Forex Alligator Scalping Trading System – The Alligator forex trading strategy is as simple as it can be and can be used by beginners and pro traders alike. Use it for scalping, day trading and swing trading on all currency pairs.
Trading NOTES
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- Use a demo account or a small live account first to practice this trading system
- Time Frame: M5 or higher
- Currency Pairs: GBPUSD, EURUSD, USDJPY, AUDUSD, and USDCAD
MetaTrader Trading Indicators
- FX Alligator
- Mandrake CCI
- Relative Strength Index
BUY Rules
- FX Alligator: Aqua line > Lime line > Red Line > Blue Line
- Mandrake CCI: Blue bars
- Relative Strength Index line: Upward and above the level 60
SELL Rules
- FX Alligator: Aqua line < Lime line < Red Line < Blue Line
- Mandrake CCI: Red bars
- Relative Strength Index line: Downward and below the level 40
Trading NOTES
- Put the initial stop loss above or below the previous candle
- Risk Reward Ratio 1:2 or 1:3
- The best time frame is H4