Scalpel
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1.Getting started
  • Install Scalpel on Windows
  • Install Scalpel on a Mac
  • Activate your Scalpel licence
  • Connect Scalpel to Interactive Brokers
  • Enable the API in TWS and IB Gateway
  • The IBKR market data you need for Level 2
  • Your first 15 minutes in SIM
  • A tour of the Scalpel cockpit
  • What Scalpel is for, and what it is not
2.Desks and layout
  • Load symbols onto desks
  • Add, remove and resize desks
  • Panel settings: Level 2, tape and chart
  • Set up Scalpel for one, two or three screens
  • Desk badges: DELAYED, NO DATA, STALE and HALTED
3.Reading the market
  • How to read Level 2 in Scalpel
  • Spot iceberg orders on Level 2
  • Read the time and sales tape
  • Hear the tape: tape sound
  • The chart: timeframes, VWAP, EMAs, MACD and delta
  • The read line and the chart read bar
  • Read the players on Level 2: venues, refills and size
4.Placing trades
  • Sizing presets: shares, dollars or risk
  • Trade a fixed dollar risk with Risk (Cents)
  • Hotkeys: the defaults and how to change them
  • Entries: marketable limits, offsets and partial fills
  • Scale out and flatten
  • The order bar and orders panel
5.Stops and targets
  • How Scalpel's stops work
  • Move your stop and target on the chart
  • Breakeven and trailing stops
  • R multiples: how Scalpel measures a trade
  • Stops in the pre-market: why they cannot sit on the book
6.SIM and LIVE
  • Paper trading with SIM
  • Switch to LIVE safely
  • Commissions: pick your IBKR plan
  • Analytics: review your trading
7.Risk controls
  • Set a daily loss limit (the kill-switch)
  • Fat-finger and max-position caps
  • Why Scalpel is long-only
8.Scanner
  • Set up the IBKR scanner
  • Scan types: momentum, running up and setups
  • Scan the pre-market
  • Shares out, short interest and the squeeze score
  • Arrange scan panels
9.Intel: borrow, dilution and catalysts
  • Turn on intel
  • Check a stock for dilution before you buy
  • Borrow, short fees and squeeze setups
  • Why is it moving? Catalyst grading
  • Every intel chip, explained
  • Warrant and offering lines on the chart
  • The dilution entry guard
10.Audio and alerts
  • Voice callouts and sounds
  • Alerts and toasts
11.Settings reference
  • Settings: Connection
  • Settings: Trading
  • Settings: Stops
  • Settings: Risk
  • Settings: Sizing
  • Settings: Appearance
  • Settings: Audio
  • Settings: Hotkeys
  • Settings: Intel
  • Settings: About
12.Licence, updates and account
  • Move your licence to a new computer
  • Updates: how Scalpel updates itself
  • Try new features early: the beta channel
  • Refunds, invoices and billing
  • Earn with the referral program
  • Get help on Discord
13.Troubleshooting
  • Scalpel says Disconnected: fix the IBKR connection
  • TWS is running but not accepting the connection
  • TWS signs out when IB Gateway starts
  • Delayed data, NO DATA or STALE, or Depth unavailable
  • A LIVE order was rejected
  • An order did not fill, or only part filled
  • Scan panels say the IBKR scanner is off or waiting
  • Licence: machine limit reached
  • Licence: Scalpel cannot reach scalpeltrade.com
  • Windows protected your PC: installing Scalpel
  • An update did not install, or Scalpel went back a version
  • The chart or app window is blank
  • The order bar is greyed out
  • No callouts or tape sound
  • Intel shows nothing or SEC filings are off
14.Tips and tricks
  • 40 Scalpel tips for faster, safer scalping
  • A pre-market routine with Scalpel
  • Trade without touching the mouse
  • Settings for a small account
  • Your first week: a SIM practice plan
  • The momentum method Scalpel is built around
15.Glossary
  • Day trading glossary
Scalpelscalpeltrade.comA keyboard-first scalping cockpit for Interactive Brokers.
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Trading involves substantial risk of loss. Scalpel is software, not investment advice. LIVE mode places real orders in your Interactive Brokers account. No warranty. Simulated or replayed results do not guarantee future results. Scalpel is independent software and is not affiliated with, endorsed by or sponsored by Interactive Brokers LLC. IBKR and TWS are trademarks of their respective owners. Figures shown on this site are demo data, not live quotes. Scalpel is sold by QUITE RIGHT LIMITED, registered in England and Wales, company number 17053815. Copyright 2026.

