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Mr Pip Scalping Indicator

Mr Pip Scalping Indicator

is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset with few major tweaks. This is NOT RSI.

Features V2:

Added Supply/Demand Filter

  • You can select which zone to see on the chart ( Important Resistance/Support; Verified Resistance/Support; etc).
  •  You get alerts when prices is entering on a specific supply/demand zone.

How to use?

When the signal comes, you will prepare.

At the end of the current candle you enter into the trade.

Can I take all the signals?

No, you must follow some simple rules.

What are the rules?

  • Alert comes in and the current candle is rejected at strong supply/demand.
  • How to find the strong supply/demand zones?

  • I recommend use of H4 zones.

    Look for a strong rally. Then without warning, the price suddenly reverses and drops FAST.
  • You enter at the opening of the next candle.
  • DO NOT trade during news.

How to take only profitable signals?

  • Use H1 or higher TFs. Greater the TF, higher the probability that the price will stop at that point.
  • After you got a supply/demand wait for a signal to appear around that zone. If that candle is a rejection of the zone it's a good trade.

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Version 2.0 2019.05.02
Added Supply/Demand Filter.