461# Free scalping indicator system

Free scalping indicator for intraday trading

Free scalping indicator system is a trend following trading system for intraday trading. The author is Karl Dittman Dittman. On line there are various setup of this system.

Time frame 1 min, 5 min. 15Min.

Markets currecncy pairs (majors) and Indicies.

IMPORTANT RULES - How to use the signals

- Identify a current trend. (Remember? Trend is your

friend?)

- Ignore all signals against a current

trend! Example:

Trend is up – but you get a “sell” signal ( ignore it!)

- Wait for a “buy” signal to enter. This is the most

important rule #1, if you follow it – you will have no

losing trades at all.

- The most important rule #2: do not trade and do not use

the indicator on a side trend. This is “MUST follow”

rule#2.

If you DON’T follow or ignore the rules above – good results are

not guaranteed!

Entering Trades

The Free Scalping Indicator generates trades it changes colors.

To use the Free Scalping Indicator © to generate signals:

Long trades occur when the Free Scalping Indicator

changes color from Red to Yellow. (Red to Green) (ZERO line crosses depends by indicator in the folder there are two versions)

Short trades occur when the Free Scalping Indicator

changes color from Green to Red. (ZERO line crosses depends by indicator in the folder there are two versions)

Place your stop loss 5 pip below the previous candle

For long trades

Place your stop loss 5 pip above the previous candle

For short trades.


Exit trades when the Free Scalping Indicator Indicator issues the opposite

trading signal. This ensures that you trade with maximum profits and right

before the market reverses.

Another exit mechanism which is highly effective is to exit near strong support

or resistance levels. It is a method that generates exits earlier, so you take

profits early.

Place your stop loss 5 pip below the previous candle

For long trades

Place your stop loss 5 pip above the previous candle

For short trades.



Tips-IMPORTANT: Make sure to trade only follow a currect trend! It will cut ALL

bad trades! Never place a trade against a trend.

Example: If the current trend is up and the indicator

shows “BUY” signal – place a trade.

If the current trend is up and the indicator

shows “SELL” signal – NO TRADE! Wait for the next “BUY” signal…

Stay away from using the signals and open trades on unclear trends or side

trends.

In the pictures Free scalping indicator system in action.

 Free scalping indicator system in action. V1
Free scalping indicator system in action. V1
Free scalping indicator system in action. V2
Free scalping indicator system in action. V2
Free scalping indicator system in action. V1 an V2 in the folder.
Free scalping indicator system is a trend following trading system for intraday trading. The author is Karl Dittman Dittman. On line there are various setup of this system.
Free scalping indicator system.rar
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Write a comment

Comments: 5
  • #1

    jeje (Wednesday, 13 May 2015 04:09)

    always the same point... "Trade with the trend" please please please... stop saying this if you don't describe how you identify the trend!!!!

  • #2

    Ron (Sunday, 17 May 2015 23:13)

    Hi Jeje, Lower low for a downtrend and Higher high for a uptrend.... Ok I know you know that to enter a trade
    I' m making a living with the forex since some months already, happy to help if needed .
    You need to have clear mental pattern in your head, the rest it is money management and 5% of technique ...

  • #3

    DaddyC (Tuesday, 21 July 2015 05:47)

    Hey jeje! (sorry this is long everyone)
    I know it may sound like a big load of fancy BS, but yes… Trade with the trend (overall same direction) and pay attention to larger timelines (1MN>1WK>1D>12H>4H>2H>1H>30M>15M>5M>tick) EX: You’re looking at a 5 minute chart and you see the direction start moving up! yay… but wait.. you look at the 15 or 30Min and you see that little up swing on the 5Min is likely to run right into a wall that they ran into before; (AKA a resistance level similar to the most people want to pay) and reverse to go back down! sit back and watch the run head first :) One day you’ll get a chuckle at it. So in this example, it may be best to pass buying and wait for them to hit the wall. :)

    One indicator that helped me when i first started is one that simply places a red dot or blue dot at the top and bottom of trends to help you familiarize yourself what these can look like. They are not always a nice pointy arrow. There are indicators that do this i just don’t remember the name of the one i used. Hope this helps and good luck with all of your future riches! Don’t forget about us little people. hehe

  • #4

    pumesz83 (Friday, 05 August 2016 21:03)

    Hi bros! U can to change the period higher ir lower. Higher period shows the actually trend. Lower shows the enrty signal. Bye

  • #5

    Jeje (Wednesday, 14 September 2016 03:17)

    Hi Guys, I just see some replies to my initial comment about the trend...
    Funny to see the same answer ... which is not an answer...
    to be clear:
    how do you differentiate a trend from a reversal or a range?
    I can see an upper "trend" which in fact is a range or a reversal... so... its NOT a trend.
    so when I see "trade with the trend" this mean absolutly nothing until the trader describes how the "trend" shoudl be identified for his specific system and when to say "the trend is over"

    Also, what is a "start moving up"? is 2 upper low enough? or 3 or 5 or 10?

    In the first screenshot here, we can see a sell signal on top of the chart, why there is no sell signal at the bottom when the candles were in the same pattern so in a "down trend"? (just before the first buy)

    So please, explain the saint graal of the trend :-)
    Because if it so easy to identify a trend, there is no need to anything else... personaly I tried, but without a good success, too many times the trend didnt follows the trend I'm seeing...