Here is the first scalping indicator from marketcalls called iTrend inspired from WA scalping indicator for Metatrader. iTrend Scalping indicator takes inputs two timeframes and finally displays the iTrend values in the higher timeframes.
iTrend indicator is show above in the nifty future charts where the inputs are taken from 1min and 3min and finally the iTrend values are shown in 3min charts (Higher timeframe) those parameters can be find here in the afl code.
one can try experimenting with various timeframes by changing the P1 and P2 values. P1 and P2 values can also be set by the user by right click over the iTrend indicator and select parameters. It is always preferred to play with lower timeframe i.e less than 5min.
Rules to play iTrend
1)Buy if itrend Shows two consecutive Green Bars after a Red bar
2)Sell if iTrend shows two consecutive Red Bars after a green bar.
3)No iTrend Bars means continuation of older trend.
FAQ for iTrend Scalping
Can i test the indicator for Higher Timeframe?
What is the accuracy of the Trading System?
That exercise is left to the amibroker user to find it out.
Indicator is showing perfect signals. Does whipsaws possible here?
Yes Whipsaws are possible in iTrend
Will this indicator works for Daily Timeframe
No the indicator is not designed for Daily and Weekly Timeframes and the indicator is designed for lower timeframes especially for
How much profit i can make from this indicator?
Stop asking this dumb question rather test this indicator practically this indicator is not a holy grail but
but definitely a better creation than the existing indicators.
put your genuine questions about the indicator to know more the nature of the indicator in the comment section.