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Prometheus Smart Money

Prometheus Smart Money is an indicator that combines both price & volume with calculations based on other custom indicators, smart volume and retail volume to create this leading indicator that gives you high probability moves to help you make a decision on what is MOST likely to happen in the market going forward.

Advantages

  • You can use it in ALL financial markets including binary options on ALL asset classes or instruments.
  • You can use it as a stand alone indicator or as a confirmation tool with other indicators

Parameters

  • Smart Volume Period - recommended period for accurate calculations is 10 or 20
  • Retail Volume Period - set number of bars back to calculate retail volume default bars is set to 100
  • Probability Alert - set probability screen alert on high probability potential trade setup which is ONLY triggered when smart volume, retail volume and high probability % are in confluence

Probability key

  • 0% - 30% - low probability
  • 30% - 60% - average probability
  • 60% - 80% - high probability
  • 80% - 90% - possible reversal
  • 90% - 100% - strong trend

Entry requirements

  • Focus on is the clusters on the indicator - the height of the bars and the number of bars in that cluster
  • The recent clusters is compared to the previous clusters of bulls[blue] & bears[red] to determine who is in control of the market
  • When the clusters of smart volume, retail volume & %probability are in confluence then you are looking at a high probability potential trade
  • Entry should only be taken close to a key level - either after a breach of that key level or a bounce off that key level as shown on the charts it all depends on your strategy

Recommendations

  • Back test on simulator FIRST then forward test on DEMO for at least 1 MONTH

Please share your comments, ratings & reviews

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Custom Patterns helps you to make constant trading more convenient in order to make profit on the market. This indicator harmonically identifies price movements and makes them visible by showing them dot per dot. Due to the possibility to input the minimum and maximum retracement, you can define your own rule set for the moment of entry, setting of stop loss and take profit. This indicator recognizes all usual formations like: Bat Cypher Gartley Butterfly Crab 5-0 AB-CD Threedrive In addition, y
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Version 1.8 2019.01.30
Bug fixes
Version 1.7 2019.01.29
Changed the Smart Volume to an Oscillator for an easy read of clusters of Bulls & Bears
Version 1.6 2018.08.30
price to show on the crossover alerts
Version 1.5 2018.08.29
Fixed errors on screen & crossover alerts
Version 1.4 2018.08.28
smart volume crossover screen & email alert
Version 1.3 2017.12.06
Changed smart volume, retail volume and probability display
Improved on smart volume reading
Increased the font size on retail volume and probability display
Version 1.2 2016.08.12
Changed smart volume, retail volume and probability display
Added panel color change option
Version 1.1 2016.06.22
Errors on XAGUSD,M15 fixed