91# Trend Scalp Indicator
Breakout Method
Submit by Joy22
Trend Scalp is a complex indicator based on the Commodity Channel Index for scalping and day trading but it can also be used on other time frames but with the right setup. Here I show a breakout setup for the 15 minute and 5 minute time frames. The method I chose to interpret the indicator is the breakout.
Metatrader 4 indicators
Trend Scalp (t3 period 2.2 the remaining default parameters);
Autopivot indicator.
DoubleCCIWoddy (14, 50), The Trend is up when there are green bars the momentum of the trend up weakens when the CCI 14 falls below zero while there are still green bars (and vice versa for the
trend down with red bars and yes weakens when the CCI is greater than zero.
Trading Rules
Buy
Signal 1
Trend Scalp buy arrow
CCI 14 > CCI 50;
Signal 2
Trend Scalp buy arrow
CCI 50 green bar CCI 14 >0.
Sell
Signal 1
Trend Scalp sell arrow
CCI 14 < CCI 50;
Signal 2
Trend Scalp sell arrow
CCI 50 red bar CCI 14 <0.
Note:When the Scalp Trend arrow appears, if the conditions are met, enter immediately.
Exit position
Place stop loss on the previous swing high/low.
Profit Target ratio stop loss 1:1 or at the pivot points levels.
This is a winning strategy with an estimated profitability greater than 66%.
Money Management proposed fixed 2% or 1%.
Write a comment
satrio (Friday, 07 December 2012 03:53)
Where's PipBroker Indikator?? Where I can find it??