The best indicators for scalping on short timeframes
Usually, when starting trading using the scalping strategy, the question immediately arises about entry points.
here , since it is necessary to take into account not only the trend movement, but also the resulting rollbacks.
In this matter, you can trust your intuition or trade based on visual analysis, but the greatest effect is provided by scalping indicators; they allow you to make short-term trading more effective.
Scalping indicators are technical analysis tools that work correctly on the shortest time frames and provide signals to enter the market.
Their most effective use is noted on such frames as M5 and M15; when trading on M1, it is technically difficult to use indicators, but still possible.
The most suitable indicators for short-term scalping
Stochastic Oscillator.
The well-known tool is the Stochastic oscillator, which allows you to find convenient entry points based on overbought and oversold zones. This script has been added by default to the metatrader trading platform for more than 10 years, which allows you to use it without additional effort:
Stochastic works great on any time frame, so it is ideal for scalping.
Moreover, immediately after adding a currency pair or other asset to the chart, it is already ready to work and does not require additional settings. download the stochastic and at the same time get complete information on its use using the link provided.
Arrow indicator
It is also great for both scalping and pipsing; to use it, you just need to download the tool, install it on the chart and wait for the arrows to appear on the desired time period, in our case M1, M5, M15:
Moreover, the appearance of an arrow pointing in the opposite direction from an open transaction can also serve as a signal to close an earlier position in the opposite direction.
Download the dial indicator to learn more about it.
Channel forex
In principle, not only this option is suitable, but also any other script that determines the price channel, the main thing is that it clearly defines the support and resistance lines, trading is carried out according to the general principle, regardless of the duration of the time period:
Buy at the lower line of the channel and the beginning of the upward movement, sell at the upper line and the beginning of the downward movement.
This scalping indicator is a little more complicated than the previous options, but also gives good results. Download channel forex to get acquainted with its description and basic settings.
Not all brokerage companies welcome short-term transactions, and some even limit the maximum permissible number of orders. scalping brokers for such trading .
If you wish, you can try using other Forex indicators for scalping trading, but do not forget to correctly set the time period and do not use a long history for analysis when working with the selected instrument.