BLAZER FX SCALPER EA

BlazerFX Scalper is another strategy that is suitable for V-75 Index traders. The strategy combines five
Meta Trader 5 indicators for scalp signal generation.

However, the indicators are Moving averages, MACD, Momentum, Relative Strength Index and Bollinger
Bands. The ideal time frame for this strategy is the 5 Minutes time frame. It is also suitable for higher
time frames.
How To Setup The Indicators For BlazerFX Scalper :

Three moving averages are installed on the main MT5 window with the following settings.

BULLISH SETUP:

Price forms a bullish setup on the Main Indicator window when price crosses above all three moving
averages as shown in the image below.
Traders can confirm a bullish trend when the black moving average crosses up on the green moving
average. One can also confirm that uptrend price movement is intact when price continuously bounce
above the black moving average.

The formation of higher highs and higher lows above the black moving average is important for bullish
setup identification.

Bullish setup is partially or fully invalidated when price closes below the red moving average.

BEARISH SETUP:

On the other hand, it forms a bearish setup when price crosses down on all three moving averages. One
can confirm a bearish trend when the black moving average crosses down on the red moving average.

We can easily confirm that downtrend price movement is intact when price continuously slide below the
black moving average.

The formation of lower highs and lower lows below the black moving average is important for bearish
setup identification.

Bearish setup is partially or fully invalidated when price closes above the green moving average.
Technically, bullish or bearish setup represents Price Breakout or Reversal/Swing condition. However,
during consolidation/range period, fake breakouts are visible.

Indicator Window 1:

MACD and moving average indicators are loaded on Indicator Window 1 with the following settings;
Bullish trend starts on Indicator Window 1 whenever the Red moving average line crosses above the
zero level as shown below.

Bearish trend starts on Indicator Window 1 when the Red moving average line crosses below the zero
level as shown below.
Indicator Window 2:

The relative strength Index, Bollinger Bands and Momentum indicators are installed on Indicator
Window 2 with the following settings.
Buy Confirmation/Entry occurs when the red momentum line moves from the lower area below the
lower band and completely cross above the entire Bollinger Bands as shown below.

Sell Confirmation/Entry occurs when the red momentum line moves from the upper area above the
upper band and completely cross below the entire Bollinger Bands as shown below.

CONDITIONS:

WHEN TO ENTER BUY ORDER;

-Place Buy order when the following three conditions have been met;

1. Price closed above the three moving averages on Main Chart,

2. Red line (MA1) is completely above the zero level on Indicator Window 1, and

3. On Indicator Window 2, red Momentum line completely crosses above the Bollinger Bands from
below the lower band area to the top area above the upper band.

4. Stop-Loss is to be placed below the red line below the Buy entry point

5. Take profit at the point when price closes below the red line (trend reversal point).
When To Enter Sell Order;
-Place Sell order when the following three conditions have been met;

1. Price closed below the three moving averages on Main Chart,

2. Red line (MA1) is completely above the zero level on Indicator Window 1, and
3. On Indicator Window 2, red Momentum line completely crosses below the Bollinger Bands from
above the upper band area to the lower area below the lower band.

4. Stop-Loss is to be place above the green line above Sell entry point.

5. Take profit at the point when price closes above the green line (trend reversal point).