TTM Scalper Alerts [SystemAlpha]

24 Agu 2020

This is an alert companion of the TTM Scalper Strategy based on TTM scalper indicator. Instead of using just the normal buy and sell signal, we added an option to use trend filters, trailing stop loss and take profit targets.

The TTM scalper indicator of John Carter’s Scalper Buys and Sells was originally created by HPotter and is a close approximation of the one described in his book Mastering the Trade.

In this study you have a choice of:

Trend Filters:
- Average Directional Index ( ADX ) – buy when price is trend is up and sell when trend is down.
- Moving Average (MA) – buy when price close above the defined moving average and sell when price close below moving average
- Parabolic SAR – buy when SAR is above price is above price and sell when SAR is below price.
- All - Use ADX , MA and SAR as filters

For MA Filter , you can use the “TF MA Type” and "TF MA Period" parameter to select Simple or Exponential Moving Average and length.

Stop Loss:
- Average True Range (ATR) – ATR % stop as trailing stop loss.
- Parabolic SAR ( SAR ) – Parabolic SAR adapted as trailing stop loss.

For ATR , you can use the “ATR Trailing Stop Multiplier” parameter to set an initial offset for trailing stop loss.

Take Profit Target:
- Average True Range (ATR) – ATR % stop as trailing stop loss.
- Standard % – Percent as target profit

For ATR , you can use the “ATR Take Profit Multiplier” parameter to set an initial offset for trailing stop loss.

Additional feature include:
- Show Bar Colors

Alerts:
When creating alerts use “Once Per Bar Close” parameter for Long and Short and “Once Per Bar” for Close, Trailing Stop, and Take Profit.

TradingView Links:
Strategy:

Reference:
HPotter TTM scalper indicator Strategy

How to use:
1. Apply the script by browsing through Indicators --> Invite-Only scripts and select the indicator
2. Once loaded, click the gear (settings) button to select/adjust the parameters based on your preference.
3. Wait for the next BUY or SELL signal to enter the trade!

Disclaimer:
The indicator and signals generated do not constitute investment advice; are provided solely for informational purposes and therefore is not an offer to buy or sell a security; are not warranted to be correct, complete or accurate; and are subject to change without notice.

7 Sep 2020

Catatan Rilis

Updated Alert condition to close orders

8 Sep 2020

Catatan Rilis

Updated Alerts logic