Scalping formula free

The free indicator version Scalping formula free features only one instrument FEES. It is intended for stock players and Forex traders. It is never redrawn, it automatically build support and resistance levels, draws entry arrows using 4 buy rules and 4 sell rules. The main idea of the indicator is to show strong support and resistance levels, possible bounces and breakouts of the levels. The indicator marks iceberg orders by generating a sound alert.

Description of buy and sell entry rules:

• rule No. 1 for entry into a long - candlestick body and shadows do not break out the level
• rule No. 2 for entry into a long - breakout and Close below the level
• rule No. 3 for entry into a long - breakout and Close above the level
• rule No. 4 for entry into a long - resistance turns into support, breakout candlestick closes above the level
• rule No. 1 for entry into a short - candlestick body and shadows do not break out the level
• rule No. 2 for entry into a short - breakout and Close below the level
• rule No. 3 for entry into a short - breakout and Close above the level
• rule No. 4 for entry into a short - resistance turns into support, breakout candlestick closes above the level

Indicator Parameters

• alert - a sound alert
• distance - distance between the arrow and the bar
• buy - the color of the buy arrow
• sell - the color of the sell arrow
• line color
• size - the size of arrows
• line - line width
• history - history depth in bars