Manhattan Scalp Indicator
Rules for trading with the "Manhattan" indicator
The indicator is based on the evaluation of the trend direction, the signal is generated when there is a strong movement against the trend - correction. The indicator generates a buy or sell signal with the trend after a strong correction.
- The indicator gives the buy and sell signals by showing the corresponding arrows on the chart. see screenshot and video
- The signal must be confirmed by a rebound from the resistance or support levels, as well as the trend lines
- The main working chart timeframe is М5, signal confirmation can be viewed on other timeframes as well
- The main instruments - GBP/USD, EUR/USD.
- StopLoss - 100-150 pips on 5-digits
- TakeProfit - 100-200 pips on 5-digits
- Risk per trade - 2% of the deposit
- Count - the number of candles to analyze the correction
- TrendPower - the number of candles to analyze the trend direction
- Alert - enable/disable sound signal and pop-up Alert