TTM scalper indicator of John Carter’s Scalper Buys and Sells. The methodology
is a close approximation of the one described in his book Mastering the Trade.
The book is highly recommended. Note the squares are not real-time but will
show up once the third bar has confirmed a reversal.
is a close approximation of the one described in his book Mastering the Trade.
The book is highly recommended. Note the squares are not real-time but will
show up once the third bar has confirmed a reversal.
//////////////////////////////////////////////////////////// // Copyright by HPotter v2.0 29/09/2014 // TTM scalper indicator of John Carter’s Scalper Buys and Sells. The methodology // is a close approximation of the one described in his book Mastering the Trade. // The book is highly recommended. Note the squares are not real-time but will // show up once the third bar has confirmed a reversal. //////////////////////////////////////////////////////////// study(title="TTM scalper indicator", overlay = true) width = input(2, minval=1) triggerSell = iff(iff(close[1] < close,1,0) and (close[2] < close[1] or close[3] <close[1]),1,0) triggerBuy = iff(iff(close[1] > close,1,0) and (close[2] > close[1] or close[3] > close[1]),1,0) buySellSwitch = iff(triggerSell, 1, iff(triggerBuy, 0, nz(buySellSwitch[1]))) SBS = iff(triggerSell and buySellSwitch[1] == false, high, iff(triggerBuy and buySellSwitch[1], low, nz(SBS[1]))) clr_s = iff(triggerSell and buySellSwitch[1] == false, 1, iff(triggerBuy and buySellSwitch[1], 0, nz(clr_s[1]))) clr = iff(clr_s == 0 , green , red) plot(SBS, color=clr, title="TTM", style = circles, linewidth = width)