TheBulltrader

Scalp EA for 15 Minute Timeframes and Higher

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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.
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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)
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