1. Overview
The Crazy TMA Bands Scalper is a complete trading system for scalping renko bars. The indicator gives very accurate buy/sell signals and shows them on your chart in a very nice way and keeps your chart uncluttered.
Beautifully designed
The indicator uses well-known TMA bands to draw visually very nice and appealing bands. As you can see these create beautiful, uncluttered, and very clear charts
Crazy accurate, non-repainting buy/sell signals
Now some of you might say that the TMA bands are repainting and you are correct. The bands themselves are repainting indeed. That is just how TMA bands work, they repaint for the last Half Length bars. And until now this was a big problem since in hindsight they always looked great. But when real live trading.. things were very different
After lots of research & development, we found a way to get around this. Sure the bands will still repaint.. But the trade signals our indicator gives will never repaint
As you can see from the screenshots shown on this page the signals given by this indicator are crazy. That is why we called it the Crazy TMA Bands Scalper
2. Settings
The indicator just has a few settings and the defaults should be good to get you started in any market.
2.2 ATR Period & ATR Multiplier
These settings are used to define the TMA bands.
The ATR multiplier specifies how wide the bands will be. Smaller numbers will give narrower bands and more trading signals. Higher numbers will widen the bands and give fewer trading signals.
The ATR Period specified the number of bars used to calculate the ATR for the bands
2.3 Half Length
The Half length specifies the number of bars used to smooth out the bands. This is also the part that repaints. A higher number will cause a more smoothed band, and a lower number will mean less smoothing
Note that ONLY the bands will be repainting and ONLY for the last number of bars set up by the Half Length setting. The Trade signals NEVER repaint!!!
2.4 Show buy/sell signals
With this setting, you can turn on/off the Buy/Sell signals on the chart
2.5 Percentage
This setting is used for generating the buy/sell signals. A buy/sell signal is generated when prices come close to the upper or lower band.The percentage specified by this setting specifies how close price should be to the band for a signal to be created
5. Features
- Complete trading system for scalping renko's
- Clear buy/sell signals
- Alerts
- Works on any market
- Works on any timeframe
- Works best on (median) Renko bars
6. ChangeLog
4 nov. 2023 v1.0.0.0
- first release
8. Media
