TheSocialCryptoClub

Scalping The Bull Indicator

Name: Scalping The Bull Indicator

Category: Scalping, Trend Following, Mean Reversion.

Timeframe: 1M, 5M, 30M, 1D depending on the specific technique.

Technical Analysis: The indicator supports the operations of the trader named "Scalping The Bull" which uses price action and exponential moving averages.

Suggested usage: Altcoin showing strong trends for scalping and intra-day trades. Trigger points are used as entry and exit points and to be used to understand when a signal has more power.

It is possible to identify the following conformations:
  • Shimano: look at the price records of a consecutive series of closings between the EMA 60 and the EMA 223 when a certain threshold is reached. Use the trigger points as price structures to identify entry and exit zones (e.g. breakout of the yesterday high as for entry point) .
  • Bomb: look at the price registers a percentage variation in a single candle, greater than a threshold such as 2%, in particular on shorter timeframes and around the trigger points.
  • Viagra: look at there is a consecutive series of closes below the EMA 10.
  • Downward fake: look when, after a cross under (Death Cross), the price returns above the EMA 223 using the yesterday high as a trigger point.
  • Emergence: look at the EMA 60 is about to cross over the EMA 223.
  • Anti-crossing: look at, after an important price rise and a subsequent retracement, the EMA 60 is about to cross under the EMA 223 but a bullish impulse brings the price back above the EMAs.
  • For Sales: look at two types of situations: 1) when the price falls by more than 10% from the opening price and around the yesterday’s low or 2) when the price falls and then reaches, in the last 5 days, a bigger percentage and then breaks a trigger point.
  • Colour change: look at the opening price of the session - indicated as a trigger point.
  • Third touch of EMA 60: look for 3 touches below the EMA 60, and enter when there is a close above the EMA 60.
  • Third touch of EMA 223: look for 3 touches when there are 3 touches below the EMA 223, and enter when there is a close above the EMA 60.
  • Bud: look at price when it crosses upwards the average 10 and subsequently at least 2 "rest" candles are between the maximum and minimum of the breaking candle.
  • Fake on EMA 10: look for the open of a candle higher than the EMA 10, the minimum of the candle lower and the closing price returns above the EMA 10..

For Stop Loss and Profit Targets consider a proper R/R depending on Risk Management, using price structures such as the low of the entering candle and a quick Position Management moving quickly the Stop-Loss at Break-Even.

Configuration:
Market
  • EMA: The indicator automatically configure itself on market it knows (Binance, Piazza Affari and NASDAQ) otherwise it can be configured manually fo Crypto market (5/10/60/223) or Stock Market (5/10/50/200).
  • Additional Average: You can display an additional average, e.g. 20-period average.

Chart elements:
  • Session Separators: indicates the beginning of the current session (in blue)
  • Background: signals with the background in green an uptrend situation ( 60 > 223) and in red background a downtrend situation (60 < 223).

Trigger points:
  • Today's highs and lows: draw on the chart the opening price of the daily candle and the highs and lows of the day (high in purple, low in red and open in green)
  • Yesterday's highs and lows: draw on the chart the opening price of the daily candle, the highs and lows of the previous day (high in yellow, low in red).

Credits
  • Massimo: for refactoring and suggestions.
Release Notes: General improvements :
- Calculation and optimization
- Label updates
Release Notes: General improvements:
- Better detection of EMA periods
- Shows the gaps (between orange line and green line)
Release Notes: - Updated license
- General improvements:
- Better selection of the market type
- Labels for Trigger Points

- Credits:
- AlessandroZ
Release Notes: General improvements : Input Panel

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.

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.

Want to use this script on a chart?