Introduction to the Open Scalping Volatility Trading System
The Open Scalping Volatility Trading System is a great trend-following forex strategy. It provides a complete forex intraday scalping trading formula to its users.
It consists of 5 elements: Auto Pivot Indicator (important 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.
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
- Price is supported by the current Auto Pivot levels
- Percentual ZigZag plots an upward arrow below the triggering bar
- Price Trigger Signal value turns positive (above 0 level)
- 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
- Price is resisted by the current Auto Pivot levels
- Percentual ZigZag plots an downward arrow above the triggering bar
- Price Trigger Signal value turns negative (below 0 level)
- 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 at the same time. You can also use your own method of trade exit.
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, 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, hover over Templates. You will have displayed a list of available systems, left-click template name you want to run.
The Open Scalping Volatility Trading System is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions.
Open Scalping Volatility Trading System Free Download
To download the Open Scalping Volatility Trading System for Metatrader 4 (MT4) for free just click the button below: