Working on a scalping model which can be used for forex and possibly binary
Basic idea is to filter the signals with zero lag slow as the trend filter either direction and use ENTRY indicator for entry
FOR FOREX:
Entry trade rules
1. Zero lag slow trend is green/red
2. ENTRY indicator signals buy/sell, price should be above/below trend line
3. Use nonlag histo for extra confirmation(especially binary)
Exit trade rules. This can be subjective but this is what i use
1. Set trade to exit either 3:1 p/l ratio. SL at high/low of entry candle , or
2. Exit at opposite direction ENTRY signal
Both work well under consideration of price action. Risking no more than 1-2% total equity per trade. Only take the first signal entry with the trend
FOR BINARY:
Entry rules remain the same
Exit can be set for 3-5 bar expiry. MG 1step if needed
I have been using this for manual trading, working on a cohesive combined model using chat-gpt/mql4progammer but my coding journey has just begun so will take time. Any input and thoughts welcome
Credit and many thanks to Mr.Tools for his help with the 'zero lag slow' issues.. If only AI was this helpful