I came across a video showing a concept of short term scalping. The basics are as follows-
1. It is called entry/ exit lines. I am trying to figure out how they are calculated. I originally thought they were 5 period EMA lines calculated using the highs for exit, and lows for entries, but I no longer think that is the case. The theory is you use a filter indicator (in my case I am using a proprietary indicator called TOP Fibonnaci Composit. Since it is proprietary I am not sharing that here, but I want to use it as a filter-green and above zero-Only take buys when the entry line is touched and vice versa for sells
2, I have included a screenshot of the setting which should help figuring out how it is calculated. It appears to be a function of ATR. Any thoughts or opinions?
What I would like to accomplish is figure out how the lines are calculated and make an indicator replicating the lines. I have included a screenshot of what lines look like on chart and the setting tab. The original indicator has a toggle for buy/sell/both. That would be helpful, but not necessary. Thanks in advance for any help given.
1. It is called entry/ exit lines. I am trying to figure out how they are calculated. I originally thought they were 5 period EMA lines calculated using the highs for exit, and lows for entries, but I no longer think that is the case. The theory is you use a filter indicator (in my case I am using a proprietary indicator called TOP Fibonnaci Composit. Since it is proprietary I am not sharing that here, but I want to use it as a filter-green and above zero-Only take buys when the entry line is touched and vice versa for sells
2, I have included a screenshot of the setting which should help figuring out how it is calculated. It appears to be a function of ATR. Any thoughts or opinions?
What I would like to accomplish is figure out how the lines are calculated and make an indicator replicating the lines. I have included a screenshot of what lines look like on chart and the setting tab. The original indicator has a toggle for buy/sell/both. That would be helpful, but not necessary. Thanks in advance for any help given.
