581# 5 minute trendline scalping

Submit by Lorenz 06/2017

5 minute trendline scalping is a simple trend line breakout method with Metatrader 4 Indicators. In other words this also an high/low scalping breakout.

Time frame 5 min or higher.

Currency pairs: GBP/JPY, GBP/USD, USD/JPY, EUR/USD.

Low spreads.

Sessions: London and New York.

This method is also good for trading with Binary options high/low:

expiry time 2-3 candles or 2-3 min with time frame 5 min.

5 minute trend line scalping is also good with renko chart

Metatrader Indicators:

Coral 15 period;

AMA 11 period, , n slow 34;

Gann Zig Zag with range 1 period;

MT 4 Trend line

5 minute trend line scalping trading rules

Buy

Trend line up trend (angle up)

Coral aqua color.

AMA indicator green dot.

Place a pending order 1 pip above the last high.

Sell

Trend line down trend (angle down)

Coral magenta color.

AMA indicator red dot.

Place a pending order 1 pip below the last low.

Place initial stop above/below the dot of ama indicator.

Fast profit target (5-10 pips) depends by currency pairs.

This is a discretionary strategy and requires experience in order management.

The key to this scalping strategy is to know trades with a good angle of the trend line.

This trading technique can give satisfaction is winning.

The estimated time to learn this technique on demo account is about 4-6 weeks.

It is advisable to start practicing with higher time frames.

In the pictures 5 minute trendline scalping in action.

Share your opinion, can help everyone to understand the forex strategy.