OPEN-SOURCE SCRIPT
ZLT - Hyperscalp - Test
What This Strategy Does - Complete Overview
This is a professional scalping strategy designed for fast-moving markets like NAS100 (NASDAQ 100). It's built to catch quick price bounces when the market pulls back too far in a trending move.
The Big Picture
Think of it like a rubber band strategy: When price stretches too far from its average (like pulling a rubber band), it tends to snap back. This strategy identifies those stretched moments and enters trades expecting the "snap back" to happen.
Step-by-Step How It Works
1. First, it identifies the overall trend (Higher Timeframe Analysis)
Looks at a bigger picture (15-30 minute chart)
Uses two moving averages (50 EMA and 200 EMA)
Only trades WITH the trend, never against it
2. Then waits for a pullback (The Setup)
In an uptrend: Waits for price to dip below the lower Keltner Channel
In a downtrend: Waits for price to spike above the upper Keltner Channel
Also checks if RSI shows oversold (longs) or overbought (shorts)
3. Looks for reversal signs (The Trigger)
RSI starting to turn back (crossing 50)
Price crossing back into normal range
Momentum shifting back toward the trend
4. Filters out bad trades (Quality Control)
ADX must be above threshold (trending market, not choppy)
Volatility must be in acceptable range (not too quiet, not too crazy)
Only trades during specified hours (liquid sessions)
Enforces cooldown periods between trades
5. Manages the position (Risk Management)
Sets initial stop loss based on ATR (market volatility)
Moves stop to breakeven when trade goes in profit
Activates trailing stop to protect profits
Takes profit at predetermined target (1.2x risk by default)
Three Built-in Presets for NAS100
🔴 Aggressive (1-minute charts)
More trades, quicker entries
Tighter stops, faster action
For experienced scalpers
🟡 Balanced (3-minute charts)
Moderate frequency
Balanced risk/reward
Good starting point
🟢 Conservative (5-minute charts)
Fewer, higher-quality trades
Wider stops, bigger targets
For cautious traders
Why It Works
The strategy exploits three market tendencies:
Mean reversion: Extreme moves tend to reverse
Trend continuation: Overall trends tend to persist
Momentum patterns: RSI extremes often mark turning points
Best Used For
Markets: Indices like NAS100, S&P 500
Timeframes: 1-5 minute charts
Conditions: Trending markets with good volatility
Style: Day trading/scalping (quick in-and-out trades)
Key Features
No repainting: Signals are final once they appear
Automatic position sizing: Uses percentage of equity
Multiple safety checks: Prevents overtrading
Visual indicators: Shows entry points, trend lines, and channels
Alerts: Can notify you when trades trigger
The Bottom Line
This strategy is like having a systematic trader who:
Only buys dips in uptrends
Only sells rallies in downtrends
Waits for extreme stretches
Enters when price starts snapping back
Manages risk automatically
Prevents emotional overtrading
It's designed to take many small, controlled bites rather than swinging for home runs. Perfect for active traders who want systematic, rule-based entries and exits.
This is a professional scalping strategy designed for fast-moving markets like NAS100 (NASDAQ 100). It's built to catch quick price bounces when the market pulls back too far in a trending move.
The Big Picture
Think of it like a rubber band strategy: When price stretches too far from its average (like pulling a rubber band), it tends to snap back. This strategy identifies those stretched moments and enters trades expecting the "snap back" to happen.
Step-by-Step How It Works
1. First, it identifies the overall trend (Higher Timeframe Analysis)
Looks at a bigger picture (15-30 minute chart)
Uses two moving averages (50 EMA and 200 EMA)
Only trades WITH the trend, never against it
2. Then waits for a pullback (The Setup)
In an uptrend: Waits for price to dip below the lower Keltner Channel
In a downtrend: Waits for price to spike above the upper Keltner Channel
Also checks if RSI shows oversold (longs) or overbought (shorts)
3. Looks for reversal signs (The Trigger)
RSI starting to turn back (crossing 50)
Price crossing back into normal range
Momentum shifting back toward the trend
4. Filters out bad trades (Quality Control)
ADX must be above threshold (trending market, not choppy)
Volatility must be in acceptable range (not too quiet, not too crazy)
Only trades during specified hours (liquid sessions)
Enforces cooldown periods between trades
5. Manages the position (Risk Management)
Sets initial stop loss based on ATR (market volatility)
Moves stop to breakeven when trade goes in profit
Activates trailing stop to protect profits
Takes profit at predetermined target (1.2x risk by default)
Three Built-in Presets for NAS100
🔴 Aggressive (1-minute charts)
More trades, quicker entries
Tighter stops, faster action
For experienced scalpers
🟡 Balanced (3-minute charts)
Moderate frequency
Balanced risk/reward
Good starting point
🟢 Conservative (5-minute charts)
Fewer, higher-quality trades
Wider stops, bigger targets
For cautious traders
Why It Works
The strategy exploits three market tendencies:
Mean reversion: Extreme moves tend to reverse
Trend continuation: Overall trends tend to persist
Momentum patterns: RSI extremes often mark turning points
Best Used For
Markets: Indices like NAS100, S&P 500
Timeframes: 1-5 minute charts
Conditions: Trending markets with good volatility
Style: Day trading/scalping (quick in-and-out trades)
Key Features
No repainting: Signals are final once they appear
Automatic position sizing: Uses percentage of equity
Multiple safety checks: Prevents overtrading
Visual indicators: Shows entry points, trend lines, and channels
Alerts: Can notify you when trades trigger
The Bottom Line
This strategy is like having a systematic trader who:
Only buys dips in uptrends
Only sells rallies in downtrends
Waits for extreme stretches
Enters when price starts snapping back
Manages risk automatically
Prevents emotional overtrading
It's designed to take many small, controlled bites rather than swinging for home runs. Perfect for active traders who want systematic, rule-based entries and exits.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.