Intraday Scalper is a mechanical trading system that displays trade opening and closing points as arrows and squares on the chart. The system has been developed for those traders who do not have their own trading system. Intraday Scalper uses an averaged market analysis algorithm to determine the most effective moments for opening and closing positions and graphically shows the appropriate information. In addition, information about profit/loss is shown in the upper right corner. This indicator can be used as an independent trading system. Indicator settings include three parameters, which influence its performance. Below we describe how to set up these parameters and select the most effective values for your currency pair and timeframe.
Algorithm of the Intraday Scalper indicator
This indicator analyzes the market using several signals, determines the direction of the current trend, and selects the optimal point of effectiveness for opening a position. When the market trend changes, the indicator generates a signal to close the deal.
Advantages of Intraday Scalper
- works on all currency pairs
- works on all timeframes
- can be used as an independent trading system
Intraday Scalper indicator parameters
- period - indicator period. The default value is 14;
- step_price - the step of price change. The default value is 0.09;
- bars - the number of bars, on which the indicator will be displayed. The default value is 500;
- inform - show/hide additional information on the screen.
- Color - the color for the additional information display.