NinjaTrend Scalping Assistance
This indicator captures the trend. It conducts Zig-Zag and Fractal analysis and generates a sell signal when both analyses exceed a set level.
The reason for not winning with FX is because “it does not capture the real trend” and because “the trend changes frequently”.
Another reason is the continuous usage of the free of charge indicators despite it has many repaint functions. Therefore, this indicator solves these problems.
It is very simple to use as green bar indicates that buying is the trend while a red bar shows that selling trend.
As this indicator “hardly employs repaint” and “the range market price does not change frequently”, it is easy to judge the trend. (Repaint may happen when unforeseen large scale changes occur).
You can easily and accurately conduct scalping by switching your indicator and strategy to this indicator. It is basically used on M5.
EURJPY is the main currency but any currency may be used.
Parameters set up
- View-able bars: The number of bars sets up the displayed number. When the number of bars is large, operations may increase.
- tperiod: sets up the value of fractal. The default is 4.
- Pips: Prevent “frequent signal changes” at times of entry. The default is 0.05.
Pips set up values
The digits representing each currency should be changed to 0.05, 0.005, or 0.0005.Adjust the number of digits in order to obtain correct pips display.
The EA is based on and fully complies with principles described in the article https://www.mql5.com/en/articles/250 , which are put into action in the indicator https://www.mql5.com/ru/code/10339 (in Russian). The EA opens and closes orders according to signals of the stated indicator on any time frame (TF) and gains advantage due to forecasting features of the indicator. Medium-term trading: from intraday trading to trading within several months. Tested on EURUSD. A corresponding trading positi
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