Tick Chart Scalper
This is a fast scalping system.
Tick Chart indicator attached.
The indicator will track tick bid & ask prices.
Buy signal appears when Ask Price is faster than Bid Price by a predefined number of points.
Sell signal appears when Bid price is faster than Ask Price by a predefined number of points.
Entry :
- Buy: on first buy signal, optionally add on consecutive buy signals
- Sell: on first sell signal, optionally add on consecutive sell signals
- Ignore Buy Signals on a falling Ask Price.
- Ignore Sell Signals on a rising Bid Line
Exit (any or all below options):
- Option 1: Close all positions on opposite signal
- Option 2: pre-set SL and TP (in the range of spread*2 to spread*5, with 1:2 risk to reward).
- Option 3: Trailing Stop.
Confirmation (any or all below options):
- Option 1: Consecutive Signals of same type.
- Option 2: You can use an MA on M1 or M5 for confirmation, where you take only Long signals above MA, and only short signals below MA
- Option 3: Follow the current higher time frame candle (e.g. H1) , if up only buy, if down only sell.
The system is still under manual testing.
More on this later ...
Attached File(s)
No guts, no glory
