Chronicles of the Price Action Scalpers

If any coder sees value in this...
I just found several old threads as I was looking for folks involved in "rainbow / cyrox / short-term scalping, and also for a specialized "grid" indicator (of sorts)...

Here is the goal: to have a *dynamic-adjusting grid* of horizontal / verticle lines that will respond to the volitility (tick?) pip activity in the market, and by user adjustable volume...like 5 or 10 etc. and this will show at the far right edge of the chart) AND over a given (adjustable) time (minutes... and even seconds?), and this will be shown at the lower edge of the chart (like each 30 seconds, minute, 5 minutes, or what you want).

And this "grid is to show true market momentum dynamically in a way that where the "boxes" or cells are square or narrow, it shows *little* activity going on; where the boxes are wider / flatter rectangles, it shows *greater* activity occuring at this (selected) time period.

This kind of "grid" will immediately (and in history) show us where the activity presents lesser, "stay out" movement, and where there is (perhaps) more action/activity going on, to inform us it is a time worthy of consideration (along with our other filters) to, for instance, enter a trade (and I am selfishly referring to very short-timeframe scalping techniques, but the usefulness goes much further).

Any chance the value of such an indicator is wort developing for MT4 / MT5? Or that (wow!) there is such a thing already available?!

Thanks for your consideration.

Ron

I know this is an old thread, but it was exactly what I was looking for tonight. Just read the entire thread and was wondering, are the successful scalpers (Pip Ventures, fxRichard, etc) still using the same approach??? I have always liked the idea of scalping, but kept reading that it was too unreliable, that one should stick with the higher timeframes, etc. After dedicating more than a year to program and backtest -using Dukascopy tick data - any 4H or Daily system I could put my hands on (forums, books,etc) and only getting a barely profitable 4H volatility breakout system, I was getting really frustrated...then I sort of re-discovered the joys of scalping, the rush and all that, but before committing another year of my life, I'd like to confirm what I think was the main message for the whole thread: Screen time is the key.... Is it true? That after spending countless hours watching the price moving, one eventually develops a "sense" for price action??

Thanks in advance for the replies.

I think that if you find a couple recurring patterns that you like and master those, that you will do just fine scalping.... There are many price action and candle patterns...... you need to master one or two of those.

Thanks for your reply, Blaiserboy. I remember reading a very good book about patterns by Martin Pring. I guess is time to read it again. I know they won't be as reliable, but I hope those patterns are still valid for the very short time frames

I just noticed that PipJaeger left me a message regarding the above comment. Unfortunately, as a junior member, I'm not able to use Private Messages. So if you're reading this, PipJaeger, please leave me another message with an alternate way to contact you, as I'm really interested in what you mentioned.

great thread on scalping! I scalp on gold (XAU/USD).

making more money scalping on its bullish market rather than keeping my position for days. buy whenever it goes down and scalp 10usd each 5m. hehe

I am glad I found the thread, but see it is not too active...anyway, websites, blogs, books, and twitter feed recommendations would be very much appreciated for a relative newcomer. Thanks &TIA, -M

Try to search using google for topics that interest you, there is a ton of stuff on the net.

Not sure. But this Asian session price action seems problematic to trade. Maybe this is exception not the rule, but what would you do here?

2 years on...I reckon not, this thread has died, i wonder what the early contributors are doing now...

and what about now,after another 6 years.....