This scalping system is a contrarian strategy. This is useful in a 5 to 15 minute timeframe and works in any currency pairs. The TrendWave indicator is the leading indicator used in this system because it can detect reversals in an accurate manner. This indicator does not generally trigger signals during choppy sideways markets. It does not paint in arrears and most importantly, it does not repaint.
Bollinger Bands(50) deviation 2 color red;
Bollinger Bands(50) deviation 3 color orange;
Bollinger Bands (50) deviation 4 color yellow;
Trend Wave indicator
Arrow buy must confirmed if the price has broken orange or yellow upper band.
Arrows sell must confirmed if the price has broken orange or yellow lover band.
Take profit on previous band on the middle band or fast profit.
Stop loss should be 2 pips above or below yellow band.