Bar Scalper Features - Very High Edge trading system with entry, exit and stop placement
What makes Bar Scalper so valuable for traders? It’s unique market data visualization along with Very High Edge trading system with entry, exit and stop placement analysis. It includes instruments that give you an advantage in the market, providing clarity on what’s happening so that you can make better decisions. Using the right tools and continuously improving your skills will win you this game called trading.
Indicator
Green is Buyer, Red is Seller and Yellow is both Buyer and Seller.
Lines 1, 2 and 3 will help you answer the three below questions.
- Who is probably in control at that point of time?
We are trying to answer this question based on identifying new buyers or sellers and “how steadily the market is moving” in the identified direction. Please check the probabilities table below.
2. Did we identify any new Buyer or New Seller?
This is identified based on probabilities built out of order flow analysis. This analysis is a continues process to identify the activity of buying and selling bots.
3. Who is probably winning or getting paid?
We are measuring this with the use of very short-term-swings and sweeps in the market.
Understanding the “Control change probability table”
This analysis is performed on ES with a sample data of around 21,000 occurrences.
Row 1: Says 78% of the time market will move in the identified direction without moving back 1 ES point before identifying the opposing force.
Row 2: Says 15% of the time marker does not identify opposing force before it moves 1 ES point against the identified direction. If the market moves 1 ES point against the identified direction, we treat this event as a failure and reverse the control. After reversing the control 68% of the time market stays in that direction.
Example:
Buyers are identified, but the market went down 1 ES point without finding a new Seller. We will consider this as the Buyers have tried to move the market UP. All the buying was observed by sellers and the sellers are able to move the market Down. So, we change the control to Sellers. Now the sellers were able to hold the price Down for about 68% of the time.
Control Change probabilities from buyer to seller or seller to buyer with or without identifying new buyers or sellers. This analysis is performed on S & P E-Mini futures.
Order Flow Analysis Level Buyers and Sellers
This trading system continuously performs analyses on BID and ASK along with Trade Volume to build probabilities. It uses the recent past probabilities to compare with current data to identify New Buyers or New Sellers. This continuous process keeps the system aligned with the market.
Black Line:
This is where the new buyer or seller showed up. It will stay black till another new buyer or seller shows up. Check the new buyer or new seller indication on the indicator to see whether the black line is a new buyer or seller.
Green line:
Previously identified buyers at that price.
Red Line:
Previously identified sellers at that price.
Swing Level Analosis Buyers and Sellers
This is purely based on price action Swings along with the control shifts from buyer to seller and seller to the buyer.
We have generated probabilities based on the swings and using them to identify control shifting between buyers and sellers.
This system will use swing level higher highs, lower lows double tops, double bottoms, and market sweeps or clear one-way auction for a defined distance.
Green thick line:
Price location where buyers initiated to make swing level Higher High or buyer sweep the book to make double high
Red thick Line:
Price location where sellers initiated to make swing level Lower Low or seller sweeps the book to make a double bottom