Scalperstool v1.0_Ramesh0296

Scalperstool v1.0
This indicator can use for scalp in Highly liquid stocks,indices and currencies

What here i used ?

Here i used Bollinger bands with Modified Relative Strength Index (n=2)

How to use it ?

Apply scalperstool v1.0 in chart

Time frame 1min

once you applied 3 lines will plotted on chart but the value dimensions shows 4 value in top left side on the chart
first 3 values related to bollinger bands(here i used it for dynamic support and resistance). the last value shows modified RSI value

CONDITIONS
CONDITION 1

1 min candle should close and it must showing below value

safe Players

Buy condition (too safe) : RSI value should be less than or equal to 3
Sell condition (too safe) : RSI value should be greater than or equal to 97

Moderate Risk takers

Buy condition : RSI value should be less than or equal to 10
Sell condition : RSI value should be greater than or equal to 90

Most of the time the value above mentioned equals to bollinger upper band(overbought) and lower band(oversold) zones


CONDITION 2
May scalp alone with 1st condition but my favorite is i combined above condition with this one

This is too simple that 1 min candle should close with long upper wick or long lower wick & mostly its open equals to high looks like a hammer but not exact one.

I flag some good trades in chart.

STOP LOSS SHOULD BE ENTRY CANDLE'S PREVIOUS ONE LOW OR HIGH.
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LIKE & FOLLOW TO SHOW YOUR LOVE & SUPPORT AND ALSO TO GET MORE TRADE IDEAS AND SCRIPTS


**Educational Purpose only