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M1 Countertrend Scalping Strategy
- #4,064
- Edited 9:20pm Mar 8, 2023 9:07pm | Edited 9:20pm
- Joined Mar 2018 | Status: Trader | 224 Posts
Taken out at $5.67.
I want to show some screenshots on how to use M1 zones to counter-trend scalp back to the 20ema or even to an opposite zone. They are by no means fool-proof but they provide pretty sharp reaction levels.
I want to show some screenshots on how to use M1 zones to counter-trend scalp back to the 20ema or even to an opposite zone. They are by no means fool-proof but they provide pretty sharp reaction levels.
Leave the Gun, Take the Armani
I draw them manually. You can try using those free Supply & Demand indicators and see if they suit you. I do use a Drawing Toolbox indicator to speed up the drawing and i use another indicator to alert me when price breaches the zone. Refer to my post here.
If you use the Alerter4u indicator, I'd advise to set "AddAlerts = fase" and manually set which lines and rectangles you want to be alerted to. If not, you'd get continuous alerts. Set the object description to "Alert_n" where n = number of points. So, if you want to be alerted within 1 pip distance of the line/zone, set it to Alert_10.
If you use the Alerter4u indicator, I'd advise to set "AddAlerts = fase" and manually set which lines and rectangles you want to be alerted to. If not, you'd get continuous alerts. Set the object description to "Alert_n" where n = number of points. So, if you want to be alerted within 1 pip distance of the line/zone, set it to Alert_10.
Leave the Gun, Take the Armani
