moey_dw wrote: ↑
Fri Oct 11, 2019 5:36 pm
HOW WE DO USE THIS MOMENTUM SCALPER??? LOOKS GOOD BUT DUNNO ALL THE COLORS
Why are you yelling bro?
How to use Momentum Scalper for MT4
The height and colour of the bars tells us the strength of the scalping trend.
bars represent market moves to the downside.
bars represent market moves to the upside.
bars represent ranging (quiet) markets.
bars represent the market running out of steam.
bars represent retracement is due.
chart background means the overall trend is UP (Look for entries to the upside).
chart background means the overall trend is DOWN (look for entries to the downside).
The colour of the bars will change despite the market trend shown by the chart background colour. So for instance, a red bar can appear whilst the chart background is green which indicates a short-term downtrend (or pullback) within a general uptrend.
Just like the CCI, the -100 and 100 areas are considered Oversold/Overbought.
PS: Link to the Momentum Scalper for MT4 updated by Mrtools, Momentum Scalper