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What it is is defined by the Trendline Scalper Trading System. It only employs a trendline trading strategy. Because of its swift and precise ability to plot the trendline slope, it became well-known among trend-following traders. Traders who struggle to identify and draw trendlines for their trade entries can use this automatic trendline-supporting tool.
Though all periods and currency pairs are compatible with the Trendline Scalper Trading System, we advise trading on shorter timeframes. The Stochastic Oscillator is shown in a separate window underneath the main trading chart, while the Trendlines are shown immediately on the chart. To suit your preferences, feel free to play around with the settings and parameters.
What is the Trendline Scalper Trading System and how does it work?
Only two indicators make up the Trendline Scalper Trading System, and they are as follows:
- The system’s core detects potential locations for trendline installations and automatically depicts the slope in Trendline V1.1. These points can be regarded as the dynamic support and resistance levels for the market. For traders, it also specifies entry points. Green trendlines represent purchase trades and sell transactions, respectively.
- One of the most well-known forex oscillators is the stochastic oscillator. Under 20 indicates an oversold market, and beyond 80 indicates an overbought market.
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Buy Signal
- Price is higher than the red trendline.
- Under 20 levels, the stochastic oscillator deviates.
- Price tries to cross the red trendline but fails.
- As soon as the aforementioned conditions are satisfied, a buy trade is initiated.
- Stop-loss (SL) should be placed a few pip’s below the red trendline.
- When the price reaches the green trendline, take a profit or close the trade, or utilize your preferred method of trade exit.
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 | No Minimum Deposit ECN Acount No Commission | |
 | Min Deposit of 20$ |
Sell Signal
- Price is under the emerald trendline.
- The stochastic Oscillator increases above levels of 80.
- The green trendline is touched and rejected by the price.
- Following the fulfillment of the aforementioned criteria, the sell trade is initiated.
- Set your stop-loss a few pip above the market’s most recent swing bottom.
- When the price reaches the red trendline, take a profit or close the trade, or utilize your preferred method of trade exit.
Always keep in mind the importance of wise money management for the greatest outcomes. To be a great lucrative trader, it would help if you had control over your emotions, psychology, and discipline. Knowing when to trade and when not to is essential. Avoid trading when the market is unstable or has little volume, during important forex sessions, when there are exotic currency pairs, when there is a huge spread, etc.
Installer’s Manual
Save the Trendline Scalper Trading indicator System to your computer.Download the Trendline Scalper Trading System’s forex indicator files from the bottom of this post’s zip package, unpack them, and then paste them into the MetaTrader 4 trading platform’s MQL4 folder.
By selecting one of the following choices from the menu, you can open this folder:
MQL4 > Indicators > File > Open mql Data Folder.
In order to use the Trendline Scalper Trading System, you must also copy the template file into the templates folder. To continue, choose Template > Open Templates from the context menu when you are on a chart, and then paste the Trendline Scalper Trading indicator System.tpl file into the mql folder. To load the indicator system on your chart, choose the file and click Open.
Bottom Line
It is highly recommended that you include the Trendline Scalper Trading System to your trading toolkit. Your chances of success will increase with a sound forex strategy. But always remember to set reasonable goals. Like any other technical tool for forex research, it is not always able to deliver precise entry signals. As a result, this system of forex trading indicators occasionally generates misleading entry signals. The state of the market will have a substantial impact on its performance.
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