VTL Paramon Scalp Indicator

Scalping is a common trading strategy in Forex and binary option market. In this strategy some price level should be selected to open and close trading positions with a minimum profit.

There should be two price levels, one at high to enter short and another low to enter long trade. This is known as price channel for scalp trading.

Paraman scalp is a well known indicator for scalp type day trading in Forex. This is the VTL client side script equivalent to the indicator. This indicator shows an area of price action as safe trading zone for scalping. This Client Script will draw four lines on the chart based on user selected time period. It will draw two lines above high price and other two lines below low price. Time period for those price channels can be modified from input variables. As a daily time based indicator this works properly in 1M, 5M, 15M, 30M, and 1H time period.

Usage

• Download the attachment.
• Copy it to your company VertexFX  Local VTL Files folder i.e. C:Program FilesCompany Namevtl10Local VTL Scripts
• Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.