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
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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 11.6

    Settings: Appearance

    Intermediate, 3 min read. Checked with Scalpel 1.12.8 on October 15, 2026.

    In short

    The Appearance tab changes how Scalpel looks, never how it trades: the theme (Dracula by default, or Dark, Light, Nord and Ferra), whether stop, target and position returns read in R or in percent, the UI scale from 70% to 125% (100% by default, also Ctrl+-, Ctrl+= and Ctrl+0), and zebra stripes on the scanner tables.

    Open Settings (Ctrl+,) and pick Appearance. Changes show when you click Apply or press Enter.

    Settings
    ConnectionTradingStopsRiskSizingAppearanceAudioHotkeysIntelAbout
    Appearance
    ThemeDracula
    Stops / TP returnsReturn (R)
    How stop, take-profit and position returns read on the chart chips and the orders table: R-multiples or percent of entry.
    UI scale100%
    Zooms the whole cockpit. Ctrl+/- steps by 5%; Ctrl+0 resets to 100%.
    Zebra stripes
    Zebra stripes shade alternate rows in the screener tables for readability.
    CancelApply
    The Appearance tab at its defaults: Dracula, returns in R, 100% scale, zebra stripes on.

    Every option

    OptionWhat it does for your tradingDefaultAllowed valuesWhen to change it
    ThemeThe colour scheme of the cockpit. It changes nothing about your orders.DraculaDark, Light, Dracula, Nord, FerraLight for a bright room; Dark or Nord if you prefer less colour. Pick what you can read for hours.
    Stops / TP returnsHow the chips on the chart's stop and target lines, the position badge and the orders table express a result. Return (R) is a multiple of your risk; Percent (%) is the move from your entry.Return (R)Return (R) or Percent (%)Stay on R if you size by risk: "+2.0R" says more about a trade than "+12.0%". Percent suits share-count traders who think in moves.
    UI scaleZooms the whole cockpit, text and panels together, in 5% steps.100%70% to 125%Lower it to fit more desks on one screen; raise it on a high-resolution monitor or if the text is small.
    Zebra stripesShades every other row in the scanner tables so your eye can follow a row across.OnOn or offTurn it off for a flatter look.

    The notes read: "How stop, take-profit and position returns read on the chart chips and the orders table: R-multiples or percent of entry." and "Zooms the whole cockpit. Ctrl+/- steps by 5%; Ctrl+0 resets to 100%."

    R or percent: the same trade both ways

    A 30c stop on a 5.00 entry, with the target at 2R:

    LineReturn (R)Percent (%)
    Stop at 4.70-1.0R-6.0%
    Target at 5.60+2.0R+12.0%

    R is explained in guide 5.4.

    The themes

    Settings
    ConnectionTradingStopsRiskSizingAppearanceAudioHotkeysIntelAbout
    Appearance
    ThemeDraculaDarkLightDraculaNordFerra
    Stops / TP returnsReturn (R)
    How stop, take-profit and position returns read on the chart chips and the orders table: R-multiples or percent of entry.
    UI scale100%
    Zooms the whole cockpit. Ctrl+/- steps by 5%; Ctrl+0 resets to 100%.
    Zebra stripes
    Zebra stripes shade alternate rows in the screener tables for readability.
    CancelApply
    The Theme list: five schemes, Dracula by default.

    Every theme is built to be read for hours. Body text, muted labels, prices and the buy and sell colours all keep at least a 4.5:1 contrast against the panels (the WCAG AA level for normal text). Filled buttons and tags pick dark or white text, whichever reads better on their colour, so a bright green buy button gets dark text and a deep one gets white.

    Light has its own set of data colours rather than the dark themes' bright ones on a white panel: deeper greens, reds, gold and cyan for prices and reads, and pale green and red fills behind dark text on the tape. Pick the theme that suits your room and your eyes; none of them changes what the colours mean.

    Zoom from the keyboard

    You do not need this tab to zoom. Ctrl+= zooms in and Ctrl+- zooms out by 5%, and Ctrl+0 goes back to 100%, at any time, even while a field has focus. On a Mac, use Cmd. The scale is saved and is the same on every screen. Laying desks out across monitors is in guide 2.4.

    Questions

    How do I make Scalpel's text bigger?
    Press Ctrl and = (Cmd and = on a Mac) to zoom in 5% at a time, up to 125%, or set UI scale on the Appearance tab. Ctrl and 0 goes back to 100%.
    Can I show stop and target returns in percent?
    Yes. Set Stops / TP returns to Percent (%) on the Appearance tab. The chart chips, the position badge and the orders table then show the move from your entry.
    Does the theme or zoom change anything about my orders?
    No. Appearance settings only change how the cockpit looks. Sizes, stops and caps are on the Sizing, Stops and Risk tabs.
    Is there a light theme?
    Yes, Light, with deeper data colours so prices and reads stay sharp on a white panel. The others are Dark, Dracula (the default), Nord and Ferra.

    Related guides

    Guide 2.4Set up Scalpel for one, two or three screensLayouts that work on a laptop, one wide monitor or a multi-screen desk: how many desks to run, UI scale and zoom shortcuts, and where TWS fits.Guide 5.4R multiples: how Scalpel measures a tradeWhat R is, how Scalpel shows P&L in R on the chart and in the orders panel, how take-profit at N x R works, and why R makes trades on any stock comparable.Guide 1.8A tour of the Scalpel cockpitWhat every part of the Scalpel screen does: the header, VIEW and MODE, account stats, desks, Level 2, chart, order bar, orders panel and the status bar.
    Previous: 11.5Settings: SizingNext: 11.7 Settings: Audio
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