The Scallop Pattern identifies momentum reversal.
The pattern consists of two candles and the direction to trade is confirmed in the following candle.
An example trade is shown in the picture. s3.tradingview.com
A Stop Limit order is generally used to enter the long position.
A spin-off of my similar script for ES futures. This script uses the VXN Index instead of the VIX, which represents the 30-day implied volatility of Nasdaq-100 options and then uses that value to plot bands on the chart, helping traders identify price extremes as identified by the options market. Users can modify the moving average, bands multiplier, and number of...
This script escapes much of the subjective technical analysis and discretionary trading in general. With this Script/Indicator, you will be able to have access to the statistics tested day by day in the markets, statistics that will be a decisive support in your trading plan. Its analysis and creation is based on the quantitative trading system, since these...
