The Ultimate Gold Scalping 5 Min - Scalping Strategy For Quick and Easy Profits
Summary
TLDRThis video introduces a five-minute gold trading scalping strategy applicable to various platforms like MT4, MT5, and TradingView. It requires two indicators on TradingView: MA Ribbon for buy/sell signals and RSI for trend confirmation. The strategy involves placing orders when EMA 8 crosses EMA 14 and RSI is above 55 for buys or below 45 for sells. Trades should be confirmed with bullish/bearish candlesticks and managed with a 1:1.5 risk-reward ratio.
Takeaways
- 📈 The video discusses a 5-minute gold trading scalping strategy applicable to various trading platforms like MT4, MT5, and TradingView.
- 🏆 The strategy has shown promising results with 19 wins and 6 losses out of 25 trades during trials.
- 🛠️ For MT4 and MT5, three indicators are needed, but only two are required for TradingView, making it free to use.
- 🌐 The strategy is versatile and can be applied to other assets like Forex and cryptocurrencies.
- 📊 The first indicator used is the MA Ribbon, with specific settings for EMA lengths 8 and 14, used for buy/sell signals and trend guidance.
- 🔍 The second indicator is the RSI, set to default with upper and lower bands at 55 and 45, used to confirm the trend direction.
- 📌 A buy signal is given when EMA 8 crosses above EMA 14, and the RSI is above 55, with a bullish candlestick confirmation.
- 📉 A sell signal occurs when EMA 8 crosses below EMA 14, and the RSI is below 45, with a bearish candlestick confirmation.
- 🚫 Avoid trading when the RSI is at a transitional level (between 45 and 55) as it indicates market indecision.
- 💼 Emphasizes the importance of money management and trading psychology, acknowledging no strategy is flawless.
- ⏰ The strategy is specifically designed for 5-minute scalping, focusing on short-term trades.
Q & A
What is the primary focus of the discussed trading strategy in the video?
-The primary focus of the discussed trading strategy is a five-minute gold trading scalping strategy applicable to XAU/USD, which can also be used for other assets like Forex and cryptocurrencies.
What is the performance of the scalping strategy as mentioned in the video?
-The scalping strategy has shown promising results with 19 wins and 6 losses out of 25 trades executed during trials.
Which trading platforms can this strategy be applied to?
-The strategy can be applied to various trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, and other trading applications.
How many indicators are needed for this strategy on MT4 and MT5 platforms?
-Three indicators are needed to use this strategy on MT4 and MT5 platforms.
How many indicators are required when using TradingView?
-Only two indicators are required to use this strategy on the TradingView platform.
What are the two indicators used in the TradingView example in the video?
-The two indicators used in the TradingView example are the MA Ribbon (with EMA settings) and the Relative Strength Index (RSI).
What do the EMA indicators represent in this strategy?
-The EMA indicators serve as guides for placing buy and sell orders and also act as trend guides.
What is the significance of the EMA 8 crossing above EMA 14 in the strategy?
-When EMA 8 crosses above EMA 14, it is a buy signal in the strategy.
How is the RSI used to confirm signals in this strategy?
-The RSI is used to confirm signals by indicating bullish or bearish trends based on the signal line's position relative to the 55 and 45 levels.
What are the steps to place a buy order according to the strategy?
-The steps to place a buy order include: waiting for EMA 8 to cross above EMA 14, ensuring the RSI signal line is above 55, confirming a bullish candlestick, and setting a stop loss at the latest swing low with a target take profit ratio of 1:1.5.
What are the steps to place a sell order according to the strategy?
-The steps to place a sell order include: waiting for EMA 8 to cross below EMA 14, ensuring the RSI signal line is below 45, confirming a bearish candlestick, and setting a stop loss at the latest swing high with a target take profit ratio of 1:1.5.
What is the importance of money management and trading psychology in this strategy?
-Money management and trading psychology are important because no strategy is perfect, and maintaining discipline in trading can help manage risks and emotions.
Outlines
📈 Gold Trading Scalping Strategy Introduction
This paragraph introduces a five-minute gold trading scalping strategy applicable to various trading platforms like MetaTrader 4/5 and TradingView. It's suitable for trading gold and other assets like Forex and cryptocurrencies. The strategy has shown promising results with 19 wins and 6 losses out of 25 trades. For MT4/MT5, three indicators are needed, but only two are required for TradingView, making it free to use. The example focuses on applying this strategy on TradingView by setting up two EMA indicators and adjusting their parameters. The EMA indicators serve as guides for placing buy and sell orders and as trend guides.
📊 Implementing the Scalping Strategy on TradingView
The paragraph details the process of implementing the scalping strategy on TradingView. It explains how to adjust the EMA indicators by deactivating the third and changing the first and second to EMA with lengths of 8 and 14 respectively. The RSI indicator is added to confirm signals, with settings adjusted to remove all marks except for the RSI bands. The RSI is used to confirm the trend, with levels of 55 indicating bullish and 45 bearish trends. The steps for placing buy orders are outlined, including conditions for EMA and RSI signals, confirmation of bullish candlesticks, and setting stop loss and take profit based on a 1:1.5 risk-reward ratio.
📉 Steps for Placing Sell Orders and Strategy Conclusion
This paragraph outlines the steps for placing sell orders using the scalping strategy. It mirrors the process for buy orders but with conditions for bearish signals and RSI levels below 45. The paragraph also reiterates the steps for placing buy orders with a focus on EMA and RSI signals, and the importance of confirming bullish candlesticks. The strategy concludes with a reminder to maintain proper money management and trading psychology, acknowledging that no strategy is flawless. The video ends with a teaser for the next video.
