This script is working with more indicators and everything is balanced by hard work on (back)testing.
Result for users is a simple signal to SELL.
You can use it as easy indicator in your graph or create alerts.
I have the best results on 1min graph, with leverage and stop-loss feature.
This is my own version of scalping Sell Script / Indicator, which is a combination of few indicators, for example RSI , BB and price levels (actual and average) and works on standard candles.
SELL signal paints above the candle and you can set your target / trailing / stop-loss in the settings and check how it works in Strategy Tester.
Settings of this Indicator:
- Take Profit
- Stop Loss
- Trailing Stop Loss
- Trailing Stop Loss Offset
- Initial Capital
- Base Currency
- Order size
- Average price lines (colors and visibility)
- Plot background
These signals can be often observed at the beginning of a strong move, but there is a significant probability that these price levels will be revisited at a later point in time again.
Therefore these are interesting levels to place limit orders.
A Sell signal is defined as the last up candle before a sequence of down candles.
In my trading settings I have more but small positions, one safety limit order (for price averaging = better entry - easier close in profit) and stop-loss.
Sometimes trailing-profit feature have very nice profits.
Settings depends on your own money-management and free capital.
Don't ignore UP / DOWN trend. For UP trend I have an Indicator too (check my profile).
In addition to the upper/lower limits of each line, also average value is marked as this is an interesting area for price interaction and better view.
PM me to obtain access, more informations or support.
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