2 Bar Reversal Scalp

Have merely posted this shopping for and promoting system idea inside the coding dialogue board nevertheless thought it moreover worthwhile to start out out a model new thread to see if there’s any curiosity in it. It’s a simple, well-known reversal with my very personal money administration tips and TP, SL ranges. For now I wish to solely persist with these tips and speak about these tips. (I’ve examined completely different TP and SL ideas nevertheless they are going to anticipate an extra time).

I’ve solely checked out GJ for this. 15 minute timeframe.

It’s a 2bar reversal scalp idea. Now we have to find out Bar 1 and Bar 2. For a purchase order, B1 must be a bearish bar. B2, the very subsequent bar, must be a bullish bar AND ought to have the underside low out of the ultimate 5 bars. Moreover, its extreme MUST be lower than B1’s (ie, not an out of doors bar). A purchase order entry would then be positioned on the extreme of B1. If it hasn’t triggered by the shut of the third consecutive bar after B2 then the order is cancelled. Menace 2%. Stop positioned on the shut of B1. Reverse above for shorts (ie B1 is a bullish bar, entry is positioned on the low of B1 and we take the excellence between B1 low and B1 shut for our hazard in pips price)

Menace in pips is distinction between B1 low and B1 shut. TP is because of this reality set at 1:1 now for a 2% obtain or loss.

You presumably can see in each occasion beneath that Bar 2 makes eaither the perfect extreme or lowest low out of the ultimate 5 bars and is a reversal to B1 AND doesn’t transcend B1. Of the examples the place a commerce was triggered, they did so inside 3 bars of Bar 2.

This method may have losses nevertheless I’m anticipating there’ll in all probability be additional winners…

Many thanks upfront if that’s potential to code I’ve not traded this reside, it’s merely an idea for now. If it was proved previous doubt that having a tough and quick TP of 5pips for a 2% obtain regardless of the stop dimension was additional worthwhile in the long run than the safer 2% 1:1, then I might swap to that.