Free forex scalping strategies

Scalping involves making profits from small changes in currency prices in a short time frame. An established scalper implements rigorous strategies to create profits and lower losses.

A few free strategies that a scalper can use are:

1. Squeeze Arrows Strategy

Squeeze Arrows is one of the free Forex scalping strategies that uses the buysellarrowscalper and Bollinger_Squeeze_v3 indicators.

Traders can go long when,

  • A downward pointing dotted line and an upward pointing blue arrow of buysellarrowscalper indicator gets aligned under the price bars.

  • And  histograms of Bollinger_Squeeze_v3 indicator aligns above the 0.00 level.

Traders need to place 2 pips under short-term support as stop-loss.

Exit/take profit strategy is when a downward pointing red arrow of the buysellarrowscalper indicator is displayed above the candles and when a red histogram emerges below the 0.00 levels.

Traders can go short when,

  • Buysellarrowscalper indicator displays a downward pointing red arrow and an upward pointing dotted line.

  • Histograms of Bollinger_Squeeze_v3 indicator aligns under the 0.00 level.

Traders need to place 2 pips under the short-term resistance as Stop-loss order.

Exit/take profit strategy is when Buysellarrowscalper indicator displays an upward pointing blue arrow under the candles and when a green histogram rises above the 0.00 level.

2. Bands Forex Strategy

Bands Forex is free Forex scalping strategy uses the BBands_Stop_BO and BbSq-OsMA indicator.

Traders can go long when,

  • Dotted green lines of BBands_Stop_BO indicator aligns under the price bars.

  • Histograms and the black line of BbSq-OsMA indicator get aligned above the 0.00 level.

Traders need to place a Stop-loss order below the dotted line

Exit/take profit strategy is when BBands_Stop_BO indicator displays an orange dotted line over the candlesticks and when a black line of BbSq-OsMA indicator ceases under the 0.00 level.

Traders can go short when

  • Orange dotted line of BBands_Stop_BO indicator aligns above the price bars.

  • histograms and the black line of BbSq-OsMA indicator aligns under the 0.00 level

Traders need to place Stop-loss order above the dotted orange line

Exit/Take profit strategy is when BBands_Stop_BO indicator displays a dotted green line under the candles and when a black line of BbSq-OsMA indicator ceases above the 0.00 level.

3. Correlation Cycle Strategy

One of the free forex scalping strategies is the Correlation Cycle Forex scalping strategy. It uses the Correlation-mt4-indicator and the ASCTrendCycle indicator.

Traders can go long when

  • ASCTrendCycle indicator displays a purple line stays over the 50.00 level.

  • An upward pointing green arrow and an upward pointing blue arrow is displayed on the activity chart and in Correlation-mt4-indicator window.

Traders need to place Stop-loss order below short-term support

Exit/take profit strategy is when a purple line of the ASCTrendCycle indicator goes below the 50.00 level and when a downward pointing red arrow and a downward pointing yellow arrow is displayed on the activity chart and in the Correlation-mt4-indicator window.

Traders can go short when

  • Purple line of ASCTrendCycle indicator displays below the 50.00 level

  • A downward pointing red arrow and a downward pointing yellow arrow is displayed on the price chart and in Correlation-mt4-indicator window.

Stop-Loss order is needed to be placed over short-term resistance.

Exit/take profit strategy is when a purple line of the ASCTrendCycle indicator displays above the 50.00 level, and when an upward pointing green arrow and an upward pointing blue arrow is displayed on the activity chart and in Correlation-mt4-indicator window.

These free Forex scalping strategies can help a beginner with all the requirements for becoming a scalper. It can also create benefits for veteran scalpers as well.

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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