Parabolic Converter is and analogue of the Parabolic indicator for МТ4 which can automatically recalculate parameters of Time Frame specified in settings for lower time periods. It has a Notification System which triggers when the price movement direction is changed.
For example: if we set Time Frame 1 Hour to H1 and M30, M15, M5 and M1 contained therein, we can see the indicator's readings corresponding to H1 (fig.). At that, if we add one more Parabolic on the same chart (of several charts) with another Time Frame 4 Hour parameter, we will see readings of two indicators on H1 and H4 (or several Parabolics).
Automated recalculation of parameters release us from watching several windows of the terminal, as all required data are visible on the chart of one lower timeframe, which is a doubtless advantage for strategies using the Parabolic indicator.
The indicator cannot recalculate parameters of a lower time period for a higher time period. At that you will hear an error signal and see a corresponding warning on your screen.
- Language – choose language - English or Russian;
- Time Frame – period of Parabolic's readings (Current - current time period);
- Step – increment of speed, acceleration;
- Maximum – maximum coefficient of following the price;
The indicator can generate signals in the form of alerts (Message Alert), display a comment in the upper left corner of the chart (Comments), send notifications to the mobile terminal version (Message Mobile), send emails (Message Gmail). The Sounds function has been added to alert parameters. It plays Sound Up and Sound Down files in the wav format, which can be created using a program and added to the Sounds folder of the installed terminal. If Sounds is enabled, Message Alert is automatically disabled!
Wish you successful trading!