This is a simple scalping strategy that works for all time frames... I have only tested it on FOREX
It works by checking if the price is currently in an uptrend and if it crosses the 20 EMA .
If it crosses the 20 EMA and its in and uptrend it will post a BUY SIGNAL. If it crosses the 20 EMA and its in and down it will post a SELL SIGNAL.
The red line is the highest close of the previous 8 bars --- This is resistance The green line is the lowest close of the previous 8 bars -- This is support
Hello, that is a nice strategy. But may I ask why it gives a BUY signal while the Supertrend is bearish? Actually it should gives the signal in the direction of the Supertrend,right?