Stochastic and Parabolic Sar Scalping - forex trading times new zealand

Stochastic and Parabolic Sar Scalping ~ forex trading times new zealand

This scalping system is based on the Stochastic and Parabolic Sar indicators Its a Trend momentum trading system.

Currency pairs: top majors EUR/USD, GBP/USD, AUD/USD, USD/CHF.

Index: S&P 500 and Dow Jones.

Indicators:

Stochastic oscillators: 13,8, 3, close);

Parabolic Sar (0.0, 0.02);

Rules

Open 60 min chart and determinate the current short trend.

If the short trend is up – trades only long (buy), If the short trend is down – trades only short (sell).

Buy

Trend is up.

Dot the parabolic indicator is below the candle price.

Wait the Stochastic bounces the bottom and crosses upward, at the opening of the next candle place a buy order.

Sell

Trend is down.

Dot the parabolic indicator is above the candle price.

Wait the Stochastic bounces the top and crosses upward, at the opening of the next candle place a buy order.

Stop loss 2 pips below the previous high/low swing.

Profit targe 5- 10 pips (discretionary).

Stochastic and Parabolic Sar Scalping

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