Scalp Signal with SL TP
- Indicators
- Version: 1.2
- Updated: 6 March 2026
- Activations: 10
Scalp Signal with SL TP Indicator — Trading Guide
What It Does
Scalp Signal with SL TP detects high-probability reversal entries by combining RSI extremes with candlestick patterns. It prints buy/sell arrows on chart with auto-calculated SL and 3 TP levels based on ATR.
Built for scalping and intraday trading on MT5.
Signal Types
The indicator generates 3 types of signals. Each requires RSI to be at an extreme level before triggering.
1. Engulfing (Default: ON) The primary and strongest signal. A bullish engulfing candle forms while RSI is at or just left oversold territory — or a bearish engulfing while RSI is at/just left overbought. This captures momentum shifts confirmed by price action.
- Buy: Current close > previous open + previous candle was bearish + RSI ≤ 15 (current or prior bar)
- Sell: Current close < previous open + previous candle was bullish + RSI ≥ 85 (current or prior bar)
2. Hammer / Shooting Star (Default: OFF) Detects single-bar reversal patterns using a Fibonacci body ratio. A hammer with a tiny body near the high during oversold RSI suggests buyers stepped in. A shooting star with body near the low during overbought RSI suggests rejection.
- Buy: Hammer pattern + RSI ≤ 15
- Sell: Shooting star + RSI ≥ 85
3. Two Bull/Bear Bars (Default: OFF) Two consecutive bullish candles while RSI is oversold, or two consecutive bearish candles while RSI is overbought. This confirms sustained directional pressure at extremes.
- Buy: 2 green bars + RSI ≤ 15
- Sell: 2 red bars + RSI ≥ 85
You can enable multiple signal types simultaneously. Engulfing alone works well for most traders.
SL & TP Logic (ATR-Based)
Every signal automatically draws SL and 3 TP levels using ATR (default period: 14). This adapts to current volatility — wider stops in volatile markets, tighter in calm ones.
| Level | Default Multiplier | Purpose |
| SL | ATR × 1.5 | Stop loss — room for noise without excessive risk |
| TP1 | ATR × 1.0 | Conservative target — secure partial profit early |
| TP2 | ATR × 2.0 | Main target — where most of the position closes |
| TP3 | ATR × 3.0 | Extended target — let runners ride with trailing |
Example: If ATR = 20 pips on EUR/USD M15, a buy signal at 1.08500 gives:
- SL: 1.08200 (30 pips)
- TP1: 1.08700 (20 pips)
- TP2: 1.08900 (40 pips)
- TP3: 1.09100 (60 pips)
All multipliers are adjustable in settings.
Recommended Settings by Style
Aggressive Scalping (M1–M5)
- RSI Length: 5–7
- RSI Levels: 80/20
- ATR Period: 10
- SL: ATR × 1.0
- TP1/TP2/TP3: 0.8 / 1.5 / 2.0
- Signals: Engulfing ON, others optional
Standard Scalping (M15–M30)
- RSI Length: 7 (default)
- RSI Levels: 85/15 (default)
- ATR Period: 14
- SL/TP: Default multipliers
- Signals: Engulfing ON
Intraday Swing (H1–H4)
- RSI Length: 9–14
- RSI Levels: 80/20
- ATR Period: 14–20
- SL: ATR × 2.0
- TP1/TP2/TP3: 1.5 / 3.0 / 4.5
- Signals: All three ON
How to Trade — Step by Step
Entry
- Wait for an arrow to appear on a closed bar. Do not act on the current forming bar.
- Check the signal label for entry price.
- Enter at market or set a limit order near the signal price.
Position Management
- Set SL at the drawn SL line immediately.
- At TP1 — close 30-50% of position, move SL to breakeven.
- At TP2 — close another 30-40%, trail SL behind recent swing.
- At TP3 — close remaining position or continue trailing.
Filters (Recommended)
- Trade in the direction of the higher timeframe trend. If H4 is bearish, prioritize sell signals on M15.
- Avoid signals during major news releases (NFP, FOMC, CPI).
- Skip signals with unusually small candles — they often lack conviction.
- Best pairs: major forex pairs, gold, and indices with good liquidity.
Key Settings Reference
| Parameter | Default | Description |
| RSI Length | 7 | Shorter = more reactive, noisier |
| RSI Overbought | 85 | Higher = fewer but stronger sell signals |
| RSI Oversold | 15 | Lower = fewer but stronger buy signals |
| Hammer Body Ratio | 0.333 | Smaller = stricter hammer detection |
| ATR Period | 14 | Period for volatility measurement |
| SL Multiplier | 1.5 | Distance of stop loss in ATR units |
| TP1/TP2/TP3 | 1.0/2.0/3.0 | Take profit distances in ATR units |
| Max Calc Bars | 500 | Limits calculation range for speed |
| Show SL/TP Lines | ON | Draw SL/TP levels on chart |
| Alert Enabled | ON | Pop-up + push notification on signal |
Tips
- RSI 85/15 is strict by design. It filters out most noise but means fewer signals. If your pair rarely hits these levels on your timeframe, loosen to 80/20.
- The "Max Calc Bars" setting (default 500) limits how far back the indicator calculates. Set to 0 for full history, but 500 is enough for live trading and keeps the chart fast.
- ATR-based SL/TP automatically adjusts to session volatility. London and New York sessions will produce wider levels than Asian session — this is correct behavior.
- Combine with support/resistance or supply/demand zones for higher conviction entries.
- Always use proper risk management: 1-2% of account per trade maximum.
Scalp Signal with SL TP is a signal indicator, not an automated trading system. All trading decisions and risk management are the trader's responsibility. Past signals do not guarantee future results.
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-> weldone, pls check and help me for test if any proplem (not notification), psl see guide and follow. If you do all with guide on what news , pls response for me. Thank