Parabolic trend scalper

This is based on a well known 5 min forex scalping strategy that analyses the general trend and goes long/short in that direction. Trades are filtered against a number of fundamentals to minimise the chances of weak signals.

Dark green = Upward trend
Light green = Long signal
Dark red = Downward trend
Light red = Short signal

Alerts are built in and should be set to 'once per candle' if trading with a bot. Ensure that your setup ignores alerts for positions already open in the same direction.

Release Notes

Added alert labels to make entries clearer

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

colinmck

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.

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

colinmck