Forex MTF (Multi Time Frame) Scalping Strategy

Scalping is a strategy where a trader enters and exits quickly, roughly within five minutes. If the trading exits after 1 hour, it is not scalping but considered as regular trading.

A simple MTF scalping strategy widely known on the Internet, published by a well-known author:

1. Plain vanilla candlestick chart (no indicators at all)
2. Use only 4 time frames: 5 min. 15 min. 30 min, and 1 hour
3. You don't need to sit in front of your computer all the time. Just be there 5 minutes before the hour switched. For example, if you want to trade at 6.00, get yourself ready at 5.55. Then, if you find no signals, get another chance at 7.00 and again get ready at 6.55.

RULES TO BUY:
- All candles in four time frames have to close as green candles. Do not buy even if you have only one red candle (three green candles).
- When the above requirement is met, use your 1 hour chart, wait for price to move up 3 pips. When it has moved up 3 pips, immediately place long. Do not buy if the price doesn't go up 3 pips more after the closing.

RULES TO SELL:
- All candles in four time frames have to close as red candles. Do not buy even if you have only one green candle (three red candles).
- When the above requirement is met, use your 1 hour chart, wait for price to move down 3 pips. When it has moved down 3 pips, immediately place short. Do not sell if the price doesn't go down 3 pips more after the closing.