Trend Scalping System
Trend Scalping System is a complete trading system and does not require any additional indicators for trading. Trend is displayed in the form of red/green box series in the upper part of the indicator window. The trading signal is shown as a histogram in the indicator window.
When to buy?
When the trend changes to green, wait for a pullback and the red histogram to get below level -35. If the green arrow appears or if you see the red histogram rising, you can enter long. (Wait for the current candle to close.)
When to sell?
When the trend changes to red, wait for a pullback and the green histogram to get above level 35. If the red arrow appears or if you see the green histogram rising, you can enter short. (Wait for the current candle to close.)
Where should I place my stop loss?
You can place your stop loss at recent high (if going short) or recent low (if going long). You can also hold on your trade and close your trades when the trend changes. It is not recommended to open trades against the trend.
Although I have backtested the strategy multiple times, I would highly recommend backtesting or demo trading on your own before going live. Practicing this strategy before going live will give you the confidence to trade and tweak the strategy if required.
Do not revenge trade, there will be plenty of opportunities. Do not take a risk of more than 5% per trade and always keep an eye on economic news and fundamental analysis.
Indicator Options and Settings
- Trend Period = Period used to calculate trend
- Signal Period = Period used to calculate histogram
- Upper Level = Overbought level (default: 35)
- Lower Level = Oversold level (default: -35)
- Level Style = Select the line style for the level (both upper and lower)
- Level Color = Select the color of line for the level (both upper and lower)
Alert and Notification options
- Trend Alert = Get a popup notification when a trend changes.
- Trend Email Alert = Get an email notification when a trend changes.
- Trend Push Notification = Get a mobile/push notification when a trend changes.
- Signal Alert = Get a popup notification when a signal arrow appears.
- Signal Email Alert = Get a popup notification when a signal arrow appears.
- Signal Push notification = Get a mobile/push notification when an arrow appears.