TTM_ScalperAlert

Description

The TTM_ScalperAlert is a great tool for runaway markets. Timing entry into a runaway market is haphazard at best and can be akin to stepping in front of a freight train. By waiting for a scalper alert to fire off, a trader can be sure that momentum has at least paused and allows an entry at a possible turning point with a precise risk reward ratio in place.

The TTM_ScalperAlert comprises two plots, Pivot High and Pivot Low. Pivot High is shown as an arrow above the first bar in a series of 3 lower Closes (Sell signal). Pivot Low is shown as an arrow under the first bar in a series of 3 higher Closes (Buy signal).

Input Parameters

Parameter Description
min swing The minimum price range between the Pivot High and Pivot Low to be interpreted as a trend reversal.

Plots

Plot Description
PivotHigh The Scalper Sell signal.
PivotLow The Scalper Buy signal.

Example*

*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

You may also like
Condition Wizard
Condition Wizard is a special feature which allows you to build up conditions or logical ...
DMI_ReversalAlerts
The DMI Reversal Alerts is a technical indicator based on crossovers of DMI Stochastic Extreme's ...
PairTradingLong
The Pair Trading Long strategy is part of Domenico D'Errico's pair trading system. By design, ...