Indicators for this Bollinger Bands for Main Window (Top Window that
has candles). Using the Bollinger Bands is crucial from bouncing from
the upper band and lower band.
Remember is there is uptrend above the middle band (The middle band
is 20 day Moving Average on Default settings on MT4 mobile app) then
you change to the 5min and 15 min chart time frames to see the new
uptrend. Vice Versa with downtrend when candle create the downtrend
below the Middle Band you keep the sell positions.
Second Indicator is Stochastic Oscillator for Bottom Window
Using the 80/20 rule with Stochastic Oscillator which is above 80 reading
means it’s overbought and Below 20 means oversold. Using the
Stochastic Oscillator give your more precise reading since it faster and
more responsive than RSI. No matter what it has hit 80 and 20 on
smaller time frames. On the higher times it can very tricky on
overbought and oversold because it reaches 100 and go to down to 0.
Advanced scalping methods can be used without these indicators as well.
You can set horizontal lines on high price and low price on the 1min and
5min and 15min time frames charts and bounce off high price resistance
and low-price support. If breaks resistance or support whichever comes
first you can move to the next resistance and support level.
Setting up this method on 2 horizontal lines based on your initial price
action to bounce off if you don’t plan on using Bollinger Band