Follow Line Indicator

Follow Line Indicator is a common MT5 FX indicator based on trend following.


Ideal for Bitcoin BTCUSD / Ethereum ETHUSD


The main idea behind the calculation is volatility:

- Indicator Line increases as price goes above Bollinger Band but with 1 standard deviation.

- Likewise when price moves below the lower Bollinger Band with 1 standard deviation, Follow Line decreases down. 

- As you can imagine, indicator stays as a flat line when prive moves between the bands.


There are two critical settings about the Indicator: 


1- Bollinger Bands Deviation is set to 1 as default but if you want to have early signals you have to decrease that amount. Also you'd better increase that to have flat values on sideways market conditions for not getting chopped by the early but false signals.

2- ATR Filter is activated in default settings and the indicator follows the trend with a distance from Highs and Lows considering ATR (default length 5) values. If you turn off the ATR filter, the indicator line only takes into account the Highs and the Lows. Indicator will get more agile but the risk of choppy signals can be taken that time. I personally advise you to increase the Bollinger Band Deviation from 1 to between 1.5-2 to stabilize the fake signals when ATR filter is turned off.

Signals can be shown on the graph:

BUY: when Follow Line changes direction from red to blue.(which means Price is above Bollinger Upper Band with 1 standard deviation)
SELL: when Follow Line changes direction from blue to red. (which means Price moves below Bollinger Lower Band with 1 standard deviation)

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Eric Venturi-Bloxs
Indicators
FFx Universal Strength Meter PRO is more than a basic strength meter. Instead of limiting the calculation to price, it can be based on any of the 19 integrated strength modes + 9 timeframes. With the FFx USM, you are able to define any period for any combination of timeframes. For example, you can set the dashboard for the last 10 candles for M15-H1-H4… Full flexibility! Very easy to interpret... It gives a great idea about which currency is weak and which is strong, so you can find the best pai
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The FFx Universal MTF alerter shows on a single chart all the timeframes (M1 to Monthly) with their own status for the chosen indicator. 9 indicators mode (MACD-RSI-Stochastic-MA-ADX-Ichimoku-Candles-CCI-PSAR). Each can be applied multiple times on the same chart with different settings. Very easy to interpret. Confirm your BUY entries when most of the timeframes are showing green color. And confirm your SELL entries when most of the timeframes are showing red color. 2 Alert Options : input to s
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