    All guides
    1.Getting started
    • Install Scalpel on Windows
    • Install Scalpel on a Mac
    • Activate your Scalpel licence
    • Connect Scalpel to Interactive Brokers
    • Enable the API in TWS and IB Gateway
    • The IBKR market data you need for Level 2
    • Your first 15 minutes in SIM
    • A tour of the Scalpel cockpit
    • What Scalpel is for, and what it is not
    2.Desks and layout
    • Load symbols onto desks
    • Add, remove and resize desks
    • Panel settings: Level 2, tape and chart
    • Set up Scalpel for one, two or three screens
    • Desk badges: DELAYED, NO DATA, STALE and HALTED
    3.Reading the market
    • How to read Level 2 in Scalpel
    • Spot iceberg orders on Level 2
    • Read the time and sales tape
    • Hear the tape: tape sound
    • The chart: timeframes, VWAP, EMAs, MACD and delta
    • The read line and the chart read bar
    • Read the players on Level 2: venues, refills and size
    4.Placing trades
    • Sizing presets: shares, dollars or risk
    • Trade a fixed dollar risk with Risk (Cents)
    • Hotkeys: the defaults and how to change them
    • Entries: marketable limits, offsets and partial fills
    • Scale out and flatten
    • The order bar and orders panel
    5.Stops and targets
    • How Scalpel's stops work
    • Move your stop and target on the chart
    • Breakeven and trailing stops
    • R multiples: how Scalpel measures a trade
    • Stops in the pre-market: why they cannot sit on the book
    6.SIM and LIVE
    • Paper trading with SIM
    • Switch to LIVE safely
    • Commissions: pick your IBKR plan
    • Analytics: review your trading
    7.Risk controls
    • Set a daily loss limit (the kill-switch)
    • Fat-finger and max-position caps
    • Why Scalpel is long-only
    8.Scanner
    • Set up the IBKR scanner
    • Scan types: momentum, running up and setups
    • Scan the pre-market
    • Shares out, short interest and the squeeze score
    • Arrange scan panels
    9.Intel: borrow, dilution and catalysts
    • Turn on intel
    • Check a stock for dilution before you buy
    • Borrow, short fees and squeeze setups
    • Why is it moving? Catalyst grading
    • Every intel chip, explained
    • Warrant and offering lines on the chart
    • The dilution entry guard
    10.Audio and alerts
    • Voice callouts and sounds
    • Alerts and toasts
    11.Settings reference
    • Settings: Connection
    • Settings: Trading
    • Settings: Stops
    • Settings: Risk
    • Settings: Sizing
    • Settings: Appearance
    • Settings: Audio
    • Settings: Hotkeys
    • Settings: Intel
    • Settings: About
    12.Licence, updates and account
    • Move your licence to a new computer
    • Updates: how Scalpel updates itself
    • Try new features early: the beta channel
    • Refunds, invoices and billing
    • Earn with the referral program
    • Get help on Discord
    13.Troubleshooting
    • Scalpel says Disconnected: fix the IBKR connection
    • TWS is running but not accepting the connection
    • TWS signs out when IB Gateway starts
    • Delayed data, NO DATA or STALE, or Depth unavailable
    • A LIVE order was rejected
    • An order did not fill, or only part filled
    • Scan panels say the IBKR scanner is off or waiting
    • Licence: machine limit reached
    • Licence: Scalpel cannot reach scalpeltrade.com
    • Windows protected your PC: installing Scalpel
    • An update did not install, or Scalpel went back a version
    • The chart or app window is blank
    • The order bar is greyed out
    • No callouts or tape sound
    • Intel shows nothing or SEC filings are off
    14.Tips and tricks
    • 40 Scalpel tips for faster, safer scalping
    • A pre-market routine with Scalpel
    • Trade without touching the mouse
    • Settings for a small account
    • Your first week: a SIM practice plan
    • The momentum method Scalpel is built around
    15.Glossary
    • Day trading glossary
    Guides/11. Settings reference

