Trend Scalp MTF Alert Indicator was built based on T3 Smoothed Moving Average. Besides signaling the market trend, it also identifies the overbought and oversold conditions of the market.
As a trader, you should go for long when the market turns bullish from an oversold condition and go short when the market turns bearish after signaling the overbought condition.
• The colored dots appear below the neutral level of the indicator
• The value of the indicator turns positive
• Set stop loss below the current low of the market
• Exit long/take profit whenever the indicator value turns negative
• The colored dots appear above the neutral level of the indicator
• The value of the indicator turns negative
• Set stop loss above the current high of the market
• Exit short/take profit whenever the indicator value turns positive