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This scalper indicator shows the moments, when you can safely earn 10 point profit with risk only 2 points. It allows greatly increase the deposit during the day, if properly money management used.
The indicator has only one input parameter - number of bars, used for the calculation of trend.
When the signal appeared, place pending order at the price, 2 points higher than the current price (for buy) or 2 points lower current price for sell.
- Stop Loss - 2-3 points;
- Take Profit - from 10 ponts;
- Recommended timeframe - M1.
The symbols with high volatility and small spread - EURUSD, AUDUSD, GBPUSD, EURJPY etc.
If position has been opened, but the price hasn't reached Take Profit price, modify Stop Loss to break-even level and use Trailing Stop of the position at Low price of the previous bar (for long positions) or High price of the previous bar for short positions.