417# Ama Bands Scalping System
Ama Scalping strategy
Submit by Freddyforex 26/02/2014
Ama bands Scalping System is based on two indicators Ama Bands and 5 minute chart.
Time Frame 5 min.
Curency pairs: EUR/USD, GBP/USD.
Metatrader Indicators:
Ama Bands ( 9, 30, 2);
5 minute char.
Rules for Ama Bands Scalping system
General rules
-Identify a current long term trend. (Remember? Trend isyour friend?)
Example – if you trade on a 5M timeframe – go to one time frame higher
(15M timeframe Chart in this case).
On a 5M timeframe The5-MinuteChartIndicator will show yousmaller
intraday trends which are currently inside a broader trend
(in this case 15M timeframe trend).
-
Ignore all signals against a a broader 15M timeframe trend!
Example: 15M Timeframe Trend is up – but you get a “sell” signal
on your 5M timeframe (ignore it!) Wait for a “buy” signal to enter.
This is the most important rule #1, if you follow it you will have no
losing trades at all.
The most important rule #2: do not trade and do not use the
indicators on a side trend. This is “MUST follow” rule#2.
Stay away from using the signals and open trades on unclear trends.
Long entry
5 minute chart line subwindow indicator is blue on the 5 min chart and 15 min chart.
Ama bands blue arrow only on the 5 min chart.
Short entry
5 minute chart line subwindow indicator is red on the 5 min chart and 15 min chart.
Ama bands red arrow only on the 5 min chart.
Exit position when the 5 min chart indicator change direction or on the pivots points levels.
Intial stop loss on the previous swing
In the picture Ama Bands scalping system in action.
