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Prometheus Trade Engine

Prometheus Trade Engine is an indicator that combines price action, ratio based indicator & custom indicators to create this leading indicator that has a multi-timeframe approach to give you high probability trade setups & assist you in making a prediction on what is MOST likely to happen in the market going forward

Features

Reversal Zone

  • Rectangular box on your chart based on a close approximation to 50% & 61.8% Fibonacci retracement levels over the high-low period of 100 bars
  • By default, Blue rectangle is set to indicate that you are temporarily on a LONG trend with 50% above & 61.8% below
  • Red rectangle is set to indicate that you are temporarily on a SHORT trend with 61.8% above & 50% below
  • When the trend changes the it is redrawn automatically depending on your timeframe of choice
  • When it is breached it gives you a [leading] indication that the current trend is MOST likely about to change so adjust your trading rational appropriately
  • When there is NO retracement level then there will be NO Reversal Zone thus NO Price Move, stay out of the market

Price Action Signal

  • Arrow displayed on a specific candle; These arrows are NOT buy/sell arrows; They DO NOT repaint
  • Bullish arrow on a bullish candle price is most likely going to shoot LONG; Bearish arrow on a bearish candle price is most likely going to collapse SHORT
  • Bullish arrow on a bearish candle price will most likely move LONG momentarily before collapsing SHORT; Bearish arrow on a bullish candle price will most likely move SHORT momentarily before shooting LONG

Price Move

  • Based on where price is relative to the Reversal Zone

Daily Move

  • Based on where price is relative to the Daily Open

Daily Index

  • Based on current price relative to the open-high-low-close price of the daily candle; Scale 0 to 100 [0 = daily open & 100 = new high or low]
  • The higher the value the further the price is to the open;

Analysis

  • Trend Strength - Displays overall strength of trend; Scale 50 to 100 [50 = weak & 100 = strong]
  • Asset Strength - Displays strength of asset; Scale 0 to 9 [0 = weak & 9 = strong]
  • Strength Index [RSI] - Displays RSI level
  • MACD - Displays MACD above or below zero

Average

  • Displays multi-timeframe moving average

Momentum

  • Displays multi-timeframe momentum

Direction

  • Displays multi-timeframe average directional movement index

Market Sentiment

  • Displays the traders choice of market direction call or put

Parameters

Period Settings

  • Average Period - Set Moving Average, default set to 50
  • Momentum Period - Set Momentum, default set to 14
  • Direction Period - Set ADX, default set to 14
  • Stength Index Period - Set RSI, default set to 14
  • Reversal Zone Alert - Set alert screen pop-up message, default set to TRUE

Color Settings

  • Symbol Color - Set color symbol on your chart
  • Panel Color - Set color for the right hand panel
  • Value Color - Set color for values on the Analysis Section
  • Bullish Color - Set color for bullish move
  • Bearish Color - Set color for bearish move
  • Flat Color - Set color for flat move
  • ReversalZoneLong Color - Set color for LONG Reversal Zone
  • ReversalZoneShort Color - Set color for SHORT Reversal Zone
  • Timeframe Color - Set color of current chart timeframe

High Probability Trade Setups

Reversal Bounce

  • Take a trade when price has bounced off the SHORT/LONG Reversal Zone based on HIGH PROBABILITY CONFLUENCE from the right hand panel
  • Price MUST be INSIDE/BELOW the SHORT reversal zone for a PUT OR INSIDE/ABOVE the LONG reversal zone for a CALL

Reversal Breach

  • Take a trade when price has breached the SHORT/LONG Reversal Zone based on HIGH PROBABILITY CONFLUENCE from the right hand panel
  • Price MUST be INSIDE/ABOVE the SHORT reversal zone for a CALL OR INSIDE/BELOW the LONG reversal zone for a PUT

FOR CONFIRMATION, get the Prometheus Smart Money https://www.mql5.com/en/market/product/16768 to confirm which trades to take & which ones to avoid

Advantages

  • You can use it in ALL financial markets including binary options on ALL asset classes or instruments
  • Less clutter on your chart giving you a neat & tidy chart therefore no information overload

Recommendations

  • Supported timeframes are M1, M5 & M15; Recommended for ONLY intraday traders
  • Test on a demo account first for at least 2 weeks; Practice makes perfect

Please share your comments, reviews & ratings

Reviews 1
Peter
1115
Peter 2017.08.01 18:08 
 

Great indicator and excellent support!

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Young Ho Seo
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Reversal Sniper
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Elmira Memish
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VTrende mt4
VTrende mt4
Andrey Dyachenko
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G Cash Market Maker Cycle Identification Dashboard
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Garry James Goodchild
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Paul BuySell Indicator
Paul BuySell Indicator
Prabir Paul
Non-Repainting & Trend Following Indicator   A simple tool for all traders.  Paul Indicator detects trend, eliminates noise and show Buy and Sell level in the screen window. This Buy Sell Indicator is is very simple and useful. This Indicator will not produce Buy and Sell Signal alternatively ignoring trend but It follows trend and produce good Signal only. For Details Information, go through this article:  https://www.mql5.com/en/blogs/post/734212 Advantages Non-Repainting & Trend Followin
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Pair Trading Station MT4
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Young Ho Seo
How to use Pair Trading Station Pair Trading Station is recommended for H1 time frame and you can use it for any currency pairs. To generate buy and sell signal, follow few steps below to apply Pair Trading Station to your MetaTrader terminal. When you load Pair Trading Station on your chart, Pair Trading station will assess available historical data in your MetaTrader platforms for each currency pair. On your chart, the amount of historical data available will be displayed for each currency pai
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BinaryPin
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Andrey Spiridonov
BinaryPin is an indicator developed and adapted specifically for trading short-term binary options. The indicator's algorithm, before issuing the signal, analyzes many factors, such as market volatility, searches for the PinBar pattern, calculates the probability of success when making a deal. The indicator is set in the usual way. The indicator itself consists of an information window where the name of the trading instrument is displayed, the probability of making a successful transaction, the
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Tigger
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Dimitar Pavlov
This indicator is very powerful tool on AUD/NZD 1 minute chart, however it works on any symbol and any timeframe. The indicator does not repaint or redraw. The signal always come as soon as candle open. Personally I tested it on Metaquotes demo account on AUD/NZD 1 minute chart for 6 months and it has 68% success rate based on 2409 signals from the indicator for this 6 month period. On AUD/NZD 5 minute chart has 69% success rate too, based again on 6 months test and 717 signals from the indicato
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SFO Trend Racer
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Tevin Marshall
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Namiri Trade Engine
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Peter
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Peter 2017.08.01 18:08 
 

Great indicator and excellent support!

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Version 1.1 2019.02.07
Added Entry, Stop Loss & Take Profit Levels