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15 Pips Free Forex Scalping System

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A really correct free forex scalping system that may be used on the five minute and fifteen minute charts. It’s created of two trading indicators, one for short-run trend direction and one for trade entry signals and easy stop-loss placement.

Chart Setup

Indicators: ArrowsAndCurves, BarTimer (shows time left to next bar), freescalpingindicator
Preferred time frame(s): 5 min, 15 min
Trading sessions: London, New York
Preferred Currency pairs: low spread major fx pairs (EUR/USD, USD/JPY, GBP/USD, AUD/USD)

Download

Download the 15 Pips Free Forex Scalping System.

Example: EUR/USD 15 Minute Chart

free-forex-scalping-system

As shown in the EUR/USD chart above, this system identified 6 trading opportunities. 2 Long signals and 4 short signals. 5 Trading positions were closed for 15 pips each and 1 short trade was closed for a 18 pips loss. Result: 57 pips gain.

Trading Rules

Buy Scenario:

  • Free forex scalping indicator draws green histogram (short-term bullish)
  • Blue up arrow (trade entry)

==> Go long at the open of the next candlestick and set profit target to 15 pips.

Stop-Loss: Place a stop-loss just below the lower green ArrowsAndCurves line.

Sell Scenario:

  • Free forex scalping indicator draws red histogram (short-term bearish)
  • Red down arrow (trade entry)

==> Go short at the open of the next candlestick and set profit target to 15 pips.

Stop-Loss: Place a stop-loss just above the upper green ArrowsAndCurves line.

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