Abiroid HT Scalper Arrows and Scanner

This post contains the extras for HT Scalper Arrows Indicator.

Attached Arrows Demo will work with full features for 1 month: Till mid July 2024.

After that it will work for 3 pairs: "EURUSD or USDJPY or AUDUSD"

It's available for purchase here:

https://www.mql5.com/en/market/product/118644/

Please note that the Halftrend MTF will work on any chart. But scanner only works with it's corresponding arrows indicator.

Make sure to keep scanner in same folder as arrows. If you purchase Arrows, then it will be in: MQL4/Market folder. So copy the scanner ex4 there.

Best Conditions:

It works on M15+. Best timeframe is H1.

And max timeframe needs to be less than whatever max HTF you select.

Suppose you are checking 2 higher timeframes, then keep your Max timeframe D1. So that it can check alignment on D1,W1,MN1.

If you select W1, then it won't be able to check all higher timeframes. And so, with NumHTF: 2, W1 will be ignored as 2 HTFs can't be supported.

This strategy works best on High Volatility Strong Swinging markets. Especially for pairs like Forex Core 7 or 14. Or Crypto pairs which are traded a lot.

Whichever symbols have good volatility. And so, it will depend on time of day. Example, NY Open or London open will give most volatility to EURUSD, etc.

Most stocks, commodities won't do well as they won't have good swings.

 

Don't Trade Conditions:

When market is weak and tightly ranging like this, skip the signals. As they won't give that much profit:

Look for markets when HTF Halftrend lines start having a good separation. That will indicate strong volatility:

Halftrend Stacking:

Halftrend lines stacking will indicate that price is in a trend. Stacking means: For BUY: Blue halftrend HTF is lowest, medium is in middle and lowest TF (currentTF) blue line is above all lines.

Same for SELL, but in reverse. Highest HTF red halftrend line is top most, then middle TF, then lowest TF.

Stacking is not very important, since this is a scalper. But if you are only trading really strong trends, and need to look for when price retraces to HTF halftrend line, only then use stacking.

But stacking on will limit signals by a lot.

 

Be Careful Conditions:

When signal bar has already reached too far, then be careful and don't trade immediately. Because this can mean that price will retrace after that. And then continue with the trend.

This can often times happen during Important News Events. So, never trade such signals directly after the arrow. Wait for price to retrace a bit after the long bar.

 

How To Use - Symbols Explained:

Arrows:

When it first detects a cross, you'll see "CROSS" debug message. But if a signal is skipped, you'll see the reason in Debug Messages:

NO-ALIGN-TF	Shows which timeframe is not aligned properly. It will use Current Timeframe's halftrend Trend direction by default. If Check Current TF Trend is false. Then it will check starting from next higher TF.
NO-VOL	No High/Medium Volume Bar. Check nly if Check Volume is true
CROSS-SKIP	If a previous cross has happened on same level and "Allow Only One Signal Per Halftrend Level" is true
NO-STACK-TF	If "Check Halftrend Stack" true and Halftrend lines are not stacked

Scanner:

Scanner and Arrows have a lot of common settings. So you can use set files interchangeably between them.

Be careful to use separate unique prefixes for both if using on same chart.

Scanner shows Arrow for last signal. And bracket number is how many bars back the signal occurred.

In above image, Max Past Bars on scanner is 80. So any signals before that will have "None".

Note: Default settings can be quite restrictive and will give fewer signals. But those will be good as they follow the higher trend.

Common scanner settings:

https://abiroid.com/abiroid-scanner-dashboard-common-settings/

Settings:

Basic Settings:

Prefix - Use a unique prefix. Used to draw debug messages on chart

MaxPastBars - Check signals for these Max bars

Shift - First candle where check starts. If shift is 0, then be careful. Because while candle is still forming, the halftrend arrow might switch. Which is why default shift is 1.

Refresh After Ticks - If shift is 0, then refresh all checks after given number of ticks.

Wait Bars After Signal - If a signal occurs, then new signal will wait for at least these number of bars

Halftrend Settings and HTF Align:

Halftrend Amplitude - Default is 2. If you want to use this as a scalper only, then setting to 1 will give more signals. But careful, higher amplitude gives longer trends.

And small amplitude like 1 will give many signals, but not all will be strong:

Check Halftrend Stack - If true, then it will check if all HTF halftrend lines are aligned and stacked.

Total HTF Trend Check - Number of HTFs to check.

Meaning suppose you have current H1. And this Num HTF is 2. So, you are checking H1,H4,D1.

If Stacking is true:

For BUY: It will check that D1 is lowest and H4 is in middle and H1 halftrend is at top.

Same for SELL but vice versa. Keep this settings false for scalping. As it will limit signals a lot. Use if you are trading trends only. You can also keep "Check Current TF Aligned" to false.

Then it will only check H4 and D1 for alignment and stacking. It will skip current H1.

If Stacking is false then it will only check alignment.

Allow Only One Signal Per Halftrend Level - true

Sometimes halftrend line might move sideways. And while price is ranging, it will cross it multiple times and use it as a Support/Resistance.

If true, then you only get the first signal. If false, then you will get all signals when price crosses:

             

Multiple signals usually happen when price is low volatility, or stuck in a tight range. So, be careful and don't trade all signals as they will give you very small profits.

Volume Check:

If true, then the bar which crosses halftrend line should be a high/medium volume bar. You can turn Medium volume on/off.

It uses VolumeCandles.ex4 indicator internally. It's in extras folder.

Max Spread:

If you are using it as a scalper, and need to only trade pairs with a good spread, set this to some tight spread like 15. If you need to disable check, then set 0.

Debugging:

Show Debug Text - will show a text above bar to tell you why a signal is skipped

Show Debug Bar Numbers - Only use this when debugging a spacific signals, because as price moves, it will keep shifting bar number, and debug message might show wrong numbers. As older signals won't be re-calculated. This is a non-repainting indicator.

Debug Specific Bar in Logs: "-1" means disable

Set this to a bar number to see details about that bar.

Example, if you set it to 335, then in Experts tab logs you will see each check step-by-step for bar 335:

Alerts:

Get Popup, Mobile app Notifications, Sound, File Alerts, etc.

Scanner Settings:

Past Bar Back Alerts:

If using scanner, you can set this if you need older alerts also. Suppose 10, then it will check past 10 bars for signals and give you alerts. Default is 1, because we are more interested in immediate alerts on bar 1.

Color Custom:

Set colors for arrows, Buy/Sell colors etc.