Parameters Description for TrueSR Multi TF Support Resistance

29 June 2020, 22:44
Behzad Movaghar
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TrueSR Indicator: Multi TF Support Resistance alert and panel

Full Description of Parameters

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MT5 Demo page: click here

MT4 Product Page: click here

MT4 Demo page: click here


TIMEFRAME FILTERS:

  • Alert this and bigger TFs: Get alert for timeframes >= selected timeframe
  • Exclude these TFs: Get alert only on selected timeframes (comma separated timeframes, E.g. M5,M15,H2,H6). You can mix this parameter with previous one.
  • Alert only these TFs: Get alert only on these timeframes (comma separated timeframes, E.g. M5,M15,H2,H6)
  • Minimum nested zones to trigger alert: Get alert when there is interaction with a zone on more than one TF at the same time. For example if you set this parameter=3, then alert will trigger only if there is at least 3 more timeframe that price has same interaction with them, for example in all timeframes price enters into support zone.
  • Number of neighbor TFs to ignore as nested (MT5 only): Sometimes there is similar interaction with support resistance zones in near timeframes (like M10 and M12 or H2 and H3). If you set this parameter bigger than zero then when indicator finds an interaction with a zone in a timeframe, it ignores the same zone(support, resistance) with the same interaction(enter, leave, break) in near timeframes as a nested zone. For example if you set this parameter=2 and price enters the support zone in M4, M5 and M6, only M4 will be counted as nested zone.


ALERT SETTINGS:

  • Alert Entering Zone: Alert triggers when price enters in a support or resistance zone (candle opens outside the zone and closes inside the zone)
  • Alert Leaving Zone: Alert triggers when price leaves a support or resistance zone (price turns back from the zone and candle opens inside the zone and closes outside the zone)
  • Alert Breaking Zone: Alert when price breaks a support or resistance zone (price goes through the zone and candle opens inside the zone and closes outside the zone)
  • Show Pop Up Alert Box: Show alert window when alert triggers, also alert sound will be played and message will be printed in terminal experts tab. In MT5 version when alert triggers, chart timeframe will change to alerted timeframe.
  • Printing Alert Sound File: If you set previous parameter to false, alert message only will be printed in terminal experts tab. In this case you can select an alert sound from files inside metatrader sounds folder.
  • No alert when Algo Trading is disable: If true, then you can disable alerts by disabling "Algo trading" button of metatrader terminal. This is useful when you are running indicator on many charts and you want to disable alert for all of them at once.
  • Send Push Notification: Send push notification to mobile phone when indicator alert triggers. (You should set metatrader Notifications options)
  • Send Email: Send email when indicator alert triggers. (You should set metatrader Email options)


ZONE SETTINGS:

  • Find Weak Zones: If set to false, weak zones won't show in zone panel and alert won't trigger for them.
  • Find Untested Zones: If set to false, untested zones won't show in zone  panel and alert won't trigger for them.
  • Find Broken Zones: If set to false, broken zones won't show in zone panel and alert won't trigger for them.
  • Indicator Related Settings: If you change these parameters there will be a slight change in zones, you can tweak them to see what works best for you or just leave them with default values.
  • Zone Extend: if set to true, EA goes dipper in history bars to find zones. The result will be more and sometimes wider zones.
  • Zone ATR Factor: Changes zone height based on ATR indicator values, less value means thinner and more accurate zones, but less chance to trigger the alert.


SMALL CANDLE FILTERS:

  • Minimum Candle Height to Trigger Alert: Get alert only if difference between high and low of the candle that deals with a zone is >= this parameter (in points).
  • Ignore Smaller Candles: Alert triggers if last closed candle is bigger than previous candles (check two following parameters)
  • Number of Previous Candles to Compare: Number of previous candles that must be compared with last candle to check if it is a small candle or not.
  • Ratio of Candle Height to Previous Candles: How many times last candle must be bigger than previous candles to not consider as small candle. For example, if you set this parameter=1.2, then candle must be at least 1.2 times bigger than previous candles. If this parameter=1 then this candle must be just bigger than previous candles.


CHART SETTINGS:

  • Show Panel on Chart: If set to false, panel won't show on chart.
  • Draw Zones on Chart: If set to false, zones won't show on chart. Doesn't affect map panel and alerts.
  • Show Zone Info Labels: If set to false, info labels won't show on chart.
  • Fill Zone with Color: If set to false, only borders of zones will draw on chart.
  • Width of Zone Border Lines: Size of zone border (If above parameter is false)
  • Style of Zone Border Lines: Style of zone border (solid, dash, dot ...)
  • Color of Info Label Text: Color of zone info label text
  • Zone colors: In last parameters you can change color of each zone as you want.

You can test TrueSR Support Resistance functionality by downloading free demo version from this link.

If you have any question please ask in comments section of DEMO version, I'll do my best to answer your questions.

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