This semaphore signal indicator has been developed for medium-term trading on EURUSD H1. The indicator's accurate signals are based on the complex price movement analysis, Williams' percentage range, relative strength index, Demark technical indicator and MACD.
The indicator features two signals modes.
Trend-considering mode. A green up arrow under a signal candle serves as a buy signal. The signal forms during an opening of a candle following the signal one. A close signal is a golden down arrow above a signal candle. If the close signal is preceded by an open one in a position direction (green up arrow), open an additional position. If the trend changes, a sell signal (red down arrow) may serve as a close signal for a long position. Thus, enter a short position after closing a long one. On average, three trades are required to open a position completely. Therefore, the minimum deposit is calculated on the condition that every 0.01 lots stand for $50 totaling to 0.03 lots for $150. The fourth and subsequent signals can be ignored (due to their insignificance) and wait for a close or reversal signal. The opposite is true for a sell position.
Non-trend-considering mode. A position reversal signal appears instead of a close one. For example, a sell signal follows buy ones. Thus, enter a short position after closing a long time. Similar to the previous mode, there may be multiple buy or sell signals. The minimum deposit also comprises $150 per 0.03 lots.
Due to the indicator's complex analytical basis, its signals constitute a full trading system that allows you to profit from trend without suffering losses during flats and news spikes.
- UseTrend - if true, consider a trend
- Depth - indicator history depth in bars