Scalper's Paradise Tool For NQ

14 nov 2021

This powerful scalping tool was specifically designed for NQ and MNQ. Scalper's Paradise adds buy and sell signals to the chart using a proprietary blend of confluence trading principals that are incredibly accurate. Many of the settings can be customized for uses on higher time-frames and different markets. Along with the buy and sell signals, this indicator offers weakness signaling (seen as dots on the chart), along with potential exit points marked as 'EX' on the chart over a diamond shape.

How To Use:

• This indicator is designed for intra-day scalping. When a buy or sell signal is marked on the chart, it's safe to enter a position. Exit the position when you see weakness in the trend or where the EX (exits) are marked.
  
• The Trend Cloud offers great visibility for trend strength and overall volatility and can be used in conjunction with the entries and exits for added confidence that your trade is a worthwhile trade.
  
• The red and green backgrounds on the chart are a filtering tool designed to save you from trades that otherwise don't carry enough momentum to be worth entering the market. This part of the indicator has 3 major adjustable settings that allow you to truly dial in your risk.
  

Identify momentum areas and trade with confidence using Scalper's Paradise!

• Trend Cloud for momentum and confidence
  
• Buy and Sell Signals
  
• Marked Exits and Trend Weakness dots on the chart
  
• ADX Based Clean Trade Filter allows for full customization of your trading risk profile. This part of the indicator will SUPPRESS any and all signals while the chart's background is red.
  
• The Safer Trades Filtering in the settings allows further confidence by suppressing riskier trade signals
  

Limitations:
This script does not mark reversals. It will only identify safe trade zones during periods of strong momentum.

Disclaimer:
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

My scripts/indicators/strategies/ideas are only for educational purposes!

20 nov 2021

Note di rilascio

This update includes added function of Enhanced Bar Color which allows the same trend cloud controls to adjust the coloring of the bars based on trend direction. Use this to clean up the chart when using other trend indicators in addition to Scalper's Paradise or just in case you like using bar color instead of Trend Cloud.

24 nov 2021

Note di rilascio

This newest update completes the bar coloring feature with added functions to match wicks and outlines to enhanced bar coloring. You will need to turn off wicks and outlines in the chart settings for the update to work properly.

5 feb

Note di rilascio

Updated to Version 6

7 feb

Note di rilascio

Significant Updates:
1. Appearance (general and controls) - added color selector for candles and trend cloud separately.
2. Significant improvements to buy and sell signal calculations.
3. Added new adjustment inputs for buy and sell signals as well as volume checking control.
4. Added ADX/ATR based volatility bands. (were in previous version but not plotted on the chart)
5. Converted to Pine Script V6
6. Optimized default settings for NNQ 5 minute price action. Can be used on 15 minute as well.
7. ADX Background not visible by default, added input selector in settings.
8. Added trend line for visualization of slope (off by default)
9. Updated candle coloring and calculations.
10. Updated trend cloud coloring and calculations.

7 feb

Note di rilascio

Quick update to the trend cloud default appearance.

18 mar

Note di rilascio

Added alerts for webhooks and pushed new range band settings.