The forward trend scalp trigger. For this trigger you should select a 5, 10 or 15 minute chart, with a 10 period moving average. Trades should only be taken in the direction of this 10 peiod moving average. The following is how the trade sets up:
1. Find a bar that completes with at least 10 to 15 ticks from between its open and close price. If the candle is green the 10 period moving average should be moving positive – and visa versa.
2. Set limit order 1/2 of the high and low close of this bar. Set the stop at 3 ticks lower/higher of the high/low of this bar. Profit targets can be set to .75 to 1.5 times the size of the bar you are looking for in step 1.
3. If the limit order in step two does not hit in a bar period then abondon the trade. If after 3 bars the profit target is not hit close the trade.
This normally is about a 60% trade so set your stop/loss and win/loss ratio accordingly. Give this a try and let me know how it works for you. In the thumbnail is an overview example of the trade.
