Indicators: BrainTrend2Stop

[MetaQuotes]

BrainTrend2Stop:

BrainTrend2Stop is a trend reversal detection indicator, it is displayed by the stops line. Intersection of the line indicates trend reversal and the time to close previously opened positions.

BrainTrend2Sig algorithm is based on the processing of ATR and Stochastic Oscillator indicators' information.

Blue line below the candlesticks minimums indicates two things:

1. The market trend is going upwards;
2. The meaning of the line itself - protection stop at that level or profit taking (if position is profitable) for a long position.

Red line above the candlesticks maximums indicates two things:

1. The market trend is going downwards;
2. The meaning of the line itself - protection stop at that level or profit taking (if position is profitable) for a short position.

Author: Nikolay Kositsin

[Edal01]

Great indicator , real solid work. If there is a next update can you allow us to adjust the position of the indicator on the chart while keeping the same ATR. I find when I do back tests it gets me into really great trends however my stop gets hit due to how tight the stop line is.Keep up the good work.

Cheers