Waddah Attar Scalping indicator
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Questions.....
Have you actually traded with this one.... and what indicators or confirming tools did you use along with this one. I am asking that just to get an idea as to how you would approach implementing this.... I will download it and use a couple oscillators and also perhaps a macd histogram... and if I see any great things I will upload a chart. Thanks for posting this. daveM |
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I am attaching a chart with the indicator and CCI 14,6.....
What I noticed is that the indicator is very big user of system resources... it would be difficult to have a lot of charts open with this indicator..... I guess it has some use as far as marking the trend, but to scalp, I think there are far more entries and exits than what the indicator shows...... my conclusion is that a person would use it only as perhaps a confirmation, not as a primary indicator, and that it is not really necessary for someone experienced with an oscillator for trading. daveM |
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How long have you traded with it?
Results? Thanks for sharing. I'll program an EA for it and keep you updated.
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indicator's value
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Hello traders
I find Waddah's scalping indicator interesting. I want to make a system to scalp Eur/usd in 5min charts. I open two tickets: Stop loss 20 pips,profit of first ticket 20 pips and the second one to run if there is a big move, maximum 3 times the risk,or 60 pips. I see that it signals 3-4 trades a day, or more in sideways markets, but as i see Forex market...there are usually two big moves,one in Europe,one in first 2-3 hours of US timezone, so perhaps we can deny other signals. I would like to properly backtest it, but it cant print bars more than a few days worth of data. Its blank after that. I checked the code at metaeditor but i dont know what to edit to make it print more. Can someone help? Also, has someone find a indicator based filter, for the false signals? Although for scalping i think that only support/resistance has any meaning... Xander Moss Last edited by Xander Moss : 03-24-2010 at 06:31 PM. |
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