conditions are met the EA opens a Sell trade and places stop loss at X Pips Offset (1 pip default) below the parabolic SAR dot.
- Take profit is set by the EA at Y Pips (default 20 pips) or Risk:Reward of 1:2 (you can set the option for the EA to use)
