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The new Iscalper trading system


hirobo

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A BIG THANK to admis and CashManic for all great support and help.

 

Here are video's from Programmer Chris how to install and configure the new iSc@lper upgrade:

https://[email protected]/file/b5f162

https://[email protected]/file/lwsw90

 

Further from Larry a very interesting iSc@lper TradeSetup video:

 

Hope this helps all i-Sc traders

G:)

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A BIG THANK to admis and CashManic for all great support and help.

 

Here are video's from Programmer Chris how to install and configure the new iSc@lper upgrade:

https://[email protected]/file/b5f162

https://[email protected]/file/lwsw90

 

Further from Larry a very interesting iSc@lper TradeSetup video:

 

Hope this helps all i-Sc traders

G:)

 

Good stuff Heinz. Thanks so much!;)

Edited by CashManic
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Guys, be aware if you increase the Length and Smoothing inputs, you will not only get less signals--as Chris points out in the intro video--but you will also be entering a trade a bar or two later depending on how high you set those numbers above the 5/4 default. So, you might be better off with the default and learn to filter bad signals through more screen time.
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I am thinking to stick with v1.0 as I have already traded live on it and have not messed with any settings whatsoever, more settings you manipulate more unreliable it may become, v 1.0 in its pure form works just fine, I am only talking about russell, other futures may benefit from upgrade?. Chris now gives a hint to take trades without setup which is highly discretionary and it may ruin your results. just my two cents. I will trade live for the next week and will post results.
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I have used 9, 1, 15 for russell and getting out 11 ticks profit 14 ticks loss, two trades in one direction, if I make 22 ticks in first two trades I am done trading for the day. If i can not tell what direction market is I am not taking that trade, it has to be visibly clear in up or down trend.

 

14 ticks stop is well withing my capitol risk parameter of 1.8% loss of my total account value. As name of program suggests we are scalping 11 ticks profit and not going for big profits. I dont want to spend all day in front of computer so 22 ticks are more than enough for me.

 

This forum has taught me many many things among them sane money management is on top. Great job guys:D

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I spent a few hours looking at chart both with iSCALPER and RJRS 7-1 bars with no other indicators and here's my takeaway. iSCALPER doesn't give any better information with respect to trade entry except for the Bands, which I do find useful. The dots lag the color change of RJRS bars and thus serve no benefit. I wish I could just use the bands and turn off the rest of the painting inputs. There should be a True/False input to color the bars (I would set it to False and I'd make the dots invisible). The entries would be improved.

 

Tomorrow, I'll observe when the alert fires to see how that overlays with the RJRS only.

 

Does anyone have the preferred input settings for the iSCALPER (not iBARS) for each individual instrument? Chris mentions in a video they were/are to be released.

Edited by yamantaka
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... except for the Bands, which I do find useful. The dots lag the color change of RJRS bars and thus serve no benefit. I wish I could just use the bands and turn off the rest of the painting inputs. There should be a True/False input to color the bars (I would set it to False and I'd make the dots invisible). The entries would be improved.

...

 

You can use iBands instead of iScalper. There are only the bands without the colorful candies...;)

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Yamantaka,

Settings: see post 49 of this thread and in the promovideo there is a fragment where he shows the University area. In that section there is a screen with proposed settings for the popular instruments. These settings range. But the quality of the video is so bad (or my eyes so bad) I can not read those settings. Perhaps you are more lucky. I hope these are the settings you are looking for.

 

Delay dots: You found that the dots delay the color change of the bars. Well, perhaps that is the purpose of the method (I just am thinking free now, trying to contribute my thoughts). Do you know how the dot signal is generated? This question is still on my mind as I can not make up how the signal is generated when I read the CS file (No programmer). Perhaps we should first try to find out what the purpose is of the dot and, as per your research, why it delays.

I still think the system works great if you refrain from trades without the dot. Delay or no delay.

Did you look to how the dots are generated (sorry for repeating the question in this thread)? I think that may give a clue to those who want to replace the elements of this method by other indicators. For me personally: I do not like blackboxes and knowing how the dots are generated will bring me to new insights.

 

Bands: At time of bar close the location of the bands is WMA. You decide for entry when bar closes. Color of band (apparently TMA repaiting) at time of bar close is important. Even in a sideways going market the system works great (conservative settings). How the bands appear after the trade : I don not care as I do not see the purpose (except that iScalper will sell on showing that picture).

 

Other indicators: Personally I think it may be a first option to fully test the system as it is. No over optimizing in settings so you get a millionaire with last weeks data. I think it is better to take conservative settings and aim for the less trades but higher probability and lower risk scenario. If you get too greedy then a sideways market will kill you due to the too tight settings. Throwing in other indicators will make the system more complex and is perhaps also the trap why so many traders keep on looking for other systems all the time and continuously keep replacing elements by to other elements.

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For curious and smart members, iScalper in the source form. To omit any potential name conflicts, I've changed the name of this indicator on: iScalperS (so, you don't need to remove the previous binaries)

https://www.sendspace.com/file/a6mz7u

After unpacking just import it into NT in the standard way.

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Jdizzle22

Thanks for your explanation, can you add necessary code into your tmbands indicator to output its angle into a square box in user configurable place on the chart?.

 

It's better to show an example of something you can do. I think the printing the numbers is the not a good way to go. The best way to go is coloring the plots--you could color the plots several different colors based on levels of slope (i.e. slope above X, color 1. slope above y, color 2), but here is an example of converting slope to angle and printing it on a chart: DrawTextFixed("SlopeToDegrees", "Degrees: "+Math.Atan(Slope(Plot0,slopeLookback,0)).ToString(), TextPosition.BottomRight);

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Yamantka

 

I am curious to know how the entries will be improved without dots and on just ibands, will you be looking for entry when price hits both bands i.e. in uptrend price goes above the uper bands and then retraces to lower band and then starts to go to your intended directions. A picture worth thousand words

NP, Ill try to post a few if the trades evolve.

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