This indicator is designed for low timeframe scalping (1m-1h) to help you filtering the noise Educational Content Only! Please be aware of the risk of lower timeframe scalping.
Features: - Dynamic Overbought and Oversold Zones - Identify bullish / bearish trends - Helps as confluence to spot reversals and pullbacks - Automatic Divergence Detection (can be turned off in the settings) - Set Alerts for Divergences, Colour Changes, Reversals etc
How to use this Indicator: (Refer to chart image above) - to identify Reversals: Small spikes out of the upper lower bands can be used as reversal points (used as confluence) - to identify Trends: Scalper Line above MA indicates short term uptrend (coloured in green) vice versa. - to identify possible breakouts: Band squeeze for several candles followed by an impulsive breakout outside of the bands. (used as confluence)
Indicator Settings: This indicator is working great on low timeframes especially the 1minute to 5minute timeframe with basic settings.
Feel free to contact me if you have any questions on how to use this indicator and I will be more than happy to explain :)
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Bug Fix within Indicator Settings
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Update Chart Image
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SCALPER PRO V2
Squeeze Detection (35 Seems to work the best so far)
More & Advanced Alerts
Information Button right next to the each Setting
Optimised Code
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Added Dynamic Support and Resistance Area's (Good Settings between 100-1000) Added Candle Colouring based on Scalper Bands and Scalper Line More Alerts