greenmansoup

Scalper's Paradise Tool For NQ

This powerful scalping tool was specifically designed for NQ and MNQ. Scalper's Paradise adds buy and sell signals to the chart using a proprietary blend of confluence trading principals that are incredibly accurate. Many of the settings can be customized for uses on higher time-frames and different markets. Along with the buy and sell signals, this indicator offers weakness signaling (seen as dots on the chart), along with potential exit points marked as 'EX' on the chart over a diamond shape.

How To Use:
  • This indicator is designed for intra-day scalping. When a buy or sell signal is marked on the chart, it's safe to enter a position. Exit the position when you see weakness in the trend or where the EX (exits) are marked.
  • The Trend Cloud offers great visibility for trend strength and overall volatility and can be used in conjunction with the entries and exits for added confidence that your trade is a worthwhile trade.
  • The red and green backgrounds on the chart are a filtering tool designed to save you from trades that otherwise don't carry enough momentum to be worth entering the market. This part of the indicator has 3 major adjustable settings that allow you to truly dial in your risk.

Identify momentum areas and trade with confidence using Scalper's Paradise!
  • Trend Cloud for momentum and confidence
  • Buy and Sell Signals
  • Marked Exits and Trend Weakness dots on the chart
  • ADX Based Clean Trade Filter allows for full customization of your trading risk profile. This part of the indicator will SUPPRESS any and all signals while the chart's background is red.
  • The Safer Trades Filtering in the settings allows further confidence by suppressing riskier trade signals

Limitations:
This script does not mark reversals. It will only identify safe trade zones during periods of strong momentum.

Disclaimer:
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

My scripts/indicators/strategies/ideas are only for educational purposes!
Release Notes: This update includes added function of Enhanced Bar Color which allows the same trend cloud controls to adjust the coloring of the bars based on trend direction. Use this to clean up the chart when using other trend indicators in addition to Scalper's Paradise or just in case you like using bar color instead of Trend Cloud.
Release Notes: This newest update completes the bar coloring feature with added functions to match wicks and outlines to enhanced bar coloring. You will need to turn off wicks and outlines in the chart settings for the update to work properly.

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact greenmansoup for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Author's instructions

This invite only script can be purchased for use for a one-time fee. Please contact me through TradingView to get access.

Want to use this script on a chart?

Warning: please read before requesting access.