Buy/Sell Arrow Scalper indicator by Karl Dittmann

 

By // buysellarrowscalper.com
        Karl Dittmann

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Important Rule #1:
Do not use this scalping indicator on a flat market! Use the indicator ONLY at active market hours – for example London session, US session. Trend will not be noticeable on a weak market (night time, Christmas period, other holidays etc…) keep reading and I will explain everything… 

Important Rule #2:
- Identify a global trend. (Remember? Trend is your friend?) 
– Ignore all signals against a current GLOBAL trend!
– Try using the informer to find out how strong the current trend is.
 
Example:
Global trend is up – but you get a “sell” signal (It’s better to ignore it and wait for a “buy” signal to enter)
This is the most important rule, if you follow it you will have almost no losing trades at all. Often signals that are against the global trend win as well. However, entering these trades might be more risky, than trading with the direction of the trend. 
Important Rule #3:
The next highly important rule: Do not trade and do not use the indicator on a sideways trend. This is a “MUST follow” rule.
If you DON’T follow or ignore the rules above – good results are NOT guaranteed! 
 
Stop Loss :
 Place your stop loss according to the popup alert SL. In most trades stop loss is usually calculated with this formula: Previous bar high or low + spread + extra number of pips. You can adjust the Stoploss in the indicator INPUTS.
 
IMPORTANT: Set stop loss for ALL your trades and DO NOT deviate from it.
Once the trade has touched your stop loss, be disciplined and close the trade. This will protect you from major capital losses.