If you like to trade or scalp on the shorter time frame such as the 2m, 5m, and 15m, this indicator is for you. The Scalper indicator generates buy and sell signals based on the Bollinger Bands, Stochastic Full, RSI, MFI, and IMI (Intraday Momentum Index).
Credit:
thinkScript Code
Rich (BB code):
# Scalper
# Drew Griffith
#hint: Intraday Day mean reversion strategy. Used on 2min charts.
declare upper;
input price = close;
input BBlength = 12;
input FSOkperiod = 10;
input FSOdperiod = 6;
input FSOslowingperiod = 6;
input FSOob = 80;
input FSOos = 20;
input RSIlength = 12;
input RSIob = 70;
input RSIos = 30;
input MFILength = 12;
input MFIob = 80;
input MFIos = 20;
input IMILength = 12;
input IMIob = 70;
input IMIos = 30;
def BBupper = BollingerBands(length = BBlength).UpperBand;
def BBlower = BollingerBands(length = BBlength).LowerBand;
# StochasticFull
def FSO = StochasticFull("k period" = FSOkperiod, "d period" = FSOdperiod, "slowing_period" = FSOslowingperiod);
def RSI = RSI(length = RSIlength);
def MFI = MoneyFlowIndex(length = MFILength);
def IMI = IntradayMomentumIndex(length = IMILength);
plot bullish = close <= BBlower and RSI <= RSIos and FSO <= FSOos and MFI <= MFIos and IMI <= IMIob;
plot bearish = close >= BBupper and RSI >= RSIob and FSO >= FSOob and MFI >= MFIob and IMI >= IMIos;
#plot RATING = if bullish then 1 else if bearish then .5 else 0;
bullish.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullish.AssignValueColor(Color.GREEN);
bearish.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bearish.AssignValueColor(Color.RED);Shareable Link
https://tos.mx/AkH2okCredit:
Video Tutorial
Last edited:
.
