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I just completed a quick back test of this 5 minute, multi asset strategy, that resulted in 13.2% profit in a single day.
So technically, if we took all those trades today, on friday 07-07-2023 on a live account, it potentially could’ve grew by 13.2% today.
This is a slight variation of a well known scalping strategy, but what I’ve turned it from scalping strategy to a solid 30 pip take profit banger and stop loss at just 15 pips.
This would make it a risk reward ratio of 1:2, which is fantastic.
I’ve also tested it on 10 different assets in the same day, which potentially shows how well the strategy performs on different assets on a typical day.
Here’s the strategy instructions…
To run this strategy, you will need Trading View app online, which you can start on the free plan.
Click here to get your free Trading View account.
1. Open 5 Min chart,
2. Trading View Indicators: –
– Q-Trend – tarasenko_
– Williams Fractals – Style, Change red to green, up arrrow, Change green to red, down arrow
– 10 in 1 Different Moving Averages – Set 3 EMAS to 21, 50, 200, change the colors to your own preference.
– Relative Strength Index – You can change the RSI Line to brigher color
Rules for buy trades
1. For the asset/country, make sure there’s no upcoming news at https://www.dailyfx.com/economic-calendar
2. All 3 emas must be above the price, aligned in parallel, relatively spaced between each other and sloping upwards in the order 21 at the top, then 50, then 200 at the bottom
3. The Q-Trend must print a new Buy or Strong Buy signal and green candlestick must be printed
4. The williams fractal must print a up green triangle within 5 candles before the Q-Trend buy signal
5. The RSI line must be above the 50 level
6. If all conditions are met, open buy trade, set take profit to 30 pips, and stop loss to 15 pips , (Risk/Reward 1:2)
Rules for sell trades
1. For the asset/country, make sure there’s no upcoming news at https://www.dailyfx.com/economic-calendar
2. All 3 emas must be below the price, aligned in parallel, relatively spaced between each other and sloping downwards in the order 21 at the bottom, then 50, then, 200 at the top
3. The Q-Trend must print a new Sell or Strong Sell signal and red candlestick must be printed
4. The williams fractal must print a red down triangle within 5 candles before the Q-Trend sell signal
5. The RSI line must be below the 50 level
6. If all conditions are met, open buy trade, set take profit to 30 pips, and stop loss to 15 pips , (Risk/Reward 1:2)
Here’s a screenshot example of a buy trade…
Here’s a screenshot example of a sell trade…
Here are the back test results, with all trades taken in a single day…
