at Stochastic Oscillator thread , Dear Mladen wrote a cool indicator , which was Dear PAVA's idea.It was DSS3 .
It's a good system for scalping .
I want to scalp with it and share my result at this thread .
I am not an scalper , I never trade below 15m . but with this system I want to try my chance on scalp .
it's the result up to now , and today .
If not much trouble...attach Visual Orders ind. to your chart...will help to understand logic behind your trading choices...thank you
It will not help so much in case of scalping.
For example - it is my case for today with this system (using this visual tool):
May be - there is some other tools?
or it can be coded ...
- indicators and how to install - this post.
- rules to trade - this post.
- confirmation of the trend on more high timeframe - this post.
I see...What is I-XO-A indicator?...I can not find it anywhere...I found XO...but don't know if this is the one...
It is old indicator (attached) modified to work for 5 digit brokers.
By the way - I am not using it all the time because I am scalping just 1 or 2 hours in a day only.
This indicator will help if traders are working whole the day trying to trade for example.
PS. Updated this post with I_XO_A_H indicator uploaded for 4 digit broker.
Thank you...will put it to the test:)
What is the best TP and SL for this strategy ? especially which you use... newdigital.
Check post #4 of this thread about indicators and rules.
To make it shorter: I am using initial stop loss as 50 pips (4 digit pips) and take profit from 10 to 50 (initial take profit).
But I am trying to use take profit to be same with levels of MA channel on the chart ... something as 'first tp level', second tp level' and so on. And I am making re-enter depends on the price compare with MA channel too.
To say a true - sl levels should be defined based on opposite lines of MA channel ... so it should not be 50 pips (it is less than 50) ... but I do not have time sometimes to modify everything manually as it is some way of scalping and MA channel lines are not horizontal lines so ... tp and sl should be modified all the time. It is difficult to do it manually every minutes so I am using just fixed sl = 50 with tp = from 10 to 50 depends on the level of MA channel lines.
Why we call it scalping?
Because first profit level may be just few pips only.
It is the example from now:
Deposit was tripled by double
Stoch scalping on M1: