Pump and Dump Screener for MT5
Pump and Dump Screener - is a screener that allows you to work according to the Pump and Dump strategy, that is, identify assets that are more than usually overbought or oversold within the selected time frame.
The law rules the market: buy cheaper, sell more expensive, but without an automatic scanner it’s very difficult to identify assets that are overbought or oversold, say within the current week, or the current hour, or month.
Assets can beforty or one hundredand forty instruments, sometimes you just physically do not have time to analyze everythingmanually, these problems can easily be solved using the Pump and Dump scanner.
- the scanner can be used on any TF
- the scanner works with currencies, stocks, cryptocurrencies, goods, indices and other tools
- The Pump and Dump strategy is universal as it is built on the fundamental laws of the market
- according to the Pump and Dump strategy, a lot of information confirms the appropriateness of its use, and the scanner will make it convenient and fast
Determining the average value for each instrument - screener Pump and Dump not only determines the overbought and oversold conditions of the asset on your chosen TF, but also calculates the average value of the price change over the selected time frame for the selected instrument.
Further,all instruments with a current growth or fall rate above normalare painted in the colorof your choice, after which the selected instruments can be opened separately and proceed to a more detailed analysis.
Pump and Dump Strategy Explained
- for the Overbought Assets ↓ table, we are looking for assets whose current overbought index is larger than usual, go to the chart to analyze the asset in more detail, and if we see an interesting entry point, we sell the asset in a trend.
- for the upward Oversold ↑ we are looking for assets whose current oversold index is larger than usual, go to the chart, analyze the asset in more detail and if we see an interesting entry point, we buy the asset according to the trend.
We put SL / TP within your trading system.
By a more detailed analysis, I mean considering levels, a trend on other TFs, a fundamental picture of the selected instrument, etc.
== Main settings ==
Pressing the “A” buttonin the overbought table sorts and displays only those instruments whose overbought value is greater than usual. These tools are interesting for finding sales.
The button "A" property is similar for a table with oversold assets.
Choosing a template indicator to open by click -select a template for opening a tool by click. Each cell has a link to open this chart, we recommend creating a new template with the iPump indicator, and give a name to the iPump indicator template, then when you click on the link you will see the indicator automatically load on the chart. Here is the instruction - https://prnt.sc/sotrb7
== Trend Calculation ==
Time frame of the main trend - the time frame of the main trend, when you select the "One Trend" button, then the tools are sorted by this TF
Secondary Trend Time Frame - the time frame of the secondary trend, when you select the "Two Trend" button, then the tools are sorted by the coincidence of the secondary trend with the main one.
== Average Calculation ==
Default multiplication coefficient of the average value - the default multiplication coefficient of the average value, the meaning of this setting is to multiply the average by the number specified in this setting, this allows you to find assets that are currently overbought or resold at 1.5 / 2, etc. time
A full list of settings in this article https://www.mql5.com/en/blogs/post/736950
The setting "Time frame selection for overbought / oversold analysis" is responsible for which period you want to analyze assets, I recommend analyzing this indicator for D1, for inter-day trading.