Based on the Ichimoku Cloud indicator, the Scalping Ichimoku is a strategy applied in a simple form.
How the strategy works? The indicator will watch two filters from the Ichimoku Cloud indicator. The first one is when the price crosses the cloud (over or under). The second filter is when the conversion line crosses the baseline (over or under). When both filters happen, no matter the order or when the indicator will print an arrow signal.
Buy Signal A buy signal, or arrow up, will appear when the price crosses over the cloud and when the conversion line crosses over the baseline.
Sell Signal A sell signal, or arrow down, will appear when the price crosses under the cloud and the conversion line crosses under the baseline.
Exit Points Show Exit Spots enabled. The indicator will print possible exit spots for the last entry, based on the cross from conversion with baseline. In case the cross is against the latest entry signal, it will show an "X"
One Signal At Time The indicator will print only one signal in a single direction. It will never print the same signal as the last signal
Exit and Entry Spot At The Same Candle In the chart, when the entry spot and an exit spot appear in the same candle, the exit spot will appear with a different color. This means that the entry spot is more accurate.
This strategy was designed for scalping, no matter the time frame or market, but it may work for swing traders as well.
Hey man - thanks for the indicator! Looking to implement an alert off the buy signals provided here - but I don't see the obvious way to set it up when right-clicking the indicator and adding alert - the options are confusing.. Do I need to add an alertcondition() for the Buy triangle ?
I believe you might have a bug in the code line 37 should be crossunder ( at present showing crossover ) and line 39 should be crossover ( at present showing crossunder). please can you double check this and confirm? thanks
Wunderbit
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Great strategy! I would like you to help me make a trading robot out of it on Wunderbit. In what timeframe is it better to automate it?
ThiagoSchmitz
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@Wunderbit, I am not familiar with Wunderbit, but higher time frames tend to be more accurate, less noisy
Shrekfx
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Loving thes indicator on the 1-3 and 5minute chart! Is there anytway posible to tweak the settings to get less false signals? --> buy and other second sell or otherwise.. all in all, very good en very easy to use!!!
godugotijayaram
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Can you please tell, will this indicator repaints or not???
akmaha
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Thanks for great work. It will be better to convert this into strategy to check the backtest result.
magedmagdyyy
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how can i get alert for entery, pls
naveen12
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how to get this indicator? its not showing up in the indicator search list