This indicator I thought after a while of research and decided to code for people that wants to scalp on low time frames. It's recommended to use it in 1 to 5 min timeframes. It uses ATR, Past high and lows and stochastic overbought and oversold zones along with some consolidation code to avoid fast swings. I also added Take Profit and Stop Loss signals based on slow ATR values. I may add more features later on if people find it useful.
Release Notes:
v1.1: Fixed some text errors on tooltips.
Release Notes:
v1.3: Added New Features
Show Only Long or Short Signals: You can enable or disable the side you want signals to show up.
Volatility Tightness: Raising this value will try to avoid signals if volatility is too high. Based on a ADX indicator but a bit modified.
Choose if you want to show ATR Warnings. Enabled by default.
Draw trend ready line at the bottom of the chart to see how your settings effect when it's allowed to enter. Disabled by default.
Happy trading!
Show Only Long or Short Signals: You can enable or disable the side you want signals to show up.
Volatility Tightness: Raising this value will try to avoid signals if volatility is too high. Based on a ADX indicator but a bit modified.
Choose if you want to show ATR Warnings. Enabled by default.
Draw trend ready line at the bottom of the chart to see how your settings effect when it's allowed to enter. Disabled by default.
Happy trading!
Release Notes:
1.3a: Fixed a possible repainting issue. Now way more stable in that regard.
Release Notes:
v1.3b: Fixed an urgent bug.
One does not simply win every trade.