Custom Scalping Indicator with Volume Spikes

30 gru 2024

Custom Indicator using AI by AVM

This is a beginner-friendly custom trading indicator designed for short-term scalping strategies on platforms like TradingView. It is tailored to work on 1-minute, 3-minute, 5-minute, and 15-minute timeframes, providing clear Buy and Sell signals based on momentum, trend, and volume spikes.

Key Features:
EMA Crossovers:

Uses two Exponential Moving Averages (EMAs) to identify short-term trend changes.
A Buy Signal is generated when the shorter EMA crosses above the longer EMA.
A Sell Signal is generated when the shorter EMA crosses below the longer EMA.
RSI (Relative Strength Index):

Helps identify overbought and oversold conditions.
A Buy Signal is reinforced when RSI is below a specified level (e.g., 30).
A Sell Signal is reinforced when RSI is above a specified level (e.g., 70).
Volume Spike Detection:

Detects sudden increases in market activity by comparing the current volume to the average volume.
Only generates signals when significant volume spikes occur, ensuring trades align with strong market interest.
Visual Signals:

Green arrows below candles indicate Buy Signals.
Red arrows above candles indicate Sell Signals.
Volume spikes are plotted in the volume chart below, highlighted for easy identification.
Customizable Inputs:

Adjust EMA lengths, RSI levels, and volume spike sensitivity to suit your trading style.
How to Use:
Timeframes: Best suited for short timeframes like 1-minute, 3-minute, 5-minute, and 15-minute charts.
Buy/Sell Decision:
Enter a Buy when a green arrow appears (confirming EMA, RSI, and volume spike alignment).
Enter a Sell when a red arrow appears (confirming the same conditions for selling).
Profit Targets:
Use predefined small profit targets (e.g., £15, £30, £50) and stop-losses based on volatility.

30 gru 2024

Informacje o Wersji

Indicator Description: Custom Scalping Indicator with Volume Spikes
This is a beginner-friendly custom trading indicator designed for short-term scalping strategies on platforms like TradingView. It is tailored to work on 1-minute, 3-minute, 5-minute, and 15-minute timeframes, providing clear Buy and Sell signals based on momentum, trend, and volume spikes.

Key Features:
EMA Crossovers:

Uses two Exponential Moving Averages (EMAs) to identify short-term trend changes.
A Buy Signal is generated when the shorter EMA crosses above the longer EMA.
A Sell Signal is generated when the shorter EMA crosses below the longer EMA.
RSI (Relative Strength Index):

Helps identify overbought and oversold conditions.
A Buy Signal is reinforced when RSI is below a specified level (e.g., 30).
A Sell Signal is reinforced when RSI is above a specified level (e.g., 70).
Volume Spike Detection:

Detects sudden increases in market activity by comparing the current volume to the average volume.
Only generates signals when significant volume spikes occur, ensuring trades align with strong market interest.
Visual Signals:

Green arrows below candles indicate Buy Signals.
Red arrows above candles indicate Sell Signals.
Volume spikes are plotted in the volume chart below, highlighted for easy identification.
Customizable Inputs:

Adjust EMA lengths, RSI levels, and volume spike sensitivity to suit your trading style.
How to Use:
Timeframes: Best suited for short timeframes like 1-minute, 3-minute, 5-minute, and 15-minute charts.
Buy/Sell Decision:
Enter a Buy when a green arrow appears (confirming EMA, RSI, and volume spike alignment).
Enter a Sell when a red arrow appears (confirming the same conditions for selling).
Profit Targets:
Use predefined small profit targets (e.g., £15, £30, £50) and stop-losses based on volatility.
Ideal For:
Scalpers seeking quick profits in high-momentum markets.
Traders who want clear, actionable signals without overwhelming complexity.
Beginners looking to enhance their trades with trend, momentum, and volume analysis.