The Ultimate Scalper is another indicator in the grail collection.It is the perfect tool for scalping. This indicator works on all timeframes and it is a reliable and solid indicator.
The indicator has an inbuilt volume divergence filter. To use this filter, you just need to go the settings in the input tab and switch to either True or False. If you switch to False, it means you are not using the filter. And if you switch to True, it means you are using the filter.
The signal comes at the open of the candle. It is advisable to use this indicator on 5 min charts and above for the best results. When using the Volume Divergence filter or the RSI filter, it increases the accuracy of the indicator, but you will get fewer trades.
This indicator gives accurate and early signals for 60 seconds trades too. It could be loaded on 1 or 5minute charts to trade 1 minute expiries. For higher expiries, the indicator should be loaded on higher timeframes.
The main function of this indicator is to predict the direction of the current candle, and this indicator gives an alert at the open of the candle. So, when choosing a chart timeframe, you should note that the signal is more or less valid only for the immediate candle or that the strength of the signal lasts only for one candle. For example on 5minute charts, when you get a sell signal at the open of the candle, this signal is only valid of the next 5 minutes. This is how the indicator works.