Scalping formula

The Scalping formula indicator is intended for stock players and Forex traders. It is never redrawn, it automatically build support and resistance levels, draws entry arrows using 4 buy rules and 4 sell rules. The main idea of the indicator is to show strong support and resistance levels, possible bounces and breakouts of the levels. The indicator marks iceberg orders by generating a sound alert. It can work on all symbols.

Description of buy and sell entry rules:

• rule No. 1 for entry into a long - candlestick body and shadows do not break out the level
• rule No. 2 for entry into a long - breakout and Close below the level
• rule No. 3 for entry into a long - breakout and Close above the level
• rule No. 4 for entry into a long - resistance turns into support, breakout candlestick closes above the level
• rule No. 1 for entry into a short - candlestick body and shadows do not break out the level
• rule No. 2 for entry into a short - breakout and Close below the level
• rule No. 3 for entry into a short - breakout and Close above the level
• rule No. 4 for entry into a short - resistance turns into support, breakout candlestick closes above the level

Indicator Parameters

• alert - a sound alert
• distance - distance between the arrow and the bar
• buy - the color of the buy arrow
• sell - the color of the sell arrow
• line color
• size - the size of arrows
• line - line width
• history - history depth in bars