SCALPING STRATEGY PINE

Scalping strategy on pine script is one of the most demanded setup by option traders.

This strategy has several useful features that can help retail traders trade like institution and capture quick points by scalping.

The strategy works in both direction (Buy sell cycle and Short cover cycle), so it suits both buyer as well as seller.

This strategy works on all symbols (Equity, Future, options, currency, commodity, crypto)

It has 2 modes : Intraday and Positional.

If you select mode as Positional, you can define the start date and the price value, and the pine will start calculations from that level, 

If you select mode as Intraday, you can define the Start time and end time and also the price values, and the pine will calculate those levels everyday.

Entry logic : If your preferred trade type is Buy-sell, define the first price level and scalping level, for every x points the market falls down, we will keep buying until max scalping position is reached.

If your preferred trade type is short-cover, define the first price level and scalping level, for every x points the market rises up, we will keep selling until max scalping position is reached.

You can keep target in points or percentage, and this target is applicable per unique leg seperately and each leg will exit seperately based on the entry price.

You can even set maximum number of pyramiding or averaging to be done, eg: If you set Max scalping position as 5, it will keep averaging 5 times.

You can even backtest this strategy on tradingview for free.

To learn more about this strategy in detail check out the video.

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