TheBulltrader

Scalp EA for 15 Minute Timeframes and Higher

832 2 106
So I have written this indicator based upon the percentages of the High and the Low of the candlestick with respect to the open price. This indicator by no means tries to find top's and bottom's;however, it does find good opportunities for 5-20 pips reversals or continuations. The signal is provided without delay and should only be based upon the closing of the candle. For example, at open- the indicator will tell you "buy, sell, or remain flat" but you should only buy or sell when the candle has completely closed.
Choose whether to use it for scalps, or to set up larger trades with bigger time frames and support or resistance zones.
*Warning*- This is untested and will remain untested due my unavailability.

Reason behind the coding: As I trader, I like to think that I am always "buying low and selling high"or "selling high and buying low". Throughout my trading experiences, I can tell you that I have done the opposite many times. This indicator helps me in finding opportunities as I have written it to always Sell at the closing price of a green candle and always to buy at the close of a red candle. The indicator makes the attempt to Sell High and Buy Low.
Remove from Favorite Scripts Add to Favorite Scripts
study(title="Buy&Sell", shorttitle="Scalp EA", overlay =true)
x=security(tickerid,'D',high)
y=security(tickerid,'D',low)
z=security(tickerid,'D',close)

buy=(high-open)*10000
sell=(low-open)*10000
a=iff(buy>.1,2,0)
b=iff(sell<-.1,2,0)


d=iff(a==0,1,0)
e=iff(b==0,1,0)

plotarrow(d,colorup=green,colordown=green,transp=50)
plotarrow(e,colorup=red,colordown=teal,transp=50)
Is this a personal modification from the ANN signal, looks pretty similar. Thanks for the hard work.
Reply
@rickjon, I'm not familar with ANN signal but this was one of my first scripts. The idea was a good concept but I believe it is invalid to use on 15 minute timeframe. However, I have since then expanded the concept to my lasted indicator "Range Delta Heikin Ashi" and believe this indicator to be the best which uses the daily time frame.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out