The Dewa Scalper Forex System is a trading strategy that uses a combination of 10 indicators to identify potential trading opportunities in the market. While it may not be suitable for all traders, it can be a useful tool in the right hands. In this article, we will examine how the Dewa Scalper works and how it can be used to make informed trading decisions.
What is the Dewa Scalper?
The Dewa Scalper is a trading system that utilizes a collection of indicators, including FS30_Extreme2.3, Signal_Bars, Daily_Open, Donchian Bands, FerruFx_Multi_info THV, Heiken Ashi Smoothed_v2, IINWMARROWS, SS2009_B, xMeter.riki.v1, and xMeterMTF2. These indicators work together to help traders analyze the market and identify potential entry and exit points for trades. By considering these indicators, traders can better determine the direction of the trend and adjust their risk management strategy accordingly. It’s important to note that risk tolerance and individual trading goals should be taken into account when using this system.
Dewa Scalper Strategy
The Dewa Scalper strategy is designed to identify potential entry and exit points for trades using a combination of several indicators. For a buy signal, traders should wait for the SS2009 histogram to be above the 0 centerline, indicating blue bars. Additionally, price should be at the lower Donchian band and the Heinken Ashi indicator should paint blue bars on the chart. Finally, traders should wait for the IInwmarrows to paint sky-blue buy arrows before opening a long position. A stop loss should be set a few pips below the entry candle, and trades should be closed when the Heinken Ashi indicator paints the first red bar on the chart.
For a sell signal, traders should wait for the SS2009 histogram to be below the 0 centerline, indicating red bars. Price should be at the upper Donchian band and the Heinken Ashi indicator should paint red bars on the chart. Finally, traders should wait for the IInwmarrows to paint red sell arrows before opening a short position. A stop loss should be set a few pips above the entry candle, and trades should be closed when the Heinken Ashi indicator paints the first blue bar on the chart. It’s important to adjust the parameters and assess your own risk tolerance when using this strategy.
Buy Signal
- Wait for the ss2009 histogram to be above the 0 centerline, therefore showing blue bars
- Ensure that price is at the lower Donchian band and the Heinken Ashi indicator paints blue bars on the chart.
- Wait for the IInwmarrows to paint sky-blue buy arrows
- Traders may open a long position when the above requirements are met
- Set a stop loss for your position a few pips below the entry candle or according to your money management strategy.
- When the Heinken Ashi indicator paints the first red bar on the chart, traders may close their trades.
Sell Signal
- Wait for the ss2009 histogram to be below the 0 centerline, therefore showing red bars
- Ensure that price is at the upper Donchian band and the Heinken Ashi indicator paints red bars on the chart.
- Wait for the IInwmarrows to paint red sell arrows
- Traders may open a short position when the above requirements are met
- Set a stop loss for your position a few pips above the entry candle or according to your money management strategy.
- When the Heinken Ashi indicator paints the first blue bar on the chart, traders may close their trades.
Dewa Scalper Pros & Cons
Pros
- The system is relatively easy to understand and use, making it suitable for both novice and experienced traders.
- By providing clear entry and exit signals, the system can help traders manage their risk and make informed trading decisions.
- The system can be customized to suit the trader’s preferences and risk tolerance.
Cons
- The system relies heavily on technical indicators, which can be subject to false signals and may not always accurately reflect market conditions.
- The system may not be suitable for all trading styles, as it is designed for scalping and may not be ideal for traders looking to hold positions over a longer period.
- The system may require constant monitoring, as the indicators used may change frequently and require adjustment to remain effective.
- The system may not perform well in volatile market conditions, which can lead to significant losses if proper risk management techniques are not applied.
Conclusion
The Dewa Scalper Trading System is a combination of several indicators that work together to produce trade opportunities on the chart. It is a simple yet effective trading strategy that can be used to identify trading opportunities in the market. Traders should wait for the appropriate signals to appear before entering a trade and should always use stop-loss orders to limit potential losses. As with any trading system, it’s important to assess your own risk tolerance and adjust the parameters accordingly.
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