The Open Scalping Volatility forex indicator Trading System is an excellent trend-following forex scalping strategy. It provides a complete forex intraday scalping trading formula to its users.
It consists of 5 elements:
- Auto Pivot Indicator (critical market levels).
- Non-Lag Dots (momentum indicator working like Parabolic SAR).
- Percentual ZigZag (displays buy/sell arrows).
- Volatility Pivot Level (dynamic support and resistance that moves with price).
- Price Trigger Signal (signals best moment for forex entry point).
This system fits all kinds of timeframes and currency pairs.
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How does it work? How to apply in trading?
Trading Rules Explanation
Enter long trade when the following conditions are met:
- Price closes above both Non-lag Dots and Volatility Pivot levels
- The current Auto Pivot levels support price
- Percentual ZigZag plots an upward arrow below the triggering bar
- Price Trigger Signal value turns positive (above 0 levels)
- Set your stop loss below the current Volatility Pivot level
Enter short trade when the following conditions are met:
- Price closes below both Non-lag Dots and Volatility Pivot levels
- The current Auto Pivot levels resist price
- Percentual ZigZag plots a downward arrow above the triggering bar
- Price Trigger Signal value turns negative (below 0 levels)
- Set your stop loss above the current Volatility Pivot level
Exit Trade / Take Profit
Exit trade when the price reaches the next Auto Pivot level, dots change the position, and the Percentual ZigZag plots the opposite arrow simultaneously. Of course, you can also use your method of trade exit.
As always, to achieve good results, remember about proper money management. To be an excellent profitable trader, you must master discipline, emotions, and psychology. It is crucial to know when and when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility, beyond major sessions, exotic currency pairs, wider spread, etc.
How to set up the Open Scalping Volatility Trading System in MT4?
- Advanced TrendLines.ex4
- Open Scalping Volatility. tpl
Copy and paste indicator files into the MQL4 folder of the MetaTrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Similarly, copy and paste the template file to the Templates folder.
Now, right-click on the chart, and hover over Templates. You will have displayed a list of available systems; left-click the template name you want to run.
The Open Scalping Volatility Trading System is worth adding to your trading collection, but remember to have realistic expectations. Like any other technical analysis tool, it cannot provide accurate signals 100% of the time. Thus, it will give false signals occasionally. In addition, its performance will vary significantly depending on market conditions.