This Forex trading system can be used on any timeframe, but it is best suited for scalping on five-minute charts. Trading time is recommended from 07:00 to 17:00 GMT. To start working, open the EUR/USD chart and set the “davidbradshaw” template. The lower window shows the direction of movement for six currency pairs on all timeframes. Then open five-minute charts for GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/CAD and set the same template. The system is ready to trade. All you need to do is to monitor the pairs and determine the appropriate one for opening trades. Only two indicators are used for this purpose. This is “ZWINNER_Stochastic” and “ZWinnerColorSignals”, which changes from blue to red when the trend changes.
A Buy position opens when the red Stochastic line crosses up the blue line and rises above the 20 level. The line of the “ZWinnerColorSignals” indicator should be blue. The stop is set several points below the minimum of the third candle from the entrance level. The position is closed when the indicator color changes to red or Stochastic falls below 80.
A sell position opens when the red Stochastic line crosses down the blue line and falls below 80. The “ZWinnerColorSignals” indicator line should be red. The stop is set several points above the maximum of the third candle from the entrance level. The position is closed when the indicator changes its color to blue, or when Stochastic rises above level 20.These exit methods are not mandatory. Other options are possible. For example, the time of the session ends, the price has entered the flute, stochastics has changed the situation earlier and so on.See also on our website which scalping brokers are best for you.Download system files