Description
The TTM_ScalperAlert is a great tool for runaway markets. Timing entry into a runaway market is haphazard at best and can be akin to stepping in front of a freight train. By waiting for a scalper alert to fire off, a trader can be sure that momentum has at least paused and allows an entry at a possible turning point with a precise risk reward ratio in place.
The TTM_ScalperAlert comprises two plots, Pivot High and Pivot Low. Pivot High is shown as an arrow above the first bar in a series of 3 lower Closes (Sell signal). Pivot Low is shown as an arrow under the first bar in a series of 3 higher Closes (Buy signal).
Input Parameters
| Parameter | Description |
|---|---|
min swing
|
The minimum price range between the Pivot High and Pivot Low to be interpreted as a trend reversal. |
Plots
| Plot | Description |
|---|---|
PivotHigh
|
The Scalper Sell signal. |
PivotLow
|
The Scalper Buy signal. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.