OPEN-SOURCE SCRIPT
15min & 5min Scalping Ribbon
Open-source replication of Annii's Ribbon:
tradingview.com/v/JvAOl84K/
Not quite 100% pixel perfect but very close, with the same functionality for detecting possible trend changes.
Ribbon Scalp Strategy
TF: 5-15 mins
When to enter long:
Wait for whole ribbon to turn green then enter long
Once in the trade watch the outer 3 lines. If they start to spread away from the others, that’s a sign that a pullback is coming so ether exit or move your stop into profit to protect it
When a pullback happens, watch the yellow band for a bounce. If it bounces off, stay in trade. Cross below, could be reversal sign so get out. When moving stops throughout the trade, use the yellow band as a guide to know where to move stop too, placing it just below the line.
There are two yellow MAs. When you start your session, look left to see which one has been acting as support for the past few hours and go with that one.
As long as it stays above the yellow, you can stay in the trade. Again exit, when outer bands start to widen.
Short - everything above in reverse.
What not to do:
Do not try to pick a reversal early when you start to see one or two bands turn red - this does not mean a reversal is coming! It could just be a pullback before continuing long.
tradingview.com/v/JvAOl84K/
Not quite 100% pixel perfect but very close, with the same functionality for detecting possible trend changes.
Ribbon Scalp Strategy
TF: 5-15 mins
When to enter long:
Wait for whole ribbon to turn green then enter long
Once in the trade watch the outer 3 lines. If they start to spread away from the others, that’s a sign that a pullback is coming so ether exit or move your stop into profit to protect it
When a pullback happens, watch the yellow band for a bounce. If it bounces off, stay in trade. Cross below, could be reversal sign so get out. When moving stops throughout the trade, use the yellow band as a guide to know where to move stop too, placing it just below the line.
There are two yellow MAs. When you start your session, look left to see which one has been acting as support for the past few hours and go with that one.
As long as it stays above the yellow, you can stay in the trade. Again exit, when outer bands start to widen.
Short - everything above in reverse.
What not to do:
Do not try to pick a reversal early when you start to see one or two bands turn red - this does not mean a reversal is coming! It could just be a pullback before continuing long.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.