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Day Trading / Scalping with Optimal Trade Entrance

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• 3-in-1 OTE (Optimal Trade Entrance) strategies: EMA Scalping, EMA Day Trading, Candlestick Bar Scalping
• Great for any trading instrument: Options, Futures, Indices, Stocks, Crypto or FOREX
• TP (Take-Profit) and SL (Stop-Loss) visual levels, labels and alerts
• Works on the most popular timeframes: 1M, 3M, 5M, 15M, 30M, 45M, 1H, 4H, D
• Includes preparation Alerts for scalping trading methods, so no trade will be missed
• Comes with static and dynamic SL (Stop-Loss) and TP (Take-Profit) systems

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Trading Strategies
(Click or Tap to expand)

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Technical Info Instructions How-to

(Click or Tap to expand)

Signal labels, plots, colors

• 1) [OTE] EMA Scalping - LONG[Progressive] (↑) prepare.
• 1) [OTE] EMA Scalping - SHORT[Progressive] (↓) prepare.
• NOTE: These are preparation labels (long(↑) / short(↓) or calls(↑) / puts(↓), labels are customizable, an Alert can be set as well), which is where you prepare to enter the trade, once the price exits/bounces off the EMA Cloud > a trade is opened in the direction of the exit from EMA Cloud, the idea is to catch the "bounce momentum".


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• 2) [OTE] EMA Day Trading - LONG[Conservative] (↑) open.
• 2) [OTE] EMA Day Trading - SHORT[Conservative] (↓) open.
• NOTE: The green/red arrows above/below bars will be shown on every signal of the algorithm, while the long(↑) / short(↓) labels are shown when an actual trade is open per trading engine, the trade is open until TP (Take-Profit) / SL (Stop-Loss) / EOD (End of Trading Day close) is hit.

• 2) [OTE] EMA Day Trading - LONG[Conservative] take-profit: green circles, stop-loss: green crosses
• 2) [OTE] EMA Day Trading - SHORT[Conservative] take-profit: red circles, stop-loss: red crosses.

• 2) [OTE] EMA Day Trading - LONG/SHORT[Conservative] - EOD (End of Day | Intraday style) close examples.


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• 3) [OTE] Candlestick Bar Scalping Strategy
• OTE - Style: "mid": will show an OTE line at the middle of previous candlestick bar and will show a crossing label (↑↓) + Alert [both can be turned on/off in the indicator Inputs settings], the trade can be opened in either direction, take-profit and stop-loss can be set per previous candle bar high/low points. It's wise to use candle stick analysis for this strategy.

• OTE - Style: "1/3(↑↓)": will show OTE lines at 1/3rd distances of previous candlestick bar (with take-profit and stop-loss set per previous candle bar high/low points - profit/loss ratio becomes 3-to-1) and will show corresponding crossing labels (↑↓) + Alerts [both can be turned on/off in the indicator Inputs settings], the trade should be open per OTE label direction, it's wise to use candle stick analysis for this strategy as well.

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Main Configuration and Trading Schedule Settings

• GLOBAL GENERIC SETTINGS
         >>> Show Options signal labels (long: 'calls' | short: 'puts'): Helps a lot when trading Options.
         >>> Make signal labels slightly Transparent: Cosmetic modifications.
         >>> Alert when EMA Cloud active/dotted line changes color: [To setup the Alert: Right-click the chart > Add alert > Condition: EMA Cloud Scalping / ∫x Any alert() function call > Create]
         >>> RSI/MFI Trend Detector | Strength: The bigger the Strength number > the bigger/stronger RSI(Relative Strength Index)/MFI(Money Flow Index) Trends will be detected.
         >>> EMA Cloud - Bullish Color: EMA Cloud visual cosmetics.
         >>> EMA Cloud - Bearish Color: EMA Cloud visual cosmetics.
         >>> EMA Cloud - Inside Color: EMA Cloud visual cosmetics.
         >>> Turn On - Gradient Effects: EMA Cloud visual cosmetics.
         >>> EMA Cloud Strength (1-15): The bigger the EMA Strength number > the bigger EMA Cloud will be. NOTE: That means there will be less SL (Stop-Loss) hits, but each SL (Stop-Loss) will be bigger.
         >>> HHLL | Show HHLL (Highest High Lowest Low): Will show/hide the most recent highest/lowest critical price levels, which can be greatly used for SL (Stop-Loss) / TP (Take-Profit).
         >>> HHLL | Take-Profit Top Band Lookback Period / Bottom Band Lookback Period: The longer the Lookback Period - the further will be the critical price levels.
         >>> HHLL | Take-Profit Top Band Source / HHLL | Take-Profit Bottom Band Source: Source for calculating the critical price levels, 'high'/'low' works best.
         >>> Show additional S&R (Support and Resistance) Blocks: This setting will show additional powerful support and resistance areas, which can be used for SL (Stop-Loss) / TP (Take-Profit) or as a market sentiment.
         >>> S&R Per Order Blocks - Source / Top S&R Length / Bottom S&R Length: Just like for HHLL, S&R Blocks can be customized with the source for calculation and lookback period.
• INTRADAY ACTIVE TRADING SESSION CONFIGURATION (THIS IS FOR CONSERVATIVE APPROACH/ALERTS)
         >>> Regional Active Trading Session Hours Schedule: If selected - trades will only open during regional active trading session, if 'OFF', there will be no trading schedule and trades will open 24/7.
               Below 2 settings are only for "CUSTOM" "Regional Active Trading Session Hours Schedule":
                     >>>>> CUSTOM - Active Trading Session Hours Schedule (Local/TradingView Time Zone): Time selected below will be in Local/TradingView Time Zone | NOTE: Be careful with CUSTOM setting as it may allow the indicator to trade during per/after market and open trades after EOD (End of Day) hour if incorrect times are input!
                     >>>>> CUSTOM - EOD(End of Day) Close - Hour
         >>> EOD(End of Day) Close - On/Off: Close the trade if it's still open at the end of active trading session (on the very last candle bar). NOTE: If 'Regional Active Trading Session Schedule' will be set to "OFF": there will be no EOD(End of Day) Close and trades will run overnight until either SL(Stop-Loss) or TP(Take-Profit) is hit!
                >>>>> EOD(End of Day) Close - 1 candle bar before last: This is specifically for stocks as while usually indices can be closed 15minutes after the market closes, for stocks - the last candle bar closes at the same time with the market active trading session, which if closed - trades can't be closed until next day/session! Enable this setting for the trade to close/alert 1 candle bar before the last one, so there is still time to close the trade at the Broker (NOTE: depending on the timeframe, 1 candle bar can be: 15sec, 30sec, 1min, 3min, 5min, 15min, 30min, 45min, 1h).
  Here is a table of all the included regional trading session hours.

