Simple and Profitable Scalping Strategy (ForexSignals TV)

14 Sep 2022

Strategy is based on the "SIMPLE and PROFITABLE Forex Scalping Strategy" taken from YouTube channel ForexSignals TV.
See video for a detailed explaination of the whole strategy.

I'm not entirely happy with the performance of this strategy yet however I do believe it has potential as the concept makes a lot of sense.
I'm open to any ideas people have on how it could be improved.

Strategy incorporates the following features:

Risk management:

• Configurable X% loss per stop (default to 1%)
  
• Configurable R:R ratio
  

Trade entry:

• Based on stratgey conditions outlined below
  

Trade exit:

• Based on stratgey conditions outlined below
  

Backtesting:

• Configurable backtesting range by date
  

Trade drawings:

• Each entry condition indicator can be turned on and off
  
• TP/SL boxes drawn for all trades. Can be turned on and off
  
• Trade exit information labels. Can be turned on and off
  
• NOTE: Trade drawings will only be applicable when using overlay strategies
  

Debugging:

• Includes section with useful debugging techniques
  

Strategy conditions

Trade entry:
LONG

• C1: On higher timeframe trend EMAs, Fast EMA must be above Slow EMA
  
• C2: On higher timeframe trend EMAs, price must be above Fast EMA
  
• C3: On current timeframe entry EMAs, Fast EMA must be above Medium EMA and Medium EMA must be above Slow EMA
  
• C4: On current timeframe entry EMAs, all 3 EMA lines must have fanned out in upward direction for previous X candles (configurable)
  
• C5: On current timeframe entry EMAs, previous candle must have closed above and not touched any EMA lines
  
• C6: On current timeframe entry EMAs, current candle must have pulled back to touch the EMA line(s)
  
• C7: Price must break through the high of the last X candles (plus price buffer) to trigger entry (stop order entry)
  

SHORT

• C1: On higher timeframe trend EMAs, Fast EMA must be below Slow EMA
  
• C2: On higher timeframe trend EMAs, price must be below Fast EMA
  
• C3: On current timeframe entry EMAs, Fast EMA must be below Medium EMA and Medium EMA must be below Slow EMA
  
• C4: On current timeframe entry EMAs, all 3 EMA lines must have fanned out in downward direction for previous X candles (configurable)
  
• C5: On current timeframe entry EMAs, previous candle must have closed above and not touched any EMA lines
  
• C6: On current timeframe entry EMAs, current candle must have pulled back to touch the EMA line(s)
  
• C7: Price must break through the low of the last X candles (plus price buffer) to trigger entry (stop order entry)
  

Trade entry:

• Calculated position size based on risk tolerance
  
• Entry price is a stop order set just above (buffer configurable) the recent swing high/low (long/short)
  

Trade exit:

• Stop Loss is set just below (buffer configurable) trigger candle's low/high (long/short)
  
• Take Profit calculated from Stop Loss using R:R ratio
  

Credits

"SIMPLE and PROFITABLE Forex Scalping Strategy" taken from YouTube channel ForexSignals TV

14 Sep 2022

Nota Keluaran

Fix incorrect inline value in settings