Scalper SMA-RSI-MACD – Entry/Exit Signals v2

The Scalper SMA-RSI-MACD – Entry/Exit Signals v2 indicator is an intraday trading tool that provides comprehensive entry and exit signals by combining trend filtering, momentum pullbacks, and volatility-based risk management.

Usage

The indicator is primarily designed for scalping and short-term intraday trading. It generates long and short signals based on three converging factors:

• Trend Confirmation: It identifies the primary trend using a 200 EMA and an SMA ribbon (5, 8, 13). Signals are filtered to follow the prevailing direction unless the filter is disabled.
• Momentum Pullbacks: It utilizes a fast RSI to identify oversold conditions in uptrends or overbought conditions in downtrends.
• Trend Shifts: It monitors MACD crossovers to ensure momentum is aligning with the entry direction.

Traders can visualize the entries via on-chart arrows, while management is handled through plotted Stop Loss (SL) and Take Profit (TP) levels. The script supports multiple exit modes, including fixed risk-reward targets or exiting on opposite signals.

Details

The script executes logic based on a lookback window for RSI and MACD conditions, ensuring that both momentum and trend shifts don't have to occur on the exact same candle to validate an entry. Risk management is calculated using the Average True Range (ATR), providing dynamic stop levels that adapt to current market volatility. The trend filter requires the price to be above the 200 EMA and the SMA ribbon to be in a bullish alignment (Fast > Mid > Slow) for long signals, and the inverse for short signals.

Settings

MAs

• SMA Fast/Mid/Slow: Adjusts the periods for the triple SMA ribbon used for short-term trend alignment.
• EMA Trend len: Sets the period for the primary trend filter (default 200).
• Use Trend Filter: Toggles whether signals must align with the EMA and SMA ribbon.

Momentum

• RSI length/Thresholds: Configures the sensitivity of the RSI pullback detection.
• MACD fast/slow/signal: Standard MACD parameters to define momentum crossovers.
• Signal lookback bars: Defines how many previous bars the script looks back to find valid RSI and MACD conditions.

Risk/Targets

• ATR length: The period used to calculate volatility for stop placement.
• Initial Stop: Multiplier for the ATR to determine the distance of the stop loss.
• TP1/TP2 (R): Sets the Take Profit targets as a multiple of the initial risk (Risk/Reward ratio).
• Exit mode: Choose between TP1, TP2, or Opposite Signal as the primary exit logic.

Session

• Trade only in this session: Restricts signal generation to specific hours.
• Session: Defines the active trading window in exchange local time.

FAQ

How do I interpret the exit signals?

The indicator marks exits with specific icons: a flag for Take Profit (TP), an "X" for Stop Loss (SL), and a circle for an Opposite Signal (OPP).

Can I use this for swing trading?

While optimized for 1-minute to 5-minute charts, you can adapt the settings (such as increasing RSI and MACD periods) to suit higher timeframes for swing trading.

How do I get access to Scalper SMA-RSI-MACD – Entry/Exit Signals v2?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.