Mindmap
Keywords
💡Scalping
💡XAUUSD
💡MetaTrader 4 (MT4) and MetaTrader 5 (MT5)
💡TradingView
💡EMA (Exponential Moving Average)
💡RSI (Relative Strength Index)
💡Candlestick
💡Buy Signal
💡Sell Signal
💡Stop Loss
💡Risk-Reward Ratio
Highlights
Discussing a five-minute gold trading scalping strategy for XAU/USD
Strategy can be applied across various trading platforms including MT4, MT5, and TradingView
Suitable for trading gold and other assets like Forex and cryptocurrencies
25 trades conducted with the strategy resulted in 19 wins and 6 losses
Requires three indicators on MT4/MT5 and two on TradingView
Can be used for free on TradingView
MA Ribbon indicator settings for EMA with lengths of 8 and 14
EMA 8 crossing above EMA 14 signals a buy, and below signals a sell
RSI indicator used to confirm signals with upper and lower bands set at 55 and 45
RSI signal line above 55 indicates bullish trend, below 45 indicates bearish
Avoid placing orders when RSI is at transitional levels (45-55)
Steps to place a buy order include EMA and RSI conditions, and confirming bullish candlesticks
Steps to place a sell order include EMA and RSI conditions, and confirming bearish candlesticks
Setting stop loss at the latest swing low for buy orders and high for sell orders
Using a risk-reward ratio of 1:1.5 for placing orders
Maintaining money management and trading psychology is crucial
No trading strategy is 100% perfect
Transcripts
in this video we'll be discussing a
five-minute gold trading scalping
strategy or scalping
xauusd this trading strategy can be
applied across various trading platforms
including metatrader 4 or mt4 metatrader
5 or mt5 trading View and other trading
applications besides being suitable for
trading the gold pair this 5 minute
scalping strategy is also applicable to
other assets such as Forex
cryptocurrencies and more so make sure
you don't miss out on this video and
don't forget to support us by liking and
subscribing to this
channel previously we have also utilized
this 5minute scalping strategy on the
gold pair and during the trials we
conducted this scalping strategy has
shown promising results out of 25 trades
executed with this scalping strategy we
achieved 19 wins and six losses here are
the results of the back testing We
[Music]
performed if you implement this trading
strategy on the mt4 and mt5 platforms
you will need three indicators to use it
however if you're using the trading View
application you will only need two
indicators this means you can utilize
this trading strategy for free in this
example we will attempt to use this
trading strategy on the trading View
application
to use it open your trading view
platform then go to the search indicator
Tab and type ma
ribbon next select the default ma ribbon
from Trading view now access the ma
ribbon indicator settings in the input
tab deactivate ma number three in MA
number four then for ma number one
change it to Emma or exponential moving
average and set the length to eight
repeat the same steps for ma number two
changing it to Ema with a length of
14 adjust the colors according to your
preference once done click okay to
confirm the
changes these two exponential moving
averages will serve as guides for
placing buy and sell orders in the
market additionally these EMA indicators
will act as Trend
guides when the EMA 8 crosses above ema1
14 it's a by signal conversely when EMA
8 crosses below ema1 14 it's a cell
signal now let's add the second
indicator that will be used to confirm
the signals go to the search indicator
Tab and type RSI or relative strength
index then select the default RSI from
Trading
view access the RSI indicator settings
in the input tab leave it at the default
settings then go to the the style tab
remove all marks except for RSI RSI
upper band and RSI lower
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band customize the RSI color according
to your
preference next set the number for the
RSI upper band to 55 and the number for
the RSI lower band to 45
once done click okay to confirm the
changes the RSI or relative strength
index indicator will be used to confirm
the signals if the RSI signal line is
above the level of 55 it indicates a
bullish Trend and if the RSI signal line
is below the level of 45 it indicates a
bearish trend meanwhile if the RSI
signal line is between the levels of 45
and 55 it indicates a transitional trend
if the RSI signal line is at a
transitional level refrain from placing
any orders in the market now let's
discuss how to place buy and sell orders
in the market here are the steps to
place a buy order one when EMA 8 crosses
above ema4 it's a byy signal and you
prepare to place a by order two then
when the by signal appears ensure that
the RSI signal line is above the level
of 55 three if the bu signal appears and
the RSI signal line is below the level
of 55 or at a transitional level cancel
the setup for next confirm that the
formed Candlestick is a bullish
Candlestick five if all conditions are
met you can place a by order after the
bullish Candlestick is
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closed six set the stop loss at the
latest swing low seven use a Target take
profit based on a risk reward ratio of 1
to 1.5
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and here are the steps to place a cell
order one when EMA 8 crosses below ema1
14 it's a cell signal and you prepare to
place a cell order two then when the
cell signal appears ensure that the RSI
signal line is below the level of 45
three if the cell signal appears and the
RSI signal line is above the level of 45
or at a transitional level cancel the
setup for next confirm that the formed
Candlestick is a bearish Candlestick
five if all conditions are met you can
place a sell order after the bearish
Candlestick is
closed six set the stop-loss at the
latest swing High 7 use a Target take
profit based on a risk and reward ratio
of 1 to 1.5
[Music]
here are the steps to place a by order
one when EMA 8 crosses above ema1 14
it's a by signal and you prepare to
place a by order 2 then when the B
signal appears ensure that the RSI
signal line is above the level of 50 5
three if the Bice signal appears and the
RSI signal line is below the level of 55
or at a transitional level cancel the
setup four next confirm that the formed
Candlestick is a bullish Candlestick
five if all conditions are met you can
place a byy order after the bullish
Candlestick is
[Music]
closed six set the stop loss at the
latest swing low seven
use a Target take profit based on a risk
and reward ratio of 1 to
[Music]
1.5 always maintain your money
management and trading psychology as no
strategy is 100% perfect that concludes
this video and see you in the next one
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