TTM Scalper Reversal Signals and Delayed Confirmation

Summary

This script approximates John Carter’s TTM scalper buy and sell method using recent closing-price patterns. A sequence of comparisons identifies potential reversal points, and the indicator alternates between bullish and bearish states, plotting a level at the relevant bar’s high or low. The strategy enters long or short according to that state, with an option to reverse the direction.

The accompanying note says plotted reversal markers are confirmed only after a third bar, so they do not appear in real time; that confirmation delay matters when interpreting entries and backtests. The document supplies script logic but no test period, market, trade statistics, or performance analysis. It also labels the script educational and says it changes bar colors, so the material explains a signal construction rather than establishing profitability or a complete risk-management approach.

Key ideas

• Recent closing-price comparisons generate alternating potential buy and sell reversal states.
• The signal level is plotted using the high or low associated with the reversal.
• Reversal markers appear only after a third bar confirms the pattern, creating a delay.
• An input can invert the long and short directions.
• The document provides no backtest results or defined risk controls.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.