Indicators: Dots Indi MT5
Waiting for 2 dots and placing entry at the 3rd is a good confirmation. It looks good for scalping. I will test it out.
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Dots Indi MT5:
Dots (MetaTrader indicator) is based on the 2006 indicator by TrendLaboratory. It displays the current trend direction by placing the dots on the main chart. The blue dots signal bullish trend and the red dots signal bearish trend. Although the indicator doesn't rely on any standard MetaTrader indicators, it uses a call to iMA() (moving average) to get the price values depending on the input price type used (Close, Open, High, Low, Typical, etc.) The calculation is based on the cosine of the angle of price change. Trader can modify several input parameters. The indicator is available both for MT4 and MT5 versions of the platform.
Author: Tuan Nguyen Van