Ultimate Pro Scalper with CCI is a Forex Scalping System that is free to download. This scalping strategy is based on the Ultimate Pro Scalper indicator and the Equinox Commodity Channel Index (CCI) as a filter. The system is further enhanced by Pivot Point Levels that serve as profit targets. The fundamental goal of this system is to filter out the false signals produced by the Ultimate Pro Scalper, thereby refining the quality of trading signals and ultimately improving trading performance.
Indicators Used in this Forex Scalping System
The Ultimate Pro Forex Scalping System combines three key elements: the Ultimate Pro Scalper indicator, the Equinox CCI, and the TzPivotD. These tools collectively create a reliable and efficient trading environment, streamlining the decision-making process for traders. Understanding these components is critical to effectively utilizing the scalping system and enhancing your forex trading success.
Ultimate Pro Scalper
The Ultimate Pro Scalper is an indicator designed for efficient scalping during trending markets. It displays red and green diamonds as trade signals and includes an info box at the top right corner that gauges the current trend’s strength. The Ultimate Pro Scalper’s strength lies in its ability to deliver the best results when trading in an active trend. However, it can generate false signals, which is where the Equinox CCI comes into play.
The Equinox CCI is a modified Commodity Channel Index indicator developed by Russ Horn for the Equinox system. Set at a period of 50 (close), the Equinox CCI is designed to read the medium-term trend efficiently. This indicator is color-coded to simplify the identification of trend changes. It acts as a filter for the Ultimate Pro Scalper, enabling traders to discard false signals and focus on the valid ones that agree with the CCI direction.
The TzPivotD is an enhanced pivot point indicator, boasting over a dozen input parameters for customization. Pivot Points Levels are used as profit targets within the Ultimate Pro Forex Scalping System, adding an extra dimension of strategy and potential returns. These levels often represent critical support and resistance areas, allowing traders to anticipate possible price movements and adjust their strategies accordingly.
This Ultimate Pro Scalper can give you trading signals you can take as they are or add your additional chart analysis to filter the signals further, which is recommended. While traders of all experience levels can use this system, practicing trading on an MT4 demo account can be beneficial until you become consistent and confident enough to go live.
This Scalping System is entirely manual. The indicators produce the signals, but any decisions to enter the market and set protection or profitable exit stops will depend on the trader. Therefore, the trader must be familiar with the principles of risk and reward and use initial support and resistance areas to set entries and exits.
This Indicator is straightforward. Even a complete beginner can start trading and making profits with this system. You can set it to send you a signal alert via platform pop-ups and Email. This is helpful as it means you do not need to stare at the charts all day, waiting for signals to appear, and you can monitor multiple charts simultaneously.
Forex Scalping System can be used on any Forex currency pair and other assets such as stocks, commodities, cryptos, precious metals, oil, gas, etc. You can also use it on any time frame that suits you best, But it works best on M5, M15, and M30.
Trading Rules Ultimate Pro Scalper
As always, to achieve good results, remember about proper money management. To be a profitable trader, you must master discipline, emotions, and psychology. It is crucial to know when and when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility, beyond major sessions, exotic currency pairs, wider spread, etc.
- Entry Condition: Wait for the Ultimate Pro Scalper indicator to display a Green signal dot that aligns somewhat below the candlesticks. This indicates a potential uptrend in the market, signaling an excellent opportunity to buy. Concurrently, the Equinox CCI should be above the zero line, reinforcing the bullish signal.
- Exit Condition: The trade should be closed when the Ultimate Pro Scalper indicator triggers a Red signal dot. Ideally, this should happen at the level of a pivot point as indicated by the TzPivotD, suggesting the potential end of the uptrend.
- Stop Loss Rule: For managing risk, place the initial stop loss on the previous swing low. This ensures that losses are minimized if the market moves against the trade.
- Entry Condition: A selling opportunity arises when the Ultimate Pro Scalper indicator displays a red signal dot that aligns somewhat above the candlesticks, indicating a possible downtrend. The Equinox CCI should be below the zero line, confirming the bearish trend.
- Exit Condition: Close the trade when the Ultimate Pro Scalper indicator shows a blue signal dot, preferably at the level of a pivot point. This suggests that the downtrend might be nearing its end.
- Stop Loss Rule: Regarding risk management, place the initial stop loss on the previous swing high. This strategy ensures the trade is closed before potential losses accumulate should the market trend unexpectedly upwards.
The Ultimate Pro Forex Scalping System combines the strengths of the Ultimate Pro Scalper, Equinox CCI, and TzPivotD to offer a robust, reliable, and efficient scalping solution. It allows traders to maximize profits while minimizing potential losses from false signals. However, as with all trading systems, a clear understanding of how each component works and prudent risk management and discipline are crucial to achieving success.