Trendline Scalper Trading Indicator System
Trendline Scalper Trading Indicator System
The Trendline Scalper Trading System fits all kinds of timeframes and currency pairs, but we suggest trading on lower timeframes. The Trendlines are displayed directly on the main trading chart, and the Stochastic Oscillator is displayed in a separate window below it. Feel free to experiment with the settings and parameters to fit your preferences.
How to trade with the Trendline Scalper Trading System?
The Trendline Scalper Trading System consists of only two indicators, which are the following:
- Trendline V1.1: The system’s core spots the possible setups to draw the trendlines and automatically plots the slope. These levels can be considered the market’s dynamic support and resistance levels. It also defines entry points for traders. Green trendline stands for sell traders, and green trendline stands for buy trades.
- Stochastic Oscillator: it’s of the most popular forex oscillators. Its value under 20 means the oversold market state, and above 80 reflects the overbought market state.
Buy Signal
Follow these steps for a long trade:
- The price is above the red trendline.
- The stochastic Oscillator drops below the 20 levels.
- Price touches and rejects the red trendline.
- Buy trade is triggered after the above-mentioned conditions are met.
- Set stop-loss (SL) a few pips below the red trendline.
- Take profit or exit trade whenever the price touches the green trendline, or use your preferred method of trade exit.
Sell Signal
Follow these steps for a short trade:
- The price is below the green trendline.
- The stochastic Oscillator rises above the 80 levels.
- Price touches and rejects the green trendline.
- Sell trade is triggered after the above-mentioned conditions are met.
- Set stop-loss a few pips above the last swing low of the market.
- Take profit or exit trade whenever the price touches the red trendline, or use your preferred method of trade exit.
As always, to achieve the best results, remember about good money management. It would help if you had discipline, emotions, and psychology to be an excellent profitable trader. It is a must to know when and when not to trade. Avoid trading during bad times and market conditions like low volatility/volume, major forex sessions, exotic currency pairs, wider spread, etc.
Trendline Scalper Trading Indicator System download link
