This is the FXTraderariel-Indicator. It scans the market for opportunities and creates a buy or sell signal. Depending on the settings and trading style, it can be used for scalping or long-term trading. The indicator can be used on every time frame, but we advise to use it on H1, H4 and D1. Especially if you are a novice trader. Pro Traders can also you use it for scalping in smaller timeframes (M1, M5 and M15). This indicator is not a complete trading system. It doesn’t give you exit points nor should every Signal be traded. Trades should be watched closely.
You have two options for the timing of the signals. You can either decide to get the signals immediately (Closed-Bar = 0) or wait for confirmation of the closed candle (Closed-Bar = 1). Both options have risks, but we advise to use Closed-Bar = 1.
The standard settings are optimized for USDJPY – H4. For other settings, check out the comments. We are always working on new setups. If you have any questions, please do not hesitate to contact us. The indicator does not repaint or cheat in any way.
For Details please contact me here or on instagram.
Explanation of Parameters
- Value_1: This value should be between 6 and 20 (If you want to have less, but more powerful signals, use a higher value)
- Value_2: This value should be between 5 and 19 (It should be smaller than Value_1)
- Value_3: Set the threshold for a Sell Signal. Should be between -200 (no filter) and 200 (only high strength signals)
- Value_4: Sets the threshold for a Buy Signal. Should be between 200 (no filter) and -200 (only high strength signals)
- Shift: This value sets the amount of bars to use for confirmation. (The best value is at 5, but at a smaller timeframes you want to use 1-2 bars to get cleaner signals)
- Alert_Only_On_Signal-Change: Only gives you one (sell or buy) signal until the opposite occurs. (Recommend to leave at true)
- Closed-Bar: Wait for confirmation at a closed candle bar (1). To get immediately a signal without confirmation use 0.
- enable_alert: Send alert in Metatrader4 terminal
- enable_mobile: Send push alerts a to mobile Metatrader4 app.