Trading system for extreme scalping “Forex Speedometer
Forex Speedometer” trading system is designed for scalping fans. It is based on the price change rate, which is determined by the number of ticks per second. The system is designed to work on small timeframes below M15. It is also desirable to choose the most volatile pairs and a suitable time for trading. To work with “Forex Speedometer” system you need to install two indicators, a template and a font. The font is installed via the Windows control panel or the context menu of the font file. It should also be noted that the system will work only with five-digit quotes.
The speedOmeter_PRO indicator shows the number of ticks per second in the lower chart and in a kind of “speedometer”. The speedOmeter_tick_chart indicator displays a tick chart in the terminal window
Trading tactics is based on the position of the tick chart and the speed of price change on the speedometer. In this case, graph M15 serves to determine the general trend. Buy when the tick chart moves upwards and the price change rate is higher than 2.5 ticks per second. The stoploss is not set here, but simply fix the loss at the level of 10-15 points, depending on the volatility of the pair
The deal is closed when the price on the tick chart reaches the “overbought zone” and starts to move down. The price change rate drops below 1.5 ticks per second.
Similarly, we sell when the tick chart moves downwards and the price change rate exceeds 2.5 ticks per second. We exit the deal when the tick chart is in the “overbought zone” and the price change rate drops below 1.5 ticks per second.
Naturally, working with this system requires a stable psyche and certain skills. It’s more like a gambling game, but the profits here can be substantial.