FX Scalper Pro is a sophisticated trend breakout strategy designed for binary options and forex scalping. This strategy employs two key indicators: Bollinger Bands and the FX Scalper, to effectively identify breakout opportunities and make informed trading decisions.
Strategy
Setup
Time Frames: 1-minute (M1) and 5-minute (M5)
Platform:
MetaTrader 4 (MT4)
Trading Sessions: London and New
York
Expiration Time for Binary Options: 1 to 5
candles
Indicators Used
Bollinger Bands Period:
5,Deviation: 1;
FX Scalper Indicator Period: 21,
Green Bar:
Uptrend, Red Bar: Downtrend.
Trading Rules
Buy
Call (Up) Trade
Entry Criteria:
Open a CALL
binary option when both conditions are met:
The price breaks
above the upper Bollinger Band.
The FX Scalper indicator
displays a green bar, indicating an uptrend.
Sell
Put (Down) Trade
Entry Criteria:
Open a PUT
binary option when both conditions are met:
The price breaks
below the lower Bollinger Band.
The FX Scalper indicator
displays a red bar, indicating a downtrend.
Exit
Strategy
Binary options have predefined expiration times
(e.g., 1 minute, 5 minutes).
Your position will automatically
close at expiration.
Ensure you select an expiration that aligns
with your trading horizon and the current market volatility.
Key
Points
Confirm Breakouts: Use Bollinger Bands to identify
breakouts and confirm with the FX Scalper indicator for higher
accuracy.
Expiration Timing: Choose an expiration that matches
the market's volatility and your trading plan.
Test Before Live
Trading: Always practice this strategy in a demo account to
understand its mechanics thoroughly before applying it to a live
trading environment.
By leveraging Bollinger Bands breakouts
combined with the FX Scalper indicator confirmation, the FX Scalper
Pro strategy aims to enhance the probability of success in binary
options trading.
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