Trend Continuation Alters Indicator

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Aslo Sends Alerts –

• On MT4
• To Your Phone
• To Your Email.
  
  
• Does not repaint.
  
  
• Works on any pair, any timeframe.  (Just ajust the settings for your pair and timeframe.)
  
  
• 10 Activations allowed so you are free from limitations
  
  
• See an example of alerts from today (23 May 2020) using this and 2 other indicators here.

MT5 version here.

What is Trend Continuation and why is it important to you?

As you know, a trend (big move) normally is made up of 3 or 4 candles in the same direction, followed by 1 or 2 candles in the opposite direction (retracement), before the trend continues in the original direction.

These signals can be traded in 1 of 2 ways (or both):

1. Immediate entry on alert, with the stop loss under the low of the last 2 candles (plus a "gap" for spread) and the take profit at previous structure.
   
   
2. Or they can be treated as an Order Block - with a pending order at the 2nd last candle
   eg for a buy the 2nd last candle will be bearish and the buy limit order is at the upper wick or the close (your choice) of the 2nd last candle.
   With the stop loss under the low of the last 2 candles (plus a "gap" for spread) and the take profit at previous structure.
   
   Because this is a trend continuation, the expiry of the pending order should be only a few candles.
   
   The order block method often give a much greater Reward to Risk Ratio, but there is the chance that it will never be filled.

The Trend Continuation Alerts Indicator tells you when the trend is about to continue. Using Trend Continuation should be a part of every Trader’s strategy.

Works very well in conjunction with the Consolidation Breakout Indicator.

Please feel free to message me if you have any questions.  

SETTINGS:

 - Please make sure you adjust the settings for the timeframe and pair you are trading.

• New Video:
  How To Chose The Best Settings For You

 -  Let me know if you need any help.

TrendEMAPips

An Exponential Moving Average (EMA) is used to determine whether price is currently in an up- or downtrend. Set number of pips which the EMA should “slope” by. The higher the value, the stronger the trend, fewer signals but the end of the trend may be coming. Eg I use 2.4 pips for EURUSD on M15.

BreakoutPips

Minimum number of pips you want the signal candle to break above or below the retracement.

TrendEMA

Set the period of the trend EMA.

MaxWickSize

If the price breaks above the current retracement, but closes a lot lower than its highest price, this forms a large upper wick and possibly shows this is a false move / price rejection. Set the maximum size of that wick as a proportion of the candle body. 0.5 would mean the wick can be half of the size of the candle body. Higher value, more signals, but less accurate.

MaxSignalCandleATRMultiple

Set how big the breakout candle is compared to the average of the last 14 candles. 1 means the candle can be the same size. Higher than 1 means it can be bigger. Be careful of having this value too high as a large candle may have been formed by a News event (or Bank Manipulation etc) and a price correction may be coming very soon. Eg I use a value of 1.5 for EURUSD on M15.

TimeOfTheDay(from hour)

The hour you want the Indicator to start each day.

TimeOfTheDay(from mins)

The number of minutes past the hour you want the Indicator to start each day.

TimeOfTheDay(to hour)

The hour you want the Indicator to stop each day.

TimeOfTheDay(to min)

The number of minutes past the hour you want the Indicator to stop each day.

Send_Email

Sends an alert to your email (if you have set this up in MT4).

Audible_Alerts

Gives a sound alert and pop-up message in MT4.

Push_Notifications

Sends an alert to your phone (if you have set this up in MT4).