You should watch this 35 minute video below that explains how to trade 15 minute chart naked. Naked means trading solely based on price action without using any indicator at all. 15 minute chart is the best timeframe when it comes to scalping. If you are trading news then 15 minute chart is the best timeframe that you should use for making your trades. False signals on 15 minute chart are much less as compared on the 5 minute chart.
Always keep this in mind, indicators are lagging in nature. The only leading indicator available to you is price action. The sooner you learn how to interpret price action, the better it will be for you as a trader. The most important concepts in price action trading is support and resistance.
If you are a scalper than M15 can be a good timeframe for you to trade. Just make sure that you take care of risk before you enter into a trade. M15 candlestick patterns are not that precise and accurate. This is what I do. I basically trade on H4 and D1 timeframe. I take the main trade idea from the higher timeframe. Once I have the trade idea meaning I make up my mind that this is going to be a buy trade then I switch to M15 and use this timeframe for making a low risk entry. If you want to succeed on M5 chart, then you should use the concept of support and resistance a lot. Read this post in which I have posted a 1 hour video tutorial that explains the concept of support and resistance in detail.
Now as I was saying, risk management is the most important thing in trading. Don’t try to open a trade with a big stop loss. The chances are high that you will lose that trade. Always study the charts carefully. Start from the weekly and the daily chart. Once you have the direction of the trend, switch to lower timeframe like M15 and plan your trade of the day. On M15 you can easily catch 50-100 pips in 1 day. Just make sure you risk less and make more. This will ensure you are going to lose less and make more. Watch this documentary on the life of a millionaire fore trader. In this documentary you learn how a professional trader plans his trades. The most important thing that you learn in this documentary is how a professional trader manages to recover a losing trade.