5 min scalping with 5MSM VISHNU Indicator filtered by Donchian Channel Buy and Sell -TradingView-

 Introduction

In this article, we delve into a proven 5-minute scalping strategy utilizing the 5MSM Vishnu indicator, designed to capture short-term trends in volatile markets.

Understanding the Strategy

Developed by Patrick1994, the 5-minute scalping strategy with the 5MSM Vishnu indicator is built upon the principles of trend following. The key components of the strategy include the 5MSM Vishnu indicator, a modified Donchian Channel filter, and specific entry and exit rules tailored for quick trades.

Setup and Indicators:Time Frame: 5 minutes

Suitable Assets: Volatile currency pairs with low spreads, Nasdaq 100, Gold, Stocks, BTCUSD.

Indicators:

5MSM Vishnu indicator (default settings with EMA modified from 200 to 21)

Donchian Channel filter (40 periods).

Trading Rules:

Buy:

Trigger: 5MSM Vishnu buy arrow

Confirmation: Donchian Channel in the green zone

Optional: Buy signal in breakout zone with a buy arrow in the red zone

Sell:

Trigger: 5MSM Vishnu sell arrow

Confirmation: Donchian Channel in the red zone

Optional: Sell signal in breakout zone with a sell arrow in the green zone

Exit Strategy:

Stop Loss: Previous swing high/low

Profit Target: Stop loss ratio from 1:1 to 1:1.2

Money Management: Fixed at 1.5%.

Conclusion

The 5-minute scalping strategy with the 5MSM Vishnu indicator offers a straightforward approach to capturing short-term trends in the market. With a focus on simplicity and effectiveness, this strategy is well-suited for both novice and experienced traders alike. By adhering to the defined rules and employing proper risk management, traders can aim for profitability rates exceeding 58%. However, it's important to remember that no strategy guarantees success, and traders should always exercise caution and diligence in their trading endeavors.

Download

https://drive.google.com/file/d/1xH0xMUfrfN7ITxC44E5IMNWYFZAP1bl-/view?usp=sharing