PACMAN Scalper

PACMAN Scalper is the "price action correlator" (PAC) dashboard indicator, which is an excellent assistant for trading Forex, as well as trading indices, such as the US30, DE30 and other single instruments on small timeframes. This trading tool also features multipair options for observing correlated or "TRIAD" price action based Forex, such as EURUSD/EURJPY/USDJPY. The indicator performs multiple timeframe calculations taking into account the Open, High, Low and Close to display trend and volatility on small timeframe charts, such as M1.

With visual attributes and arrow signals, you can explore how you can apply PACMAN to your current scalping strategies and systems. Some other possibilities of PACMAN Scalper are finding breakouts, trend movements and trend reversals. It is also possible to couple this indicator with Renko and tick chart strategies. It is encouraged to use this indicator with other ones in order to optimize signal validation. The indicator integrates the dashboard feature, so it visually lends itself to supporting the skills required by scalpers, such as nimbleness and surgical entry and exit practices.

Features

• Single, double or triple instrument/pair option
• Allows most symbols including Forex, indices, shares, gold, oil and more 
• Renko or Tickchart offline chart option
• Color level or numeral level setting
• Co-efficient settings options for each timeframe
• Arrow alert
• Push, email, popup notification
• Multiple indicators on the same charts   

Snapshots are from live charts. However, they may or may not have been tradeable. Not all signals are tradeable and must be considered within a market trading context.

1. XAUUSD/XAGUSD - positive correlation setup - lower dasboard M1 and M5 bars' congruent color activates the sell arrows on the dashboard
2. Example of EURUSD, EURJPY and USDJPY "triad" trading setup showing congruence of EURUSD, USDJPY giving sell signals on EURUSD M1 chart
3. XAUUSD/XAGUSD M1 chart displaying positive correlation short signal - short arrow has been displayed after lower dashboard M1 and M5 bars congruent color activates the sell arrows on the dashboard
4. AUD200 index - clear good size dashboard is displayed as a good yet unobtrusive visual tool
5. XAUUSD/XAGUSD - M1 chart displaying positive correlation long signal - long arrow has been displayed after lower dasboard M1 and M5 bars congruent color activates the sell arrows on the dashboard
6. Progression of signals for DE30 on the M1 chart showing dashboard signals and arrow alerts on charts
7. Progression of signals for DE30 on the M1 chart showing dashboard signals and arrow alerts on charts
8. 2 visual snapshots of the indicator basic settings parameters and functions
9. 2 visual snapshots of the indicator basic settings parameters and functions
10. EURUSD M1 chart is an example of the short arrow signals painted on charts based on the indicator settings. Notice the dashboard display shows a blue horizontal "M1" bar, perhaps a sign of a potential retracement or reversal

Parameters

The large diversity of settings parameters allows for creative approaches by the trader. Parameters can be varied between two dashboards on the same chart to display market fluctuations visually, as well as arrow alerts on the charts. View the 2 visual snapshots of the indicator parameters and settings functions to obtain an idea of the options and variations of the indicator settings. 

Please use demo chart first in order to become familiar with this indicator. If scalping is your trading preference, PACMAN Scalper might become a very useful ally. 

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