INVITE-ONLY SCRIPT
Price change scalping short and long strategy indicator
Price change scalping Short and Long indicator uses a rate of change momentum oscillator to calculate the percent change in price between a period of time. Rate of change calculation takes the current price and compares it to a price of "n" periods while the period of time can be defined by a user. The calculated rate of change value is then compared to the upper threshold and the lower threshold values to determine if a position should be opened. If the threshold is crossed and filtering conditions are met a strategy position will be triggered. Entry, take profit, and stop loss prices are calculated and displayed on the chart as well as positions directions. Once the entry price is crossed, a long or short position is created and once the take profit price is crossed, the stop loss price will begin to trail behind the price action using the close of the previous bar. Once the trailing stop price is crossed, the position is closed. If the entry price is not crossed and the price action crosses the stop level, the trade setup is cancelled. The indicator is enhanced by DCA algorithm which allows to average entry price with safety orders. The script also allows to use Martingale coefficient to increase averaging power
Advantages of this script:
How to use?
1. Apply the indicator to a trading pair your are interested in using 5 to 60 minutes timeframe chart
2. Configure the indicator: change layer values, order size multiple and take profit/stop loss values according to current market cycle stage
3. Set up a TradingView custom alert using the indicator settings to trigger on a condition you are interested in
4. indicator will send alerts when to enter and when to exit positions which can be applied to your portfolio using external trading platforms
5. Update settings once market conditions are changed using backtests on a monthly period
Advantages of this script:
- The indicator has custom alert settings for each strategy action
- The indicator can be used with 3Commas, Cryptohopper, Alertatron or Zignaly bots
- High frequency and low duration of trades
- Can be used with short-term timeframes ranging from 5 to 60 minutes
- Indicator is sustainable to market slumps due to DCA implementation
- Can be used for short and long positions (can be adjusted to long only, short only or both)
- Can be applied to any market and quote currency
- Easy to configure user interface settings
- Built in detailed statistic menu
How to use?
1. Apply the indicator to a trading pair your are interested in using 5 to 60 minutes timeframe chart
2. Configure the indicator: change layer values, order size multiple and take profit/stop loss values according to current market cycle stage
3. Set up a TradingView custom alert using the indicator settings to trigger on a condition you are interested in
4. indicator will send alerts when to enter and when to exit positions which can be applied to your portfolio using external trading platforms
5. Update settings once market conditions are changed using backtests on a monthly period
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Skyrexio for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.
Author's instructions
″If you want to have access to the script you should contact us in personal message or send an email to info@skyrex.io
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Warning: please read before requesting access.
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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.