Hey fellow traders! Let’s dive into the exciting world of 5-minute envelopes scalping using MetaTrader 4. This strategy can really give your trading a boost!
So here’s the deal: when the price is sitting above the upper envelope and the signal direction is pointing down, it’s time to consider a sell. To confirm, check if the previous high price is greater than the upper envelope and if the current bid is bigger than the distance filter. If everything lines up, your expert advisor will trigger a SELL trade.
On the flip side, if the price dips below the lower envelope and the signal direction is up, we’re looking at a buy opportunity. Make sure the previous low price is less than the lower envelope and that the current bid exceeds the distance filter. If that’s the case, your expert advisor will open a BUY trade.
Important: Always backtest your strategy first! Find the best settings for your favorite currency pair and make sure to test it out on a demo account before going live.
Happy trading!
Check out this backtest result here!
연관 포스트
- Unlocking the Smart Forex System: A Complete Guide for MetaTrader 4 Traders
- Mastering MetaTrader 4: Your Go-To Guide for a Trailing Stop Expert Advisor
- Unlocking the Potential of Envelopes: A Game-Changer for MetaTrader 4
- Mastering Averaging by Signal: Your Go-To EA for MetaTrader 4
- Streamline Your Trading with a Fixed Interval Close Order EA for MetaTrader 4