New Possible Scalping system
Cj. Gday.
You are running a bit quick for me :-)
Had a look at the concept and there were winners on some of the pairs this morning.
Few notes if I might.
A The ROC indi you are using is a beta version. V1.2 is attached.
Update is:
1- Will recognize large priced pairs and change price multiplier accordingly. Means you can pop it on a USDJPY chart and a EURUSD chart without changing anything.
2- WPR period can be left at 2000 to get consistency in concept across the board.
3- Trigger lines adjustable around 0 for easier visualization.
4- Most important, you can see the red line which signifies relative over bought/sold.
B I have attached the new ROC Rainbow to help with your idea. Very helpful to attach to a H1 Chart as well as M1. Blue Maroon pockets are value pockets that the price must fill at some point and green red is the direction of the herd. Very powerful. Just need to document it as soon as I am able.
C I have renamed the 4ma indi back to what the author had it. Silly to have an indi with such a convoluted hash. Now ( 4_Period_MA.mq4 )
D Template attached as per pic. If new users load all the files from the ZIP and apply the template all should be ok.
E Template is set to trigger an arrow when the -40 and -60 lines are crossed with no delay on the WPR. It is then up to you to check the ROC has broken the 0 line as per your suggestion.
There are some other good setups evident as well.
Hope this helps.
Cheers.
ps. and no, I missed the WPR2000 trade while fixing this. D---n. Sitting weekend gap duck that stuck out like the proverbial s.
This looks interesting, I,ll try it out.
In the williams ROC. For short does the red line have to go below zero, or the green and blue.
if you style is scalping
you may use this one -- on 15M or 30M chart, whatsoever
but better to tell newbies that scalping need technique and market conditions , people scalp for different amount of pips
everything in forex does incur potential risk and reward
this is FUN >> click this link [ when scalping entry condition occur, this will tell you how to scalp , within a candles or next fews] - EASY
https://www.mql5.com/en/forum/179449/page69 -- sclaping indicator available there -- for you to start -- so you can double confirm with indicator in this thread
Scalping on indicators is useless.
The indicators are to late.
My experience: use open price, current time and price movement!
Bongo
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Hey guys. This is the thread for exploring whether Brookey29's William's ROC indicator can be used as the trigger for a scalping system. Here's what I'm thinking so far:
Using my William's 2000 concept (that system ishere) as the bases for our trades we will use the 4periodma and other tools for further filtering and in-trade analysis.
See the attatched image.
The William's 2000 is used to give us an at a glance view of where the currency pair is. Set the Williams % indicator to 2000 on the 1 min chart and zoom all the way out. Set levels at -20, -40, -50, -60 and -80.
Set the William's ROC indicator to 20 and apply to chart.
Apply Igor's Juice_mod next.
We are only buying when the William's 2000 is above -40 and only selling when William's 2000 is below -60. Buy when the ROC closes above zero and the 4periodMA shows a good amount of support below the price with no major resistance within 10 pips. Juice should be increasing to or already be at the trigger line.
That top part bears repeating: If juice is flat lining at the time the signal goes off then just ignore it.
I'm not sure about stop loss and take profit yet.