Trend based on Extremum Levels and Volatility
- Indicators
- Version: 1.1
- Updated: 16 May 2024
- Activations: 5
Trend based on Extremum Levels and Volatility indicator is a handy tool designed to help traders to identify trend break points and potential profit taking levels on different timeframes.
The indicator can be used on forex, futures, stocks, indices, commodities and cryptocurrency markets.
This universal indicator builds trends based on local extrema, volatility and average price deviation, providing valuable information that can be used on both small and large timeframes.
The distinctive feature of the Trend based on extremum levels and volatility indicator is its ability to take into account local extrema that are independent of input parameters, which makes it a more objective and reliable tool for analyzing market trends. This approach eliminates the possibility of fitting the indicator to historical data to demonstrate inflated profitability, which gives it added value. This ensures that the indicator provides more accurate and objective signals based on actual market conditions rather than artificially inflated indicators.
The Trend based on Extremum Levels and Volatility indicator has a useful feature that allows users to be notified of trend reversals using four different methods.
- Print
- Alert
- Notification
- Send Mail
In addition, the indicator offers a function that calculates take profit levels based on stop loss and entry points. Whether you prefer market or limit orders for entry, the indicator will perform the necessary calculations and clearly show the appropriate stop loss and take profit levels. To further enhance the indicator's capabilities, it can also plot potential take profit levels directly on the chart.
Customizing the indicator according to your trading preferences is easy, thanks to its simple and intuitive design.
Input parameters:
Average Price Deviation - allows you to adjust the indicator's sensitivity to local price fluctuations, which makes it suitable for analyzing trends on different timeframes.
Step - determines how far back the indicator will study historical data.
Print On - enables output of the signal message to the Expert Advisor Journal of the trading terminal.
Alert On - enables output of a message about the signal in the dialog window of the trading terminal.
Notification On - enables output of the message about the signal to mobile terminals
Send Mail On - enables output of a message about the signal to an e-mail to the address specified in the settings window on the "Mail" tab.
Draw Take Profit - draws Take Profit (only in real time).
Take Profit Level 1 - ratio of SL and TP1
Take Profit Level 2 - the ratio of SL and TP2.
Take Profit Level 3 - the ratio of SL and TP3.
TP level calculations for a limit order - includes TP calculations for a limit order.
Divider - in which part of the signal bar the limit order is set if Divider=2, then the limit order is set in the middle of the bar.
Indent in pips to set a StopLoss - indent for SL in pips.
Indent in pips to set a TakeProfit - indent for TP in pips.
