FX Prime is a simple scalping strategy that is recommended for trading the GBP / USD currency pair on 1 minute and 5 minute charts.
The essence of the strategy:
1. Open the chart of the currency pair in 2 windows M1 and M5.
2. Plot the following indicators on the M1 chart:
• CCI indicator with a set period of 34
• Another CCI – set a period of 170
• RCI indicator with a period of 8
3. Plot two indicators on the M5 chart
• CCI indicators with periods of 34 and 170
4. Signal for long positions:
• CCI indicator (34) above zero on all timeframes
• CCI indicator (170) above zero on all timeframes
• RSI indicator is more than 65
5. Signal for short positions:
• CCI indicator (34) below zero on all two timeframes
• CCI indicator (170) is below zero on all two timeframes
• RSI indicator less than 35
6. Stop loss is set to no more than 20 points.
