A scalping based strategy thats works well with EUR/USD 30 minute time frame.
This strategy uses stochasticRSI for trade entry. Uses two exponential moving averages for trend detection. The strategy uses Average True Range for stop loss and for two profit targets.
We only trade with the trend if the 50 period exponential moving averages is above the 200 period exponential moving averages. StocasticRSI must cross below 30 level by default for a long entry if the rend is up. Likewise with a short entry the stochasticRSI must crossover above 70 level and if the trend is down.
This script does not trail your stop loss as I have noticed it does not give me good results. Stop loss is a fix stoploss based on Average True Range and so are the profit targets.
This script has risk management, it risk a certain percent of the inputed capital amount in the setting. See settings for more details.
Green line is 50 period exponential moving averages and red line is the the 200 period exponential moving average. Blue line is stoploss for short trade and black line stop loss for buy trade.
Since this is a scalping strategy be caution with the commission and slippage. I have inputed 1 for commission and 1 for sllipage.
@Lordfluffier - Can you link your youtube channel. I tried searching by "LordFluffier" on youtube but not able to find your channel.
leanup
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Hello I think that RSI & Stocastic script has an error, I have a Capital of 300.000 without leverage nor risk. But in the list of trades, if I divide the net profit by percentage profit it results in more than 8 Millions of Capital. What is it possible?
HonestTrader11
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Great script. Please when are you publishing the automated version of this script on your youtube?
Love your youtube Honest Trader btw I subbed to you.