The TTM Scalper indicator is a day trading indicator that works on stock, Options, Futures and Forex trading markets.
TTM Scalper Indicator - A Few Key Points:
The TTM Scalper Indicator is a visual way to help determine whether to buy or sell against a pivot level.
The TTM Scalper Indicator white Paint bar marks a "pivot high" or "pivot low." This is done after 3 higher closes or 3 lower closes. The
faster the time frame, the faster the confirmation.
The TTM Scalper Indicator measures the price action when you trade market.
You can also program alerts in the Scalper Indicator for the white bars.
What is The Scalper?
The Scalper indicator identifies probable highs and lows for a charted symbol. The link below shows how the scalper alert works.
The indicator determines pivot highs and lows by using a “trigger bar”. The trigger bar is the first bar that has a higher low (or lower high) than the previous bar.
The next bar that closes above the high of the trigger bar (or low for down signals) paints the previous bar which now becomes the swing low (or high) bar and the beginning of a new swing.
Using the Scalper Indicator
The scalper indicator can be used as an entry signal.
On a longer term chart the scalper works great for selling options beyond the price of the scalper signal.
The scalper indicator is also an excellent exit indicator. If you are in a position and a scalper signal fires, you would exit your position with the expectation that the charted symbol is now in a swing to the opposite direction of your trade.
MinSwing – Can set higher to only show stronger signals Default is 0.
PivotHigh_Color – Changes the color of the pivot high signal. Default is white.
PivotLOW_Color – Changes the color of the pivot low signal. Default is white.
Scalper Alert scan in TOS