03.freeman

Extreme Scalping

This is a test of an easy scalping method: buy if actual close is below forecast close and sell if actual close is above forecast close. Take profit and stop loss shall be very small (few pips) as in most of scalping strategies.
No filter is used for only long or only short positions, but you can select buy only or sell only based on other indicators or whatever you feel is the direction of trading.

NOTE: you can add this strategy to your chart but you should modify the backtest day otherwise you will get an error due to calculation limits of pine script. For example, on one minute chart, you should set the backtest day from today only. For past days, set both start day and and day.

I have also a study with alarms.

Please use comment section for any feedback.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Comments

I think this wont work with commissions.
+5 Reply
coinnoz Milionario
@Milionario, True. Even at extremely low commission (0.01%) it would never work.
+3 Reply
Hi 03.freeman
Nice work! can you please share the alerts version.
+4 Reply
It says fixed tp/sl at 300 and 100, is that pips or $ movement, cheers
+2 Reply
03.freeman BitcoinBeats
@BitcoinBeats, TP and SL are in ticks
Reply
hi there , do i need to set a bracket order with TP and SL, how many ticks and doest it work on 1 , 5 min time frame? thank you
Reply
I'm sorry but it is not working. I'm testing it with DAX and it does not provide any signal.
Reply
useless
Reply
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