Scalping Counter Trend strategy

– On the basis of a program written by Leo entitled “LEO MOVING AVERAGE” I propose a simple strategy to initiate positions in “Against Trend” on detection of new higher or lower …

– The program displays the maximum and minimum levels, indicates the position and the direction of the input with a planned Stop Loss indicating the extreme points. It colors the background trend on the unit of time used in blue if the asset is bullish or yellow if it is bearish. A simple 200-period moving average was added to validate the medium-term trend …

Variables make it possible to adapt this strategy to your liking:

• “Period” Value of LMA moving average
• “Offset” Adjust distance text Stop Loss of the candle
• “Color” Adjusting temperature background color
• “BackColor” Mask the background color (visual option)
• “Text” Hidden text “Stop Loss”

// Scalping Counter Trend | Graph Indicator
// 06.03.2019 (Release 1.0)
// Swapping @ www.forexswap.fr
// Sharing ProRealTime knowledge (alt+16)
// Program adapted from "LEO MOVING AVERAGE" indicator created by LEO contributer of website ProrealCode.com

// --- Property Settings ---
Period    = 20 // (Value Leo Moving Average)
Offset    = 12 // (offset text candle)
Color     = 33 // (transparency background)
BackColor = 1  // 0=true; 1=false (option background color)
Text      = 1  // 0=false; 1=true (option text hidden)
// --- end

color = max(color,0)   // Limited input "Max-Min" data
color = min(color,255)

// supports and resistances
once support = low
once resistance = high

LMA = 2*weightedaverage[period](close)-average[period](close)
smoothLMA = weightedaverage[period](LMA)
sma = average[200](customclose)

// ---> Storage of minimums and maximums
if barindex > 1 then
 if low < lowest[period](low[1]) then
  mintemp = low            // minimum temporal
  posmintemp = barindex    // position of minimum temporal
  direction = 1            // Background Color Chart and Segment
  if direction = 1 then
  endif
 endif
 if high > highest[period](high[1]) then
  maxtemp = high           // maximum temporal
  posmaxtemp = barindex    // position maximum temporal
  direction = -1           // Background Color Chart and Segment
  if direction = -1 then
  endif
 endif
endif

// ---> Background Color Chart with (enable or disable) condition
if BackColor = 1 and direction < 0 then
 BackGroundColor(0,255,255,color) // Bullish blue
else
 BackGroundColor(255,255,0,color) // Bearish yellow
endif

if BackColor = 0 then               // BackgroundColor disabled
 BackGroundColor(0,0,0,0)
endif

if LMA crosses over smoothLMA then  // --> Detecting and locating a local minimum
 LEVMIN = mintemp
 POSLEVMIN = posmintemp
 support = LEVMIN
 //DrawArrowUp(POSLEVMIN+0,LEVMIN-2) coloured(20,200,0,170)  // Option Arrow Up
 DrawText("•",poslevmin,levmin-offset*0.2,Serif,Bold,16) coloured(33,200,33) // Glyphe alt+7
 if Text = 1 then
  DrawText("SL #levmin#",poslevmin,levmin-offset,SansSerif,Bold,11) coloured(33,200,33)
 endif
elsif LMA crosses under smoothLMA then // --> Detecting and locating a local maximum
 LEVMAX = maxtemp
 POSLEVMAX = posmaxtemp
 resistance = LEVMAX
 //DrawArrowDown(POSLEVMAX+0,LEVMAX+2) coloured(200,20,0,170)  // Option Arrow Down
 DrawText("•",poslevmax,levmax-offset*0.2,Serif,Bold,16) coloured(200,33,33) // Glyphe alt+7
 if Text = 1 then
  DrawText("SL #levmax#",poslevmax,levmax+offset,SansSerif,Bold,11) coloured(200,33,33)
 endif
endif

support = min(low,support)
resistance = max(high,resistance)

return LMA as " LMA", resistance coloured by resistance as " Resistance", support coloured by support as " Support", smoothLMA coloured by smoothLMA as " smoothLMA", sma coloured by sma as " SMA"