Top Scalping Indicator
Top Scalping Indicator
The indicator is based on price action and market timing algorithms to determine these continuation and turning points at significant support and resistance levels in the markets.
It makes your trading very systematic and mechanical.
That way, you can be sure you have chance to enter in the market at the level of the short term trend and take a high probability trade and ride a great part of the trend.
Once the Top Scalping indicator has spotted an entry pattern, it clearly displays a Buy or Sell signal on your 5M chart, showing you exactly where possible entry to continue with the trend.
It works only for scalping or daytrading in 5 minutes charts on any instruments. Better results are in the London and NY morning sessions.
If you follow the Entry rules, you are on the right side of the trend.
Trade Setup Definitions
- Signal bar: It is the closed bar where the indicator is plotted (Blue or Red dots) in the chart.
- Entry bar: The first bar after the signal bar that reach the high of the Signal bar.
Setup Entry Rules
- Wait for the Signal bar closes. Enter the Long trade 1-2 pips above the high of the signal bar (Opposite for Short).
If any bar after the Signal bar closes below the low of the signal bar, the signal is invalid and the setup is cancelled.
- Stop Loss (SL): The Stop is 1-2 tick below the low of the last swing. That is the nearest higher low in the up trend (long trade). The difference between the entry and the stop is your risk in points of the trade – 1x.
- Take Profit (TP): Trades profit are based on the length of the SL, making it dynamic and self adjusting in each trade.
- 1st Target TP1 is 1x. The length of the trade risk in points.
- 2nd Target TP2 is 1.5x or 2x.
- Trailing Stop. Activate trailing stop after price hits TP1. Use any trailing technique or just wait for an opposite signal from Iteksignal for exit.
- High probabilities scalping trading patterns.
- Multiples entry points.
- Works on Forex, Crypto, Stocks, Commodities.
- Works well for daytrading and longer timeframes, like Daily, H4 and H1.
- Plug and play, just hit the ground running.
- Very easy even for complete beginners.
- No big drawdown
- No big stoploss