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Scalp Scalp

Scalp Scalp indicator uses sophisticated mathematical calculations considering Open, Close, High, and Low prices of the last ten bars. Price reversals are defined and accurately marked by arrows. The indicator signals are not removed or re-painted after new bars appear. The indicator works on all symbols and timeframes. Signals appear on a zero bar:

A Buy signal is a white arrow on the bar low.

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

The Treshold input sets the indicator sensitivity threshold. Suitable values are from 15 to 30. Range parameter sets the minimum allowable price channel width in pips for analysis. Suitable values are from 0 to 20. If Range is 0, the channel width is not considered.

You can also filter signals by tick (Tick_Volume) and real (Real_Volume) volumes for greater efficiency. If Text=true, the indicator shows smoothed tick and real volumes of the last bars. For more convenience, the real volume is divided by 1 000 000.


Inputs

  • Treshold - select the indicator's sensitivity threshold.
  • Range - select the minimum channel width for analysis.
  • Tick_Volume - threshold for filtering by tick volume. Suitable values ​​are selected based on the averaged tick volumes.
  • Real_Volume/1 000 000 - threshold for filtering by real volume. For more convenience, Real_Volume is divided by 1 000 000. Suitable values ​​are selected based on the averaged real volumes.
  • Filtr_Volume - filter by tick or real volumes. 0 - tick volumes. 1 - real volumes.
  • Text - display smoothed volumes.
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Version 2.0 - 2016.11.08
Added Tick_Volume, Real_Volume/1000000, Filtr_Volume and Text inputs.