Review: SIMPLE and PROFITABLE Scalping Strategy!

In this video I review a trading system from the ForexSignals TV Channel. Andrew Lockwood goes over this very simple scalping strategy that he uses himself. I was curious about how it performs over 100 trades and very happy with the results.

In addition to reviewing the indicators, providing exact entry rules, defining the take profit and stop loss levels, testing it for 100 consecutive setups, reviewing the results, discussing the equity curve, and scoring the system on a scale of 1 to 10, I also share my 6 optimization tips that you can try in your own trading system development. Do not neglect back and forward testing, that is critical.

⏱️ Timestamps ​​⏱️
00:00 - Start
00:43 - Indicators
01:40 - Long Examples
04:18 - Short Examples
06:59 - Results, Equity Curve, Score
08:29 - Optimization

⚙️ System Specifics ⚙️
📛 System Name: The Lockwood Scalp
🏆 Trader’s Landing Score: 7
🎹 Instrument: EUR/USD
⌛ Time Frame: 1-Hour & 5-Minute (H1/M5)

👀 TradingView Indicators
Name: Exponential Moving Average (EMA)
Inputs: 21 Length
Style: White
By: TradingView Built-In
Timeframe(s): M5, H1
Link: https://www.tradingview.com/support/solutions/43000592270-exponential-moving-average/

Name: Exponential Moving Average (EMA)
Inputs: 13 Length
Style: Orange
By: TradingView Built-In
Timeframe(s): M5
Link: https://www.tradingview.com/support/solutions/43000592270-exponential-moving-average/

Name: Exponential Moving Average (EMA)
Inputs: 8 Length
Style: Blue
By: TradingView Built-In
Timeframe(s): M5, H1
Link: https://www.tradingview.com/support/solutions/43000592270-exponential-moving-average/
☝️ Long Entry

1. 8 EMA above the 21 EMA on the H1.
2. Price trading above the 8 EMA on the H1.
3. 8 EMA is above the 13 EMA, the 13 EMA is above the 21 EMA, fanned out on the M5.
4. Price touches the 8 EMA on the M5.
5. Price does not close below the 21 EMA on the M5.
6. Count back 5 candles above the trigger bar, mark the lowest level, subtract 3 pips, and place a buy stop.

👇 Short Entry

1. 8 EMA below the 21 EMA on the H1.
2. Price trading below the 8 EMA on the H1.
3. 8 EMA is below the 13 EMA, the 13 EMA is below the 21 EMA, fanned out on the M5.
4. Price touches the 8 EMA on the M5.
5. Price does not close above the 21 EMA on the M5.
6. Count back 5 candles below the trigger bar, mark the lowest level, subtract 3 pips, and place a sell-stop.

🔥 Risk to Reward: 1:1 & 1:2

🛑 Where to place stop-loss:
For Longs: 3 Pips below the trigger bar.
For Shorts: 3 Pips above the trigger bar.
🚀 Where to take profits:
For Longs: 50% - 1:1 & 50% - 1:2
For Shorts: 50% - 1:1 & 50% - 1:2

⚠️Disclaimer: This content references opinion and is for information purposes only. Not intended to be investment advice.
Attribution
Link to Original Video from the ForexSignals TV Channel (SIMPLE and PROFITABLE Forex Scalping Strategy!): https://youtu.be/zhEukjCzXwM