OPEN-SOURCE SCRIPT

Simple and Profitable Scalping Strategy (ForexSignals TV)

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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
Note di rilascio
Fix incorrect inline value in settings
backtestbacktestingExponential Moving Average (EMA)pullbackriskmangementriskrewardstragegytrendtrendtrading

Script open-source

In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

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