IVISTscalp5

Overview of iVISTscalp5

The iVISTscalp5 indicator is a unique and effective tool for analyzing trading operations. It is based on time data and is the result of many years of experience and deep analysis of financial markets. This indicator is an excellent assistant for manual trading, offering convenience, simplicity, and visualization. The most complex calculations are hidden inside, making it user-friendly. The iVISTscalp5 indicator is suitable for all financial instruments available in the MT5 terminal.

Key Features

History: Number of weeks to calculate quotes

dT_min: Selection of the time interval for timings (minutes)

TFline: Building horizontal volumes (timeframe)

BARSline: Building horizontal volumes (number of bars)

TFtrend1: Building a daily channel (timeframe)

BARStrend1: Building a daily channel (number of bars)

TFtrend2: Building a weekly channel (timeframe)

BARStrend2: Building a weekly channel (number of bars)

ALERT_TIMER: Setting the alarm clock

ALERT: Turn on/off the alarm clock

Save: Turn on/off recording timings to a text file

Trading Signals

The red and blue flags on the chart represent timings, which are signals of the VIST intelligent scalping system. The sell signal is indicated by red flags, while the buy signal is indicated by blue flags. The execution time of the presumed timing is written on each flag. Inside each timing, there is information about the points that the price should pass according to the calculations. If there are very few points, the timing is ignored. Duplicate timings of the same color enhance the signal, and in such cases, a better entry point should be sought around it.

Optimal Trading Periods

The maximum efficiency of working with timings is observed during 2-3 financial weeks of the month. However, this does not mean that timings do not work at the beginning and end of the month. In the first and last week of the month, there are more fluctuations in the market, which can affect the timing of the triggers. News that greatly affects the market can also impact the timing of triggers.

Important Trading Rules

Do not open a sell timing order at the minimum of the day (at the minimum of the daily or weekly channels).

Do not open a buy timing order at the maximum of the day (at the maximum of the daily or weekly channels).

If there was a drop in the price of a financial instrument before the sell timing, ignore this forecast. Wait for the nearest upper price level and only then open the sale.

If there was a price increase before the buy timing, ignore this forecast. Wait for the nearest lower price level of a financial instrument and only after that open a purchase.

Double timings (timings that differ from 2 to 6 minutes) should be treated with caution. If the first forecast of the two has worked, ignore the second timing.

Consecutive forecasts in red or blue (sell timings are a red flag, buy timings are a blue flag) indicate that there will be an impulse towards timings. Most often, such situations occur before important news.

Technical Adjustments

For optimal timing operation, some adjustments need to be made to the MT5 terminal. Go to Service - Settings - Charts - 'Maximum bars in window' and select 'Unlimited'. Manually load quotes for the financial instruments you work with. For example, for the XAU/USD pair, go to View - Symbols - Specification - find XAU/USD - choose bars - select timeframe M1 - load quotes for the last six months. This speeds up the calculation of timings in the iVISTscalp5 indicator.

Conclusion

The iVISTscalp5 indicator is a powerful tool for traders who are looking to enhance their manual trading strategies. With its user-friendly interface and robust features, it simplifies the complex process of market analysis. However, like any trading tool, it requires practice and discipline to master. So, get ready to dive into the world of scalping with iVISTscalp5 and may the pips be ever in your favor! 🚀📈