    Guide 11.10

    Settings: About

    Intermediate, 4 min read. Checked with Scalpel 1.12.8 on October 15, 2026.

    In short

    The About tab shows your Scalpel version and build, your licence status with a Manage licence and computers button, and the update controls: the channel (Stable by default, or Beta for early builds), Download updates automatically (on), the updater's status, Check for updates, and Go back to the previous version when it is still kept. The credits for the charts, fonts and broker library are at the bottom.

    This is the tab to open when support asks which version you run, or when you want an update now. Open Settings (Ctrl+,) and pick About.

    Settings
    ConnectionTradingStopsRiskSizingAppearanceAudioHotkeysIntelAbout
    Scalpel
    v1.12.6 (4f2c9a1)
    A keyboard-first day-trading cockpit for Interactive Brokers. Market data and orders go through your own TWS or IB Gateway; nothing leaves your machine except the optional intel lookups you switch on.
    Licence
    Licensed (SCLP-****-****-****-7F3K). Active on 1 of 2 computers.
    Manage licence and computers
    Updates
    ChannelStable
    Download updates automatically
    Scalpel checks for a new version when it starts and every 30 minutes. It never installs on its own while you trade: you choose when to restart, or let it install when you quit.
    Scalpel 1.12.6 is up to date (checked 12 minutes ago).
    Check for updatesGo back to 1.12.5
    CancelApply
    The About tab: the version and build, the licence, and Updates. Demo data.

    Scalpel

    The first line is your version and build, for example v1.12.6 (4f2c9a1): the version number, then the code revision it was built from. Quote both when you ask for help in Discord. The note under it reads: "Market data and orders go through your own TWS or IB Gateway; nothing leaves your machine except the optional intel lookups you switch on."

    Licence

    ItemWhat it tells youWhat to do with it
    Status lineLicensed with the last four characters of your key, then how many of your licence's computers it is active on, for example Active on 1 of 2 computers. If Scalpel could not reach scalpeltrade.com, it says it checked offline and how long it can keep running before it must reach the site.Nothing while it says Licensed. If it counts down an offline period, check your internet connection.
    Manage licence and computersOpens your account page at scalpeltrade.com in the browser, where you see your key and free up a computer.Use it before you move to a new computer.

    Scalpel checks the licence when it starts and every 12 hours, and keeps running on its last check for up to 72 hours offline. A licence problem never interrupts a session. See guide 1.3 and guide 12.1.

    Help

    Four buttons open help in your browser: Guides (these pages), Troubleshooting (fixes for common problems), Help on Discord and Email support. The same links, plus getting started, the hotkey cheatsheet and what is new, are in the Help menu in the header. Every Settings tab also has a guide link at the top of the window that opens that tab's page here.

    Updates

    OptionWhat it doesDefaultAllowed valuesWhen to change it
    ChannelWhich releases you get. Stable is for everyone; Beta (early builds) gets new versions first.StableStable, Beta (early builds)Beta only if you want new features early and can live with the odd rough edge. See guide 12.3.
    Download updates automaticallyDownloads a new version in the background as soon as it is found. Off: the status bar says an update is available and it downloads when you click.OnOn or offOff on a slow or metered connection.

    The note reads: "Scalpel checks for a new version when it starts and every 30 minutes. It never installs on its own while you trade: you choose when to restart, or let it install when you quit." The first check comes within a minute of starting, then every 30 minutes.

