Trend hunter 2016
This indicator is essentially trending, it can "feel" the trend change. The arrow-signal does not disappear and does not redraw after a bar closes. An order may be opened towards the arrow direction at the next bar after the signal appears. Using this indicator is intuitive. Once the first turquoise arrow appears, buying is preferred. Red – selling.
It can be used for scalping on М1. It is better to enter when the first arrow of the opposite color appears. When using the indicator on Н4: when the arrow appears, the entry can be searched at a smaller timeframe towards Н4. The indicator can also be used as a filter for personal manual or automated trading system.
When creating an EA use the «0» buffer of the indicator for selling, the «1» buffer for buying.
The indicator parameters
The indicator has three custom parameters.
- Order appearance frequency (1-500) - 1 - constantly in the market, 500 - rarely. For scalping and using the indicator as a filter, the value can be set to "1". In that case the trend change will be better identified.
- Sensitivity (50-500) - 50 - high (a lot of noise). The default value is «321». It is optimal in terms of signal quality.
- The number of signals at the extremes - the lower the number, the less unfavorable buys near the tops and sells near the bottoms (0.5-5.5).