  Region	Local Time	EST Time
  US/Canada
  NY_withPW(EDT)	09:30-16:00	09:30-16:00
  NY_noPW(EDT)	09:30-15:00	09:30-15:00
  Toronto(EDT)	09:30-16:00	09:30-16:00
  Europe
  Amsterdam(CEST)	09:00-17:30	02:00-10:30
  Frankfurt(CEST)	09:00-17:30	02:00-10:30
  London(BST)	08:00-16:30	02:00-10:30
  Stockholm(CEST)	09:00-17:25	02:00-10:25
  Zurich(CEST)	09:00-17:20	02:00-10:20
  Eurasia (CST > China Standard Time)
  Hong Kong(HKT)	09:30-16:00	20:30-03:00
  Mumbai(IST)	09:15-15:30	22:45-05:00
  Shanghai(CST)	09:30-15:00	20:30-02:00
  Shenzhen(CST)	09:30-14:57	20:30-01:57
  Riyadh(AST)	10:00-15:00	09:00-14:00
  Seoul(KST)	09:00-15:30	19:00-01:30
  Taiwan(CST)	09:15-13:30	20:15-00:30
  Tokyo(JST)	09:00-15:00	19:00-01:00
  Australia
  Sydney(AEDT)	10:00-16:00	18:00-00:00
  Brazil
  Sao Paulo(BRT)	10:00-17:55	08:00-15:55
  South Africa
  Johannesburg(SAST)	09:00-17:00	02:00-10:00

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• 1) [OTE] EMA SCALPING - PROGRESSIVE STRATEGY
  
         >>> Show PROGRESSIVE/scalping preparation Labels on chart: If turned on - there will be labels shown on chart when price enters EMA Cloud, so you can get ready to open trade once price exits the EMA Cloud, confirming the trade.
         >>> Turn on PROGRESSIVE/scalping preparation Alerts: With this setting checked, you will be alerted when price enters EMA Cloud. [To setup the Alert: Right-click the chart > Add alert > Condition: EMA Cloud Scalping / ∫x Any alert() function call > Create]
  

