My New FREE Scalping Indicator is NOW LIVE!
For you guys to use as well in this video, i will show you how to get it in treating you how i personally use it, and i will show you my scalping strategy that i use along with this indicator, and i will show you how to set Up alerts with this indicator as well and its super easy to set up alerts, its a one, click alert indicator, so its very, very easy, and this indicator has actually improved my life in a way because im spending less time in front of the computer, but im Still able to take all the trades i want to take, so i will show you how i use it, but first i want to be very clear about one thing: this is not financial advice of any kind, and my trading style is very risky and if you Copy me and copy my style, you can lose all the money in your account, so read this disclaimer and i will show you the indicator all right. So, first of all, i want to show you my five minute scalping strategy that im using and this indicator is intended for this strategy. Most of you already know about the strategy, but for the new viewers i want to explain a bit how it works. So the strategy is based on the 50 ema and the 200 ema on the five minute time frame. So if the fifth dma is about the 200 ema, then long positions are allowed to take and if the fifth ema is below the 200 ema, then short positions are allowed in this strategy, then im using the macd from the one minute time frame, so its a Multi time frame strategy and when the macd, upticks and down ticks, are above or below a certain value, then im also allowed to take a longer short position and then i go to the chart, look at the price action and look at the order books.
In my exchange, which is by bit, and then i make a manual decision, if i should take this trade or not – and the potential with the strategy is actually pretty insane, lets say that i start with 100 and i can keep a win rate at 66. For example – and i take profit at 0.5 percent – have a stop loss of 0.4 and using a 25 x leverage, for example, then, after about 500 trades with the compounding effect reinvesting the profits into the next trade, its actually possible to turn 100 into a pretty significant Amount here after a few hundred trades, so the potential is huge with the strategy, but the win rate has to be pretty high to make this happen and thats the hard part with the strategy ive been perfecting this strategy for a long time now and ive been Training, my brain to recognize patterns and behaviors in the charts based on the signals i get from my strategy, but keep in mind that this does not work on all exchanges, because some exchanges have fees that are too high. So the fees has to be very low. In order for this to work, and also, of course, the win rate has to be very high and you have to be experienced as well, because you cannot afford to make any mistakes that can wipe out your entire account very fast alright. So let me show you how to get this indicator so, first of all, i will remove the default macd indicator here, because i do no longer use this indicator because my indicator is based on the macd alright.
So now the macd in the query is gone and i have to keep the emas in my chart because i was not able to add the emas along with this indicator. So for the main chart you can add the 50 ema and the 200 ema as well. So now just go to indicators up here in trading view and click there, and now you can search for joel on crypto, and you will see my indicator popping up here under the community scripts and the author should be joel on crypto. So just click this indicator and it should be added to your chart just like this, and this indicator is primarily made for the five minute time frame technically its possible to use for higher time frames as well. But i have not been testing the accuracy on the higher time frames, but feel free to do that if you want to – and this indicator also works on different coins and different assets as well, you can use it on stocks as well. I have not been testing it on stocks, i use it primarily on bitcoin and sometimes ethereum alright, so this script is an open source script. If you want to try and rewrite it and improve the script and improve the indicator for better accuracy, feel free to do that and feel free to communicate with me as well. If you have ideas on how to improve it, and also if you find any advice or anything like that, contact me and i will take a look as soon as possible and i will try to improve the indicator even further.
Alright, so now im on the five minute time frame, which is my main time frame for scalping, and i am on bitcoin on the buy bit chart because thats, my exchange that i use when im scalping and lets look at the settings for this indicator. As you can see here, you have a grey cloud here, which is the size of the average macd histogram bars, and when we have an optic on the macd that is bigger than this average cloud, then the macd histogram bars are highlighted and you can also set Alerts based on these highlights, the green ones are only highlighted when the 50 ema is below the 200 ema. When we can take short positions – and we only get highlights on the macd downticks when we have a golden crossover on the emas where the fifth ema is above the 200 ema – and we will get alerts on those downticks as well, so thats. Why? For example, here you can see that we have some macd optics here that are bigger than the average cloud, but they are not highlighted, and that is because, according to my strategy, since we have a golden crossover, i am not allowed to take short positions here. I have to wait for a death cross on the emas, so thats the reason, and if you want to set up alerts and with this indicator you can just go to the alerts menu here in trading view, click here and then right, click on the indicator and Click here on add alert on joel and crypto macd scalping so clicking here, and then i prefer to use once per bar for the alert, and i can also choose a specific sound here.
