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This article will assist Volatility Index 75 traders on how to scalp quick profits when trading Volatility index 75. The BeanFX Volatility Index 75 Scalper is a combination of four Meta Trader 5 indicators.
Basically, the indicators are Moving averages, Relative Strength Index, Ichimoku and Envelopes. The ideal time frame for this strategy are 15 mins and 30 mins time frames. (Please try this strategy on a demo account before going live).
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Check Out:
How To Setup A Demo Trading Account – Strictly For Beginners!
Build Your Own Expert Advisor Online (Free)
BeanFX Nasdaq 100 Index Scalper
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How To Setup The Indicators
Two moving averages are installed on the main MT5 window with the following settings.
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When the OrangeRed moving average cross the Blue moving average up, that is a BUY signal. When the OrangeRed moving average cross the Blue moving average down, that is a SELL signal.
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Price Swing points
In a Bullish trend, swing high is formed when price retraces around the OrangeRed moving average with two or three bearish candle bars. Price close below the OrangeRed moving average is important for temporary top to be established (the 2nd or 3rd candle must close below the 5MA).
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In a Bearish trend, swing low is formed when price retraces around the OrangeRed moving average with two or three bullish candle bars. Price close above the OrangeRed moving average is important for temporary bottom to be established (the 2nd or 3rd candle must close above the 5MA).
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Indicator Window 1
The relative strength Index, moving averages and envelopes indicators are installed on Indicator Window 1 with the following settings.
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Buy signal occurs when the Red moving average cross up on the LightYellow moving averages above the Blue moving average as shown below.
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Sell signal occurs when the Red moving average cross down on the LightYellow moving averages below the Blue moving average as shown below;
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Indicator Window 2
The relative strength Index, moving averages and Ichimoku Kinko Hyo indicators are installed on Indicator Window 2 with the following settings.
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Buy signal occurs when the Red Relative Strength Index cross up on the moving averages. This signal is more significant if the moving averages are above the Ichimoku Kinko Hyo band.
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Sell signal occurs when the Red Relative Strength Index line cross down on the moving averages. This signal is more significant if the moving averages are below the Ichimoku Kinko Hyo band.
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Take Profit and Stop Loss Levels
When buying, you may set your take profit at the nearest resistance. However, profit may be booked on a long position at the point when a sell signal occurs.
Stop loss for the buy trade may be placed below the recent low.
For a sell trade, it is okay to take profit at the nearest support. However, profit may be booked on a short position at the point when a buy signal shows up.
Stop loss for the sell trade may be placed above the recent high.
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Referral links;
(Broker: Binary…https://record.binary.com/_WxWzztorkVi6tyDIijdDK2Nd7ZgqdRLk/1/)
(Broker: Alpari … https://alpari.com/en/?partner_id=1244646)
(Broker: Exness …https://www.exness.com/a/t0q1u0q1)
(Broker: FXTM… http://forextime.com/?partner_id=4806145)
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