ScalperSignalVisual
Indicator
195 downloads
Version 1.0, Aug 2025
Windows, Mac
Description
This indicator is a tool to visualize the trading logic of a contrarian strategy called "Fade Breakout" on your chart. It does not perform actual trades but shows how a position would be managed from entry to exit when a signal occurs.
Key Features
- Entry Signals:
- It utilizes the Donchian Channel.
- Buy Signal (Contrarian): When the price breaks down below the lower Donchian Channel band, it displays a buy signal (blue up arrow ↑).
- Sell Signal (Contrarian): When the price breaks out above the upper Donchian Channel band, it displays a sell signal (red down arrow ↓).
- Risk Management:
- Upon entry, an initial Stop Loss (red dotted line) and a first Take Profit (green dotted line) are drawn, based on the ATR (Average True Range).
- When the first Take Profit (TP1) is hit, a gold star (★) appears, and the stop loss is moved to the entry price (break-even).
- After that, an ATR-based Trailing Stop activates to secure profits by following the price. The trailing stop's path is displayed as a magenta line.
- Trade Exits:
- Stop Loss: If the price hits the stop-loss level, it is marked with a red square (■).
- Trailing Stop Exit: If the price hits the trailing stop, it is marked with a blue square (■).
- ADX Filter:
- You can optionally enable the ADX filter.
- If the ADX is higher than a specified value (indicating a strong trend), it will disable new entry signals. The current status (Entry OK / No Entry) is shown in the text at the top-left of the chart.
Summary
AI summary
ScalperSignalVisual is a chart indicator designed to visualize the trading logic of the contrarian "Fade Breakout" strategy. It uses the Donchian Channel to generate entry signals: a buy signal appears when price breaks below the lower band, and a sell signal when price breaks above the upper band. The indicator does not execute trades but graphically demonstrates position management from entry to exit.
Key features include risk management tools based on the Average True Range (ATR). Upon entry, it plots an initial stop loss and a first take profit level. When the first take profit is reached, a marker appears and the stop loss moves to break-even. An ATR-based trailing stop then activates to protect profits, visually represented by a magenta line.
Trade exits are marked on the chart: a red square indicates a stop loss hit, and a blue square signals an exit via the trailing stop. An optional ADX filter can be enabled to suppress new entries during strong trending conditions, with the current entry status displayed on the chart.
This indicator aids traders by clearly illustrating the Fade Breakout strategy’s signals and trade management steps directly on price charts.
Key features include risk management tools based on the Average True Range (ATR). Upon entry, it plots an initial stop loss and a first take profit level. When the first take profit is reached, a marker appears and the stop loss moves to break-even. An ATR-based trailing stop then activates to protect profits, visually represented by a magenta line.
Trade exits are marked on the chart: a red square indicates a stop loss hit, and a blue square signals an exit via the trailing stop. An optional ADX filter can be enabled to suppress new entries during strong trending conditions, with the current entry status displayed on the chart.
This indicator aids traders by clearly illustrating the Fade Breakout strategy’s signals and trade management steps directly on price charts.
Indicator profile
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