Best Trend Indicator for Scalping In Any Market- Buy and Sell EMA and RSI+ Indicator
In this article, I will discuss Best Trend Indicator for Scalping. The first one is the Buy and Sell EMA Indicator by Che_Trader and the other one is RSI+ Indicator. This combination works very well for stocks, crypto, and Forex. This strategy works well in a 5-minute time frame. By reading this article you are definitely going to increase your trading knowledge.
How to Attach Buy and Sell EMA Indicator and RSI+ Indicator
To attach these free indicators all you need is to go to tradingview.com sign up and search Buy and Sell EMA Indicator by the author Che_Trader in the indicator section as shown in the image below. Click on the indicator to attach it to your chart.
Similarly, search for the RSI+ Indicator and click on the Indicator to add it to your chart. Here, you can also find these indicators.
Customize Settings of Buy and Sell EMA and RSI+ Indicator
To increase the accuracy of this indicator, you must change the settings. You can check the details of the setting in the image. If you go into the settings tab of the indicator you can play with the settings to adjust it according to your assets. As per my experience here are the best settings for these two indicators.
Best Trend Indicator for Scalping Strategy
EMA is the Exponential Moving Average Indicator and is the powerful trend-following indicator that works on the basis of the Moving Average. On the other hand RSI+ Indicator measures the strength and weakness of the market.
How to Use this Trading Setup
This trading setup works very well for forex, crypto, and stocks. This setup gives very clear and easy to use signals.
Sell Signal
When the Buy and Sell EMA Indicator gives the sell signal, the RSI+ Indicator shows the red area it gives the second confirmation. Then you should wait for one bearish candle to form. It’s a selling opportunity.
Stop Loss
Stop Loss should be placed at the previous high of the EMA Line.
Buy Signal
You can get into a long position when the buy and sell EMA Indicator gives the buy signal. Then you should check for the RSI+ Indicator as a second confirmation it should be in a green area. Wait for the bullish candle then it is the best time to enter into a buy trade.
Stop Loss
You should set your stop loss to the previous low of the EMA line.
Conclusion
Among the free indicators, this combination of buy and sell EMA and RSI+ Indicator is best for scalping. You can make profits in a very short time with these indicators. All you need is good money management while trading. These are the leading indicators as EMA works based on Moving Average and RSI+ measures the strength.
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