The Jerusalem Line Scalper is an indicator for scalping the EURUSD, GBPUSD, AUDUSD, USDJPY, and USDCAD pairs. Recommended timeframes are M5, M15, M30, H1. The trading strategy is as follows: as soon as the arrow appears, we open an order in the direction of the arrow and set the take profit at the level of 10 points. We set the stop loss at the level of the indicator’s stop line. The stop line is displayed in red or blue depending on the indicator signal. You can also use the Martingale strategy in this system. If the trade was closed at a loss, we open the next one with twice the volume.
The indicator is a full-fledged trading system that we have created and tested in real time. It is suitable for both novice traders who do not yet have their own trading system, and for experienced professionals. The system is completely autonomous and does not require the use of additional filters or signals. As you can see from the description above, it is very simple to use. No additional knowledge is required.
The principle of operation of the Jerusalem Line Scalper. The indicator uses 17 market analysis algorithms to determine the current price direction for several time periods. After that, the indicator displays a recommendation to the trader in which direction to open a trade. Also, the indicator, having studied the amplitude of the price movement, draws a stop line on the chart. On this stop line, you need to set the stop loss of orders.
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- The Jerusalem Line Scalper is a fully autonomous trading system that does not require the use of additional indicators for trading.
- The Jerusalem Line Scalper does not redraw its signals.
- The Jerusalem Line Scalper works on all currency pairs and timeframes. But there are recommended timeframes and currency pairs. These are the ones that we tested ourselves in trading.
- inform – display the information panel on the screen.
- Color – the color of the information panel.
- Longitude – the number of elements of the timeseries for analyzing the trend direction.
- ATRperiod – the period of the Average True Range indicator.
- Ratio – the coefficient for calculating the stop line.
- Shift-index of the initial bar to find the highest or lowest price value for a certain period of time.
- Signal – enable / disable push notifications and email alerts.