I prefer an annoying sound, so i dont miss the alert and then just click create. And now you have the indicator here and it should alert you every time we have a highlighted, macd histogram bar all right. You can also install trading view in your phone and you can get alerts in there as well. If you feel like you need it, i have my alerts in trading view, both in my phone and also on my computer thats. What i prefer, but my girlfriend hates me, but thats, not a story, but at least with this indicator i only get relevant alerts before i had this indicator. I had to set alerts for macd crossovers and also for all and make the optics and downticks above or below a certain value, and i got so many alerts, so i stopped looking at the alerts. But now, when i have this indicator, i only get relevant alerts and it saves a lot of time for me when i dont get an alert, i can relax and when i get alert, i head straight to the computer and have a look at the chart and I make a fast decision if its a good time to enter or not, and by the way guys. I want to be very clear about this as well. This is not an automated strategy when im getting an alert from this indicator. The only thing it tells me is that we have some action in the price right now and it might be a good time to enter a position either now or a bit later its not my entry signal.
My entry signal is manual. I take the decision manually, but it drags my attention at the exact right time thats. The purpose of this indicator im also looking at price action im, looking at my bullish or bearish bias for the day and im, looking at the order, books and stuff like that and key levels and the overall price action as well in the chart. Alright. So let me show you some settings for this indicator. You can hover here at the top and then you can click on the settings icon here and you will get a lot of settings for this indicator and everything that you see here is customizable and you can customize everything that you see here. So we are using the 50 and the 200 ema for the trend indication, and this is what controls if we should highlight, downticks or highlight optics. So you can change these values if you want to, but keep in mind that you need to also change the values in the chart as well to make it visible because these emas, here in my settings and these emas in the charts, they are unfortunately not synced. Thats, the only thing i failed with this indicator to add emas automatically into the main chart as well. If someone knows how to do this, please comment down below and i will update the indicator all right. Then we have some default macd settings here. I never change these settings these settings.
They need to be here because im using the default macd as an underlying indicator, so we need them to be there. Then we can also choose if we want to base the highlights for the optics and downticks based on the average cloud that you see down here or if you want to base it on a fixed value. If you choose a fixed value, the lines here at the top and the bottom will be flat and you will specify a specific value, but this value would be different for, for example, bitcoin and ethereum. As you can see here, value 30 and negative 30 on ethereum is very far from the actual values, but on bitcoin the values are in general, a lot higher. So i prefer to use the average cloud for the highlights and for the alerts but im constantly trying out which are the best settings for this indicator. But if you want to use fixed values, you can specify the fixed values that you want to use for the optics and downticks down here, but lets stick with moving average values for now, then we have the tick source, and this is, if you want to use The highest part, the average bar or the last bar from the macd from the one minute time frame for each five minute candle. This is a bit advanced. If you dont understand how this works, its completely fine, you dont have to know exactly how everything works in the background, but i prefer to use the highest bar at the moment.
So lets go with that for now and when it comes to these settings you have the optics and ticks you can specify how far back you want to base the average values for the cloud. So, for example, if i use 10 here, it will only use the last 10 bars for the average cloud and, as you can see, the cloud would be very volatile and if you use a higher value, for example, the last 2 000 bars, the lines will be More flat, alright, and also you can use a multiplier for the average cloud as well. If you use one, it will use the actual average values which might be too small sometimes, and it will give too many signals and too many alerts. So then you can multiply it by two to make it bigger and therefore you will get less amount of highlighted the macd bars and therefore less amount of alerts, and then we have the styling here. I think i dont have to explain this to you. You can play around with the settings here if you want to, but i prefer to leave it as default. Just like this and guys regarding the alerts. Keep in mind that if you add an alert with this indicator and then if you change the settings for the indicator, the alert will not be updated automatically. So if you want alerts for the new settings, you have to delete your previous alert and then add the alert back in just for your information student.
Get frustrated that the indicator is not giving alerts on your most recent settings, and i just want to thank you for all the support that you gave me in the last video. The support i got about this indicator was insane. I got like 6 000 likes and 4 000 comments in just a few days. Thank you very very much for that and, of course, i will publish this indicator for free and by the way, guys just for your information. I read all the comments i get. I have personally read every single comment that i got but its impossible for me to reply to all the comments im only one person and if i get like 4 000 comments, that would take too much time to reply to everyone. But i can guarantee you that i will personally read all the comments and the support has been insane. I got only positive comments. I think i got like two negative comments out of 4 000 comments. So thank you very much for that support. It makes me very motivated to keep going and to keep building stuff like this and publish it for free to you guys – and i have some very, very, very exciting stuff coming up the next few weeks, guys so stay tuned for that subscribe to the channel. If you want more stuff like this and remember, i am competing in a scalping competition, and that starts june 27th, and i have a team here on this competition with over 100 scalpers in my team, so join the team as soon as possible.
If you are an experienced trader and if you are able to grow a small account, this is a competition with 8 million dollars in the prize pool. So i am very excited to compete in this competition. We also have a very good team of scalpers, and the only thing we need is 10 good performing traders in the team in this competition and the entire team will be able to win the competition if we can outperform the other teams. Go down to my video description down below.