    Under it, the status line says where the updater is, for example:

    • Scalpel 1.12.6 is up to date (checked 12 minutes ago).
    • Downloading version 1.12.7 (40%).
    • Version 1.12.7 is ready. It installs when you restart Scalpel.
    • The last update failed: and the reason.

    Check for updates checks now. Go back to 1.12.5 appears when the previous version is still kept: it restores it and restarts Scalpel. Both restarts are refused while you have an open position, a working order or a live stop, because Scalpel watches your stops and that stops while it restarts. Close them first, or choose to update when you quit. More in guide 12.2.

    Careful

    An update or a go-back restarts Scalpel, and app-monitored stops are not watched while it is closed. Scalpel will not restart for either while anything is open; do not force-close it mid-trade to get round that.

    Credits

    Scrolled down, the tab credits the open-source work Scalpel is built on: TradingView's free, open-source Lightweight Charts library for the desk charts (no TradingView subscription needed), JetBrains Mono and Chakra Petch fonts, Lucide icons, and the rust-ibapi broker library. It also states that Interactive Brokers, TWS and IB Gateway are trademarks of Interactive Brokers LLC and that Scalpel is independent software, not affiliated with or endorsed by Interactive Brokers. The full list is in THIRD_PARTY_NOTICES.md next to the application.

    Settings
    ConnectionTradingStopsRiskSizingAppearanceAudioHotkeysIntelAbout
    Charts
    The desk charts are drawn with TradingView Lightweight Charts, copyright TradingView, Inc., used under the Apache License 2.0.
    tradingview.com
    Fonts and icons
    JetBrains Mono and Chakra Petch (SIL Open Font License 1.1). Lucide icons (ISC).
    Broker connectivity
    rust-ibapi (MIT). Interactive Brokers, TWS and IB Gateway are trademarks of Interactive Brokers LLC; Scalpel is independent software and is not affiliated with or endorsed by Interactive Brokers.
    The full list of open-source packages and their licenses is in THIRD_PARTY_NOTICES.md next to the application.
    CancelApply
    Scrolled down: the credits for the charts, fonts and icons, and the broker library.

    What can go wrong

    • "Updates are off in this build." A development build does not update itself; release builds from scalpeltrade.com do.
    • The status says the last update failed. See An update did not install, or Scalpel went back a version.
    • The licence line says no licence key is on this computer. Activate it again from your account page; see Licence: machine limit reached if it says the limit is reached.

    Questions

    How do I check my Scalpel version?
    Open Settings > About. The first line is the version and build, for example v1.12.6 (4f2c9a1).
    How do I update Scalpel now?
    Open Settings > About and click Check for updates. When the status says the version is ready, restart Scalpel, or let it install when you quit.
    Can I go back to the previous version?
    Yes, while it is still kept: Settings > About shows Go back to that version. It restarts Scalpel, so close your positions and orders first.
    How often does Scalpel check for updates?
    When it starts, then every 30 minutes while it runs. Click Check for updates on Settings > About to check now.
    Will Scalpel restart for an update while I am in a trade?
    No. It refuses while you have an open position, a working order or a live stop, and offers to install when you quit instead.

    Related guides

    Guide 12.2Updates: how Scalpel updates itselfScalpel downloads updates in the background and installs only when you choose: Update ready, What's new, restart or install on quit, and going back.Guide 1.3Activate your Scalpel licenceFind your licence key, paste it into Scalpel's licence screen and start trading. How the two-computer limit, 12-hour check and 72-hour offline grace work.Guide 12.3Try new features early: the beta channelSwitch Scalpel to the Beta channel to get new builds before everyone else, what to expect from a beta, and how to go back to Stable when you want to.
    Previous: 11.9Settings: IntelNext: 12.1 Move your licence to a new computer
    Practice in SIM, against the live book.A lifetime license, every update included, with a 7-day refund guarantee.Ask in DiscordGet Scalpel
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