Crodl Scalper Was built for the purpose to automate trades on a lower timeframe using our trading Bot. although after testing it for several months we have discovered that using it on the 1 Hour time frame that is a lot more profitable. In this course we will be sharing how you can use the indicator to your advantage.
As you can see above it is calling very good Swing trades because it is on the 1 hour time Frame.
On the left you will see there is a bit of chop so that means that there are a few entries that are not very great calls. so how can you risk as little as possible and still catch the big moves?
By placing your stop loss under the previous candle when getting a flag you are risking almost nothing and you gain potential is huge. This is why the chop won’t affect you because your winning trades are massive.
When using this strategy it is best not to compound, why you may ask.
Because when leverage trading you are already risking a lot more then spot trading and compounding is made for slow big gains so when you are trading volatile markets you do not want to compound as losses will happen. If you win 3 trades in a row and take one loss without decent risk management then the one loss will be bigger then all 3 of those profits if you are not taking big enough profits!
So this strategy works great with 10 x leverage and you can easily make 100% return with this strategy on a good call as shown above. and you were risking around 10% by placing your stop loss below the previous candle. so that gives you a 1:10 Risk reward ratio and with 10x leverage that is massive!
If you want to change the settings of the indicator but not sure how to check out our course on how to use tradingview
Why would you want to change settings?
If you want less flags or more flags , meaning to have the indicator faster or slower you can change the settings to lower or higher values.
For example Trend Average at 50 will give you a lot more flags then if it is set to 250 so which is better?
If you want longer accurate swing trades then a higher number is recommended and if you want quick scalps then you can use a lower value.
Just remember that your Time Frame also plays a big role in the size of your moves since a candle on the 4H has a lot more % move then one on the 5 Minute so that means that one good buy signal can give you a lot more Profit then one on the 5 Minute chart.
Support us by creating a trading account with our Link https://crodl.com/bybit
2021, Crodl - Discord Trading Community - Not Financial Advisors