Simple and Profitable Scalping Strategy (ForexSignals TV) by kevinmck100
By kevinmck100
Performance Metrics
- Author: kevinmck100
- Symbol: BYBIT:ETHUSDT
- Timeframe: 15 minutes
- Net P&L: +408.22 USDT (+40.82%)
- Win Rate: 40.6%
- Profit Factor: 1.528
- Max Drawdown: 154.56 USDT (11.23%)
- Total Trades: 101
- Sharpe Ratio: 1.101
Description
Sep 14, 2022Strategy 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 ratioTrade entry:Based on stratgey conditions outlined belowTrade exit:Based on stratgey conditions outlined belowBacktesting:Configurable backtesting range by dateTrade drawings:Each entry condition indicator can be turned on and offTP/SL boxes drawn for all trades. Can be turned on and offTrade exit information labels. Can be turned on and offNOTE: Trade drawings will only be applicable when using overlay strategiesDebugging:Includes section with useful debugging techniquesStrategy conditionsTrade entry:LONGC1: On higher timeframe trend EMAs, Fast EMA must be above Slow EMAC2: On higher timeframe trend EMAs, price must be above Fast EMAC3: On current timeframe entry EMAs, Fast EMA must be above Medium EMA and Medium EMA must be above Slow EMAC4: 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 linesC6: 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)SHORTC1: On higher timeframe trend EMAs, Fast EMA must be below Slow EMAC2: On higher timeframe trend EMAs, price must be below Fast EMAC3: On current timeframe entry EMAs, Fast EMA must be below Medium EMA and Medium EMA must be below Slow EMAC4: 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 linesC6: 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 toleranceEntry 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 ratioCredits"SIMPLE and PROFITABLE Forex Scalping Strategy" taken from YouTube channel ForexSignals TVSep 14, 2022Release NotesFix incorrect inline value in settings