Fashionably Late ScalpFashionably Late Scalp — FL Scalp
The Fashionably Late Scalp is an intraday momentum strategy originally developed by SMB Capital. This indicator fully automates the setup detection, entry signal, and trade management levels directly on your chart.
📖 How the Strategy Works
The edge behind this scalp is momentum divergence followed by convergence:
A stock "In Play" makes a sustained move in one direction, causing the 9 EMA and VWAP to diverge
Price puts in a distinct low (for longs) or distinct high (for shorts) — known as "The Turn"
Price begins retracing, and the 9 EMA starts converging back toward VWAP
The entry trigger fires when the 9 EMA crosses VWAP — you are entering fashionably late, after the momentum is already confirmed and building
🎯 Entry, Stop & Target Rules
Long entry: Upsloping 9 EMA crosses above a flat-to-downsloping VWAP
Short entry: Downsloping 9 EMA crosses below a flat-to-upsloping VWAP
Stop Loss: 1/3 of the distance from the cross point back to the divergence extreme (tight stop — momentum should be on your side immediately)
Take Profit: 1 full measured move above (or below) the cross point — equal to the distance from the divergence low/high to the entry
R:R is calculated dynamically based on your actual entry price (close of the signal candle), so it reflects the real risk/reward of each specific setup
⚙️ Indicator Features
✅ Session filter — signals only fire during regular market hours (9:30 AM – 4:00 PM ET, configurable)
✅ One trade at a time — no new signal fires while a trade is still open; waits for TP or SL to be hit first
✅ Auto TP/SL lines — drawn at signal time and automatically trimmed when the trade closes
✅ TP & SL hit markers — labels placed on the bar where price touched the level
✅ Live dashboard — shows trade state, entry price, active TP/SL, real-time R:R, EMA/VWAP slope, and divergence phase
✅ Timestamp-anchored objects — all lines and labels use xloc.bar_time so they never shift when zooming
✅ 5 alert conditions — Long signal, Short signal, Any signal, TP hit, SL hit
✅ Slope filters — EMA must be sloping in the signal direction; VWAP must be flat or opposite
⚠️ Best Timeframes
Designed for intraday scalping on 1-minute or 2-minute charts. Works best on stocks that are In Play — significant news catalyst, elevated relative volume (3× or more), and trading near a key technical level.
This indicator is for educational purposes only and does not constitute financial advice. Past performance of any strategy is not indicative of future results. Always use proper risk management.
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