Double CCI and RSIOMA Forex Scalping Strategy
I’m going to show you the old but effective Double CCI and RSIOMA Forex Scalping Strategy, which is simple and will allow you to make high profits.
It is the system of a trader who managed to make $20k in his $200 small Forex account with this strategy in the past.
Isn’t it fascinating to grow small forex accounts? You have little money, discipline and a simple strategy to be able to do this in 5-6 digits is one of the great blessings in this world.
Well, without wasting much time, I’m starting to show the strategy.
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This strategy works best in these 3 pairs and 2 timeframes.
PAIRS : AUDUSD , EURUSD , GBPUSD
TIMEFRAMES : 1M and 5M (M : minute)
Does it work with other pairs too? Frankly, I don’t know. The person who developed the strategy used it only in these 3 pairs and these 2 timeframes.
You should open your trades with a reliable forex broker with very low spread and commission. Because it gives dozens of different entry opportunities throughout the day. I recommend you a broker immediately so that you can trade at such a high frequency.
Copy and paste the indicators and templates into the relevant folders as you can see below.
And then restart your metatrader4.
Choose your Doublecci and rsioma template.
BUY/LONG ENTRY RULES
The rules for entering Long/BUY entries are as follows;
2MA Crossover indicator will print “blue arrow”
DoubleCCIWoody indicator should have green volume clusters
The RSIOMA indicator should also be greater than 65.
If DoubleCCIWoody is making green volume clusters, you should ignore the pink 2MA crossover signals (down arrows).
This is a great BUY entry.
Let’s look at another BUY entry.
As you can see in this example, the 2MA Crossover gave an early blue arrow. This is a BUY signal. However, we should expect our other indicators to comply with the entry rules.
RSIOMA is passing 65.
DoubleCCIWoody is returning to green volume clusters. And in this case, our Long entry is ready!
We enter our scalp entry with zero drawdown.
Let’s take a look at an example of a WRONG BUY entry
Patience is one of the most important things in the Forex market. Sometimes you watch the market all day, but there may not be an opportunity to enter your strategy. This entry I show is completely against our rules.
You have to follow 3 simple rules. This is everything.
While DoubleCCIWoody is making red volume cluster, you cannot enter BUY entry as only the 2MA crossover makes blue arrows.
SELL/SHORT ENTRY RULES
Now let’s look at a few examples of SELL/SHORT entries.
The rules for entering Short/SELL entries are as follows;
2MA Crossover indicator will print “pink arrow”
DoubleCCIWoody indicator should have red volume clusters
RSIOMA indicator must be less than 35
DoubleCCIWoody : RED
2MA crossover : PINK
RSIOMA : lower than 35
This example is a SELL from EURUSD M5. You have the chance to get +35 pips in a very short time without drawdown.
If you trade with 1 lot, this is +$350 profit
If you trade with 10 lots, this means: +$3500 profit.
Did you know that 90% successful funded traders actually make money using such simple strategies?
Yes, it’s actually that simple. We are the ones who complicate Forex.
Making something complex means not being able to see it clearly. Having difficulty seeing your entries, analyzing them under pressure and getting good results; From a complex point of view it is almost impossible.
Let’s look at another SELL entry
There is an early 2MA crossover pink SELL signal.
Subsequently, DoubleCCIWoody started to print red volume clusters.
However, we should not forget our rules and expect the RSIOMA to be less than 35. And yet another great scalp SELL entry.
If we have to say something about TP and SL;
I generally recommend using this strategy on the M5. In my own backtests, it gives entries on the M1 that can sometimes be very annoying.
You can see that there are Fibonacci levels on the right side of the template.
I am frankly not a Fiblevel fan trader. However, if you want, you can also use these Fiblevels to exit the entry you entered.
I will recommend you TP: 15-25 pips profit
If SL : maximum 15 pips.
If you are looking for a trade entry suitable for risk reward; You should prefer high volume trading hours such as London session or New York session. In this case, you can catch very nice entries with risk:reward such as 1:2, 1:3 as the pips amplitudes in the market will be extended and the volume will increase.
However ; never and definitely do not trade in times of high impact news!
With this strategy, you can easily pass your funded trader challenges. It is a beautiful strategy that is far from complexity and obscurity.