hello to all guys,
I’m trying to find the best indicator to use in scalping M5, together with my custom Price Action system, in order to improve system robusteness detecting a reversal.
Tried RSI and stochastic with period from 9 to 11 but if they are working for avoiding bad trades, they avoid also good trades and viceversa.
what is the best indicator and setting to use in conjunction with price action trade in this case? Thank you to all
Hi, if you asking about it, you should not touch scalping. Regards Greg
I hope it works for you. use rsi and macde. when rsi is over buy and macd bar is changing color to weak buy, enter sell. do the opposite when rsi is oversell and macd shows weakness in sell.
using which settings ?
for indicators default settings for chart 5m
no, tried in backtest and doesn’t work at all. If you want I publish my chart
Yes please or you can tell me the pair name i will check.
pairname XAUUSD. check today and yesterday for example
Oh gold is dangerous to trade with any strategy. I suggest you check forex pairs. With gold even very strong traders cannot scalp. If you want to try this strategy on gold, smallest time frame you should check is 15 min. check that. it probably works better. also consider that with this strategy your stop loss can be set very close.
cannot use 15 m because indicator that I’ve written based on this strategy works for M5 with paramters I had… and I can say I have good results
but I’m trying to improve them
have you checked other charts too? forex pairs especially
To say that “the blind are leading the blind,” here, would be excessively polite.
Scalping and 5-minute charts are mutually exclusive, Frank. So are scalping and CFD/spot-forex. This is what you actually need to know. Unfortunately, though, it isn’t what you’re asking. 
So far, the best indicator I know to detect reversal is Alpha Trend at TradingView. But you might want to use filters because you’ll get whipped out a lot during sideways and when the volume is low.
Cheers.
Which settings could be the best for M5?
HAHAHA so what do you suggest? avoid trade so you do not lose? 
that is good too
Education.
Understanding what “scalping” really is, what a “market” really is and what a “broker” really is.
Once you understand that, it’s trivially easy to see why trying to scalp a counterparty can’t possibly work successfully in the long run.
You’d be scalping your “broker,” not the market.
If you could really do it successfully, how long do you think they’d tolerate it for?
In reality, retail CFD traders obviously can’t do it successfully long-term, so the “brokers” welcome it because they make plenty of profit from it.
brokers would not make it ban if that is true but a lot of brokers do not allow scalp!
You are (like many of this forum’s members, much of the time) confusing “actual brokers” with “firms pretending to be brokers”. These are two hugely different groups, but as so often you’re not differentiating between the two, Vasil.
Do you accept some brokers ban scalping? if you do not i can send you example. if you do, why do you think they do? even good brokers that do not do unfair things sometimes ban this because that is too much risk for broker. a scalper can win a lot in short time if he is familiar with chart.
That’s not what we’re disagreeing about. We’re disagreeing about what a “broker” is.