Recovery Scalping indicator

This indicator is for scalpers who want to make profit from recovery and retracements.

As a scalping indicator, you won't win big but small and steady profits.

How to use this?

  • Open a stop buy order if the price close below the "Recovery" at the recovery price with a TP at the "Expected recovery".
  • It's best to use with an EA to open orders automatically closing at the current "Expected recovery" instead of setting a TP.
  • Doing so will ensure orders will close no matter where the price go without a TP and SL with "Expected recovery" as the closing condition.
  • Using a grid to open orders with the signal with a multiplication will ensure you'll be closing with a profit if the price went further down without hitting "Expected recovery".
  • Recommended setting for parameters are Period - 14, Recovery - 0.05, Expected Recovery - 0.25.
  • This is currently for recovery only and I will add retracement indicator later as well.
  • The indicator is still in development and will adjust further to ensure profit.
  • While it is still usable in any market conditions it's advised to be used after swings.

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