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• 2) [OTE] EMA DAY TRADING - CONSERVATIVE STRATEGY
  
         >>> Show CONSERVATIVE signals arrows: NOTE: These will show regardless of Trading Schedule and even if a trade is already open per Trade Engine!
         >>> Turn on CONSERVATIVE Trading Engine / Show CONSERVATIVE labels (signals/TP/SL): NOTE: until trade hits TP or SL > there will be no new trades open per trading engine!
         >>> Turn on CONSERVATIVE Trading Engine Alerts (signals/TP/SL): [To setup the Alert: Right-click the chart > Add alert > Condition: EMA Cloud Scalping / ∫x Any alert() function call > Create]
         >>> CONSERVATIVE: Skip opposite candle bar formation signals: Basically - skip signals, where candle bars are opposite formation vs direction per bar color (for example: bearish green hammer)
         >>> CONSERVATIVE: Skip doji (indecisive) candles bar signals: Basically - skip signals, where candle bar structure is doji / indecisive.
         >>> CONSERVATIVE: Skip signal if candle bar engulfs EMA Cloud: This should skip uncertain signals where candles bars are huge or distance inside EMA is too small - usually meaning an uncertain trend. CONFIGURATION: 'Body': only if candle bar body engulfs the whole EMA Cloud - the signal will be skipped | 'Sticks': as long as candle bar sticks engulf the whole EMA Cloud - the signal will be skipped.
         >>> CONSERVATIVE EWO (Elliot Wave Oscillator) signal confirmation: LONG signal will only be opened if EWO is bullish / SHORT if EWO is bearish
         >>> CONSERVATIVE ATR (Average True Range) signal confirmation: LONG signal will only be opened if ATR is bullish / SHORT if ATR is bearish
         >>> CONSERVATIVE: TP (Take-Profit) System: 'HHLL': Highest High / Lowest Low per lookback period (can be customized below) | 'Manual Distance': Instrument distance (example: SPY > 0.4 > Take Profit will be taken if SPY moves 0.4 points in your favor).
         >>> 'CONSERVATIVE: SL (Stop-Loss) System: 'EMACloud_dynamic': SL (Stop-Loss) is set to trail slow MA of the EMA Cloud, the solid line; 'HHLL': SL (Stop-Loss) is set to either Highest High (for short trade) or Lowest Low (for long trade); 'Manual Distance': Instrument distance (example: SPY > 0.4 > Take Profit will be taken if SPY moves 0.4 points in your favor).
  

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• 3) [OTE] CANDLESTICK BAR SCALPING STRATEGY
  
         >>> Show OTE (Optimal Trade Entrance) line: A line will be drawn at the middle of previous bar, where you wait for the price to reverse and only enter the trade once the price crosses it - thus lowering the risk/potential loss, while increasing potential profit.
         >>> Show OTE (Optimal Trade Entrance) Crossing - Labels: With this setting checked, you will be alerted when price crosses the OTE (Optimal Trade Entrance) lines. [To setup the Alert: Right-click the chart > Add alert > Condition: EMA Cloud Scalping / ∫x Any alert() function call > Create].
         >>> Show historical OTE lines: Show previous OTE (Optimal Trade Entrance) lines.
         >>> Extend OTE lines/labels by # of bars: Extends OTE (Optimal Trade Entrance) lines and labels ahead by the # of bars entered here, originally default it was 5, otherwise it's simply a matter of preference.
         >>> OTE - Style: 'mid': OTE (Optimal Trade Entrance) line will be place exactly at the middle of previous candle bar | '1/3': There will be 2 OTE (Optimal Trade Entrance) lines at 1/3 of the previous candle bar, the top one for Short trades and the bottom one for Long trades.
         >>> OTE 1/3(↑) - Bullish Color | OTE 1/3(↓) - Bearish Color | OTE mid - Color: Colors of '1/3(↑↓)' style OTE (Optimal Trade Entrance) lines for bullish/bearish trades.
         >>> Turn on OTE (Optimal Trade Entrance) - Alerts: With this setting checked, you will be alerted when price crosses the OTE (Optimal Trade Entrance) lines. [To setup the Alert: Right-click the chart > Add alert > Condition: EMA Cloud Scalping / ∫x Any alert() function call > Create].
         >>> Bar Colors reflecting very short-term sentiment: This is combination of EMA Cloud itself moving up/down from last Candle Bar AND current Candle Bar highest and lowest points being higher/lower than previous one. (Lime: Bullish | Maroon: Bearish).
         >>> OTE Crossing previous Bar Color/Sentiment Confirmation: With this setting turned on, both OTE Style Crossing Labels will show/alert ONLY if confirmed by previous candlestick bar sentiment (bullish/bearish[📈/📉]). For example, if previous candlestick bar is Lime (Bullish) - 'mid' OTE Style Crossing Label will show 📈(↑) (with this setting turned off - it will show both directions label (↑↓), where you have to decide which way to open the trade); Similar, for '1/3(↑↓)' OTE Style, with previous bar being Lime (Bullish) - it will ONLY show 📈(↑) Crossing Label and skip the (↓), even if the crossing condition for (↓) occurs, same way it will show 📉(↓) only if previous candlestick bar is Maroon (Bearish).
  
  
  

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Setting Up and Reading Alerts

• Adding Alerts in TradngView:
  -Add indicator to chart
  -Under indicator Settings > Inputs, turn on/check[x] each Alert setting as needed
  -Right-click anywhere on the TradingView chart
  -Click on Add alert
  -Condition: Select this indicator by it’s name
  -Immediately below, change it to "alert() function calls only", as other wise there will be 2 alerts for every alert!
  -Expiration: Open-ended (that may require higher tier TradingView account, otherwise the alert will need to be occasionally re-triggered)
  -Alert name: Anything
  -Hit “Create”
  -Note: If ANY Settings within the indicator will be changed > DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
  

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