NTL SCALP v2 with TP & SL (Absolute)

NTL SCALP v2 with TP & SL (Absolute) – Scalping Trend System
Timeframe Example: 15-minute (XAUUSD)
Indicator Type: Combined trend-following and momentum-based scalping system

🔍 Purpose of This Indicator
This script is designed as a unified tool for intraday scalpers, combining multiple essential components—trend detection, entry signal logic, and automated risk management—into one streamlined system. Rather than simply merging various indicators, it integrates them with a clear purpose: to generate trade setups with actionable entries and realistic TP/SL targets in trending markets.

📌 Core Components & How They Work Together
Multi-Ribbon EMA Trend Filter

Multiple Exponential Moving Averages (EMAs) are used to detect short-, medium-, and long-term trends.

The EMA ribbons visually shift from red (bearish) to green (bullish) depending on the overall price structure.

These ribbons not only indicate trend direction but also serve as dynamic support/resistance levels.

Momentum-Based Entry Signals

Buy and sell signals are triggered when price momentum aligns with the trend (e.g., bullish breakout above EMAs with supporting candle structure).

The system ensures that trades are only taken in the direction of the prevailing trend, reducing the likelihood of false signals.

Auto-Generated Entry, TP & SL Levels

Once a valid setup is detected, the script plots the entry price, stop-loss (SL), and up to four take-profit (TP1–TP4) targets.

These levels are based on recent volatility and trend strength, allowing traders to manage risk and reward efficiently.

Labels such as “TP1 HIT” or “SL HIT” are displayed on the chart to show trade progress in real-time.

✅ How to Use This Indicator
Designed for scalping and short-term trend trading during high-volume market sessions (e.g., London/New York).

Ideal for traders who prefer clear rules for entry, exit, and risk management.

Can be used standalone, but works even better with confirmation from price action or volume-based tools.

🛑 Note
To ensure effective performance, avoid using this tool in ranging or low-volatility markets. It is optimized for trending environments.

⚠️ Disclaimer
This script is intended for educational purposes and does not constitute financial advice. Always conduct your own analysis and apply risk management when trading.