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Scalp Scalp Pro

The algorithm of the Scalp Scalp Pro uses an original mathematical calculation, in which Open, Close, High and Low of the last ten bars are analyzed. The indicator accurately identifies price reversals. The indicator accurately highlights price reversals. The indicator signals are not redrawn, do not blink or disappear as new bars emerge. The indicator works on all symbols and timeframes. Signals appear on the zero bar as white and red arrows:

Buy signal is a white arrow on bar's Low.

A Sell signal is a red arrow on the bar's high.

The Threshold input sets the indicator sensitivity threshold. Recommended values are from 15 to 30. The Range parameter sets the maximum width of the analyzed channel, in which the price moves, in pips. Valid values are 0 to 20. If Range = 0, the channel width is not taken into account. The Shift parameter sets the distance between arrows and high/low of a bar. The valid values are from 0 to 50.

To increase the efficiency of the indicator, it is possible to use signal filtering based on the size of Tick_Volume. If Text=true, the indicator displays the averaged values of tick volumes of the last bars.


Inputs

  • Threshold - select the indicator sensitivity threshold.
  • Range - set the minimum width of the price channel.
  • Shift - distance between an arrow and the bar high/low.
  • Tick_Volume - size of the filtering threshold based on tick volume. Suitable values are selected with consideration of the averaged tick volumes.
  • Text - indication of the averaged tick volumes value.
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Version 2.0 - 2016.11.11
Added the Tick_Volume and Text input parameters.