Best Chart Type for Scalping

 

For scalping, the most effective chart types and timeframes are those that show short-term price action with high clarity and speed. Here's a breakdown of what’s best:

---

✅ Best Chart Type for Scalping

1. Candlestick Chart

   • Why: Shows open, high, low, and close (OHLC) in a clear and fast way.

   • Benefit: Helps identify patterns like pin bars, engulfing candles, and price momentum.

2. Heikin Ashi (optional)

   • Why: Smooths out the trend.

   • Benefit: Useful if you're riding a short trend, though it's slightly delayed.

---

✅ Best Timeframes for Scalping

1. 1-Minute (M1) Chart

   • Best for ultra-fast scalping (entry/exit in 1–5 mins).

   • Requires quick decision-making and fast execution.

2. 3-Minute (M3) or 5-Minute (M5) Chart

   • Slightly slower, more stable than 1-minute.

   • Better for spotting short-term trends or patterns.

3. 15-Second (if available)

   • Some advanced platforms (like TradingView premium) offer 15-sec charts.

   • Great for ultra-precise entry.

---

🧠 Bonus Tips:

• Use VWAP, RSI, MACD, and Supertrend for better entry signals.

• Look for volume spikes—they often lead to quick price moves.

• Always keep stop-loss and target levels tight (like 0.3%–0.5%).

---

🧾 Example Setup:

• Chart: 1-Minute Candlestick

• Indicators:

  • Supertrend (for trend direction)

  • RSI (overbought/oversold confirmation)

  • VWAP (price relative to average)

  • MACD (momentum check)