Learn a simple and profitable scalping strategy using the whole moving average indicator, Hull Suite, and QQE Mod. This video offers trading tools and examples of buy and sell setups. The key to successful trading is to master one strategy rather than switching between multiple ones.
A Simple and Profitable Scalping Strategy for Traders
Introduction
Trading is a great way to achieve financial freedom, but it requires a concrete strategy. In this video, we will discuss a trading view simple and profitable scalping strategy that traders can use in almost all markets. This approach uses a popular indicator, the whole moving average, and can help you achieve consistent profitability.
Overview of the Whole Moving Average Indicator
The whole moving average indicator is one of the most famous indicators in all financial markets. It is a hybrid indicator that can be used as a momentum and trend indicator. Many traders use it because it has been utilized in various ways.
Implementing the Strategy
To implement this strategy, we need to follow a few steps:
Step 1: Adding the Follow Line Indicator
We need to head to the indicators box and the search field type “follow line” indicator and choose the first indicator. Next, we need to change some settings by hiding the shapes and shades. Then, we have to replace bb period 21 with 6.
Step 2: Adding the QQE Mod Indicator
We need to apply another indicator on the chart by searching for “QQE Mod” in the search box of trading view. After that, we have to click on the qqe mod option.
Step 3: Adding the Hull Suite Indicator
We will add another indicator on the chart by searching for “Hull Suite” in the search box of trading view. After that, we have to click on the hull suite option and change some settings. We have to replace length 55 with 60 and length multiplier one in place of three.
Understanding the Trading Tools
There are three trading tools we need to understand and use:
1. Hull Indicator: The line of red and yellow color above which is visible.
2. Follow Indicator: The line of red and blue color in the middle which is visible.
3. QQE Mod Histogram: The indicator which is bottom.
The Strategy: Buy and Sell Positions
For the buy position: The hull indicator line should be yellow color, the follow line should be blue color, and the qqe mod histogram should be blue color. When the market forms a bullish candle, if this condition is fulfilled, then we will place a buy order. Our stop loss will remain at the follow line indicator, and the risk to reward ratio will be 1.5.
For the sell position: The hull indicator line should be red color, the follow line should be red color, and the qqe mod histogram should be red color. When the market forms a bearish candle, if this condition is fulfilled, then we will place a sell order. Our stop loss will remain at the follow line indicator, and the risk to reward ratio will be 1.5.
Trade Examples
To better understand this strategy, let’s look at some trade examples:
Trade 1: We have a bearish candle, and all our conditions are being fulfilled. We place our sell order with a stop loss at the follow line indicator and a risk to reward ratio of 1.5. Our trade is running in profit, and we have won the trade.
Trade 2: We have a bullish candle, and all our conditions are being fulfilled. We place our buy order with a stop loss at the follow line indicator and a risk to reward ratio of 1.5. Our trade has completely hit the target.
Trade 3: We have a bearish candle, and all our conditions are being fulfilled. We place our sell order with a stop loss at the follow line indicator and a risk to reward ratio of 1.5. Our trade is running in profit, and we have won the trade.
Conclusion
Many new traders jump from one strategy to another, searching for the perfect one that guarantees massive profits with no losses. However, the truth is there is no such strategy. The best way to become consistently profitable is to master one strategy and trade one single set up a thousand times. This simple and profitable scalping strategy using the whole moving average indicator can help you achieve this goal. Just remember not to trade against the trend, and always use a stop loss. Happy trading!