The indicator gives signals based on candles touching BB lines and RSI oversold/overbought conditions, also a 200 EMA filter is used to trade following the major trend. Only LONG signals are given.
Signals are divided in 3 categories based on their strenght:
- Weak BUY/SELL (green/red circles on chart) - normal BUY/SELL (green/red triangles with "BUY" or "SELL" text on chart) - strong BUY/SELL (green/red labels with "STRONG BUY" or "STRONG SELL" text on chart)
You can use signals from the same category as triggers for entering or exiting a trade or you can try using signals from different categories
All indicators settings can be costumized Every signal label can be turned ON/OFF EMA that changes color based on last candle close can be turned ON/OFF
Alerts can be set for: - General Signals (every signal will trigger it) - Weak Signals (only weak signals will trigger it) - Normal Signals (only normal signals will trigger it) - Strong Signals (only strong signals will trigger it)
Notes de version
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Added 3 RSI Oversold & 3 RSI Overbought value presets:
- BASIC (default values from previous version) - LOW (slightly lower values from default) - HIGH (slightly higher values from default)
Tips: Use RSI OS LOW preset to find entries at a better price Use RSI OS HIGH preset to find entries faster Use RSI OB LOW preset to find exits faster Use RSI OB HIGH preset to find exits at a better price (I'VE NOTICED THAT LABELS ARE NOT ALWAYS DISPLAYED IF A SUDDEN CRASH HAPPENS OR IF A STRONG UP TREND IS PLAYING OUT. I'M GOING TO TRY AND FIND A SOLUTION TO NOT MISSOUT ON THOSE OCCASIONS)
Notes de version
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Added a checkbox to toggle ON/OFF the use of Heikin Ashi candels to detect trades
Notes de version
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Added a checkbox to toggle ON/OFF the use of an ema filter that tries to reduce the number of false signals when price crosses the moving average many times consecutively
For now this indicator will not receive updates. I'm working to a new script with a similar concept of weak, normal, strong signals, but uses all different conditions for setups. Hope you'll like it :)
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@Nick42_for_win, Can you make it in expert for mt4 to use it forex ? Mansourkwt